Company registration number 10156229 (England and Wales)
HADCALRY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HADCALRY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HADCALRY LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
569
Tangible assets
4
88,633
10,992
Investment property
5
626,472
335,596
Investments
6
95,267
59,883
810,372
407,040
Current assets
Debtors
8
239,427
245,949
Cash at bank and in hand
1,371,459
1,864,004
1,610,886
2,109,953
Creditors: amounts falling due within one year
9
(104,551)
(418,909)
Net current assets
1,506,335
1,691,044
Total assets less current liabilities
2,316,707
2,098,084
Creditors: amounts falling due after more than one year
10
(50,442)
Provisions for liabilities
(790)
(790)
Net assets
2,265,475
2,097,294
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
2,265,474
2,097,293
Total equity
2,265,475
2,097,294
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
HADCALRY LTD
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 15 July 2024
Mr RJ Hutcheon
Director
Company registration number 10156229 (England and Wales)
HADCALRY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information
Hadcalry Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 98 Rose Lane, Liverpool, Merseyside, England, L18 8AG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Intangible fixed assets other than goodwill
Intangible assets are initially measured at cost. After recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Software
Straight line over 5 years
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% Straight line
Computers
33% Straight line
Motor vehicles
20% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Revaluations on investment property are shown in a separate reserve as opposed to part of the accumulated profit and loss account to clearly distinguish between distributable and non-distributable profits.
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
HADCALRY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
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, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.9
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.
HADCALRY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
12
6
3
Intangible fixed assets
Software
£
Cost
At 1 December 2022 and 30 November 2023
5,744
Amortisation and impairment
At 1 December 2022
5,175
Amortisation charged for the year
569
At 30 November 2023
5,744
Carrying amount
At 30 November 2023
At 30 November 2022
569
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2022
23,155
15,282
38,437
Additions
13,905
4,380
74,898
93,183
At 30 November 2023
37,060
19,662
74,898
131,620
Depreciation and impairment
At 1 December 2022
14,346
13,099
27,445
Depreciation charged in the year
10,431
3,513
1,598
15,542
At 30 November 2023
24,777
16,612
1,598
42,987
Carrying amount
At 30 November 2023
12,283
3,050
73,300
88,633
At 30 November 2022
8,809
2,183
10,992
HADCALRY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
5
Investment property
2023
£
Fair value
At 1 December 2022
335,596
Additions
290,876
At 30 November 2023
626,472
6
Fixed asset investments
2023
2022
£
£
Other investments other than loans
95,267
59,883
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 December 2022
59,883
Additions
35,384
At 30 November 2023
95,267
Carrying amount
At 30 November 2023
95,267
At 30 November 2022
59,883
7
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
95,267
59,883
8
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
137,131
126,582
Other debtors
102,296
119,367
239,427
245,949
HADCALRY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
9
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
76,000
363,331
Other taxation and social security
6,370
26,711
Other creditors
22,181
28,867
104,551
418,909
10
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
50,442