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Registration number: 09173389

Hayward & Bos Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

Pages for filing with Registrar

 

Hayward & Bos Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Hayward & Bos Limited

Company Information

Director

S A J Bos

Registered office

12 Colston Yard
Bristol
BS1 5BD

Registered number

09173389

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Hayward & Bos Limited

(Registration number: 09173389)
Balance Sheet as at 31 August 2023

Note

2023
£

As restated
2022
£

Fixed assets

 

Tangible assets

5

5,907

11,693

Investments

6

8,750

35,000

 

14,657

46,693

Current assets

 

Debtors

7

60,840

159,810

Cash at bank and in hand

 

64,761

180,471

 

125,601

340,281

Creditors: Amounts falling due within one year

8

(57,497)

(75,393)

Net current assets

 

68,104

264,888

Net assets

 

82,761

311,581

Capital and reserves

 

Called up share capital

50

50

Capital redemption reserve

50

50

Profit and loss account

82,661

311,481

Total equity

 

82,761

311,581

 

Hayward & Bos Limited

(Registration number: 09173389)
Balance Sheet as at 31 August 2023 (continued)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director on 19 August 2024
 

.........................................

S A J Bos
Director

 

Hayward & Bos Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Colston Yard
Bristol
BS1 5BD

2

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 compliance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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 £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hayward & Bos Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Government grants

Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Office equipment

50% on cost

Research and development costs

Research and development costs are written off to profit or loss in the year incurred.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost less any provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Hayward & Bos Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2022 - 12).

 

Hayward & Bos Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

4

Prior year adjustment

The company's results for the year ended 31 August 2022 have been restated from the results
previously reported. The adjustment is to correct bookkeeping errors which led to the incorrect allocation of income and expenditure in the period.

The overall impact on the financial statements for the year ended 31 August 2022 is as follows:
• Decrease in creditors by £91,168
• Increase in debtors by £42,167
Increase reserves by £120,035

5

Tangible fixed assets

Office equipment
£

Cost

At 1 September 2022

20,184

Additions

4,866

Disposals

(3,498)

At 31 August 2023

21,552

Depreciation

At 1 September 2022

8,491

Charge for the year

7,834

Eliminated on disposal

(680)

At 31 August 2023

15,645

Carrying amount

At 31 August 2023

5,907

At 31 August 2022

11,693

 

Hayward & Bos Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

6

Investments

2023
£

2022
£

Investments

8,750

35,000

The investment represents a less than 1% holding of 11,364 ordinary shares in Found Ltd.

The fair value of Found Ltd has moved from £6,000,000 to £1,500,000, which has led to impairment in the company's investment in these Found Ltd shares.

7

Debtors: amounts falling due within one year

Note

2023
£

As restated
2022
£

Trade debtors

 

16,893

47,134

Inter-company

11

-

49,224

Prepayments

 

3,105

2,408

Corporation tax

 

40,842

61,044

 

60,840

159,810

8

Creditors

Note

2023
£

As restated
2022
£

Trade creditors

 

4,887

14,723

Taxation and social security

 

34,211

54,943

Other creditors

 

4,479

3,527

Accruals and deferred income

 

11,520

2,200

Directors' loan accounts

2,400

-

 

57,497

75,393

 

Hayward & Bos Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

50

50

50

50

         

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Total lease commitments

1,950

-

11

Related party transactions

Transactions with related parties

2023

Entities with joint control or significant influence
£

Amounts receivable from related party

-

2022 (as restated)

Entities with joint control or significant influence
£

Amounts receivable from related party

49,224