Registration number:
Hayes Parsons Holdings Ltd
for the Year Ended 31 December 2023
Pages for filing with Registrar
Hayes Parsons Holdings Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Hayes Parsons Holdings Ltd
Company Information
Directors |
B R K Leah J W Woollam |
Registered office |
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Registered number |
00749459 |
Accountants |
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Hayes Parsons Holdings Ltd
(Registration number: 00749459)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Hayes Parsons Holdings Ltd
(Registration number: 00749459)
Balance Sheet as at 31 December 2023
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
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J W Woollam
Director
Hayes Parsons Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Group accounts not prepared
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Hayes Parsons Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Investments
Investments in subsidiaries and associates are measured at cost less impairment.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity over which the company has significant influence and that is neither a subsidiary nor an interest in a joint venture. Investments in associates are measured at cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Loans receivable
Debtors include loans advanced to companies in the group. Loans are shown at transaction value which represents their fair value. Interest receivable is recognised on the basis of the effective interest method and is included in interest receivable and similar income.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
A dividend distribution to shareholders is recognised as a liability in the reporting period in which the distribution is declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Hayes Parsons Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Taxation |
No liability to UK corporation tax arose on ordinary activities for the year ended
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Investments in associates |
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Subsidiaries |
£ |
Cost |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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In January 2023, the company acquired the entire issued share capital of Ntegrity Insurance Solutions Limited for total consideration (including deferred consideration) of £3,274,944 including costs.
Associates |
£ |
Cost |
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At 1 January 2023 and 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Hayes Parsons Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Details of undertakings
Details of the investments are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
Subsidiary undertakings |
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Beacon Tower
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Ordinary |
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England and Wales |
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Beacon Tower
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Ordinary |
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England and Wales |
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Beacon Tower
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Ordinary |
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England and Wales |
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Beacon Tower
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Ordinary |
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England and Wales |
Associates |
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10-12 Queens Road
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Ordinary |
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England and Wales |
The principal activity of all the above entities is insurance broking. During the prior year, the trade of C.M.T.I.A. Limited was transferred to Hayes Parsons Limited. Therefore C.M.T.I.A. Limited became effectively dormant. The company was dissolved in February 2024.
Hayes Parsons Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors: amounts falling due within one year |
2023 |
2022 |
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Amounts owed from group undertakings |
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Other debtors |
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Creditors |
2023 |
2022 |
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Due within one year |
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Bank loans |
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Amounts owed to group undertakings |
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Other creditors |
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Accruals |
2,160 |
2,214 |
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Due after one year |
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Bank loan |
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The bank loans are made up of two loans, both carrying a variable rate of interest rate above the Bank of England base rate.
Loan one was drawn down in March 2022 and is being repaid monthly with a final repayment date of March 2026, and a carrying value at the year-end of £290,130 (2022: £411,516).
Loan two was drawn down in January 2023 and is being repaid monthly with a final repayment date of January 2028, and a carrying value of £671,803 at the year-end (2022: £nil).
Hayes Parsons Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2,700 |
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2,700 |