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J L HAYES DEVELOPMENTS LIMITED

Unaudited Financial Statements

for the Year Ended 31st March 2024






J L HAYES DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06852709)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J L HAYES DEVELOPMENTS LIMITED

Company Information
for the year ended 31st March 2024







DIRECTORS: J L Hayes
Mrs C A Hayes





REGISTERED OFFICE: 1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH





REGISTERED NUMBER: 06852709 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

J L HAYES DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06852709)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 1,004,024 1,022,496
1,004,025 1,022,497

CURRENT ASSETS
Stocks 22,570 20,276
Debtors 6 319 7,082
Cash at bank and in hand 577,367 509,929
600,256 537,287
CREDITORS
Amounts falling due within one year 7 534,492 528,089
NET CURRENT ASSETS 65,764 9,198
TOTAL ASSETS LESS CURRENT LIABILITIES 1,069,789 1,031,695

PROVISIONS FOR LIABILITIES 106,469 106,469
NET ASSETS 963,320 925,226

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 602,361 602,361
Retained earnings 8 360,859 322,765
SHAREHOLDERS' FUNDS 963,320 925,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J L HAYES DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06852709)

Balance Sheet - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th August 2024 and were signed on its behalf by:





J L Hayes - Director


J L HAYES DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06852709)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

J L Hayes Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:

The useful economic lives and residual values of assets are assessed by management on a timely basis.

Freehold property was valued by the directors on 31st March 2016. The revaluation was based on historical experience as well as considering future events which may impact the value of freehold property, such as changes in market demands.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is stated at cost.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.


J L HAYES DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06852709)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 1
NET BOOK VALUE
At 31st March 2024 1
At 31st March 2023 1

J L HAYES DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06852709)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st April 2023 1,169,814 30,186 74,377
Additions - - 11,490
At 31st March 2024 1,169,814 30,186 85,867
DEPRECIATION
At 1st April 2023 187,170 4,830 65,793
Charge for year 23,396 603 5,018
At 31st March 2024 210,566 5,433 70,811
NET BOOK VALUE
At 31st March 2024 959,248 24,753 15,056
At 31st March 2023 982,644 25,356 8,584

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st April 2023 28,894 10,501 1,313,772
Additions - - 11,490
At 31st March 2024 28,894 10,501 1,325,262
DEPRECIATION
At 1st April 2023 23,573 9,910 291,276
Charge for year 798 147 29,962
At 31st March 2024 24,371 10,057 321,238
NET BOOK VALUE
At 31st March 2024 4,523 444 1,004,024
At 31st March 2023 5,321 591 1,022,496

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 319 7,082

J L HAYES DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06852709)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 24,619 23,588
Taxation and social security 52,354 42,313
Other creditors 457,519 462,188
534,492 528,089

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st April 2023 322,765 602,361 925,126
Profit for the year 77,594 77,594
Dividends (39,500 ) (39,500 )
At 31st March 2024 360,859 602,361 963,220

9. RELATED PARTY DISCLOSURES

Included in other creditors at 31st March 2024 is an amount of £454,020 (2023 : £459,688) owing to the Directors Mr J L Hayes & Mrs C A Hayes.