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REGISTERED NUMBER: 01449360 (England and Wales)















T.C. HAYES LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2023






T.C. HAYES LIMITED (REGISTERED NUMBER: 01449360)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 4 to 6


T.C. HAYES LIMITED

Company Information
for the year ended 30 September 2023







Directors: Mr T Hayes
Mrs M Hayes



Secretary: Mr T Hayes



Registered office: 473 Bearwood Road
Smethwick
Warley
West Midlands
B66 4DH



Registered number: 01449360 (England and Wales)



Accountants: Cooper Parry Group Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX



Bankers: Barclays Bank Plc
15 Colmore Row
Birmingham
B3 2BY



Other bankers: Santander
Bridle Road
Bootle
Merseyside
Lancashire
L30 4GB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
T.C. Hayes Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of T.C. Hayes Limited for the year ended 30 September 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of T.C. Hayes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of T.C. Hayes Limited and state those matters that we have agreed to state to the Board of Directors of T.C. Hayes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T.C. Hayes Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that T.C. Hayes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of T.C. Hayes Limited. You consider that T.C. Hayes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of T.C. Hayes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Group Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX


6 September 2024

T.C. HAYES LIMITED (REGISTERED NUMBER: 01449360)

Statement of Financial Position
30 September 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 422,833 453,762

Current assets
Stocks 5 93,199 129,590
Debtors 6 95,565 103,648
Cash at bank and in hand 1,300 5,273
190,064 238,511
Creditors
Amounts falling due within one year 7 242,885 231,142
Net current (liabilities)/assets (52,821 ) 7,369
Total assets less current liabilities 370,012 461,131

Creditors
Amounts falling due after more than one year 8 (15,295 ) (26,118 )

Provisions for liabilities (11,431 ) (14,460 )
Net assets 343,286 420,553

Capital and reserves
Called up share capital 10 189,637 189,637
Retained earnings 153,649 230,916
Shareholders' funds 343,286 420,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:




Mr T Hayes - Director


T.C. HAYES LIMITED (REGISTERED NUMBER: 01449360)

Notes to the Financial Statements
for the year ended 30 September 2023

1. Statutory information

T.C. Hayes 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.

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year, exclusive of Value Added Tax.

The revenue of new sales made under hire purchase contracts, including ancillary items such as document fees, television licences and insurance, is deferred and released to the profit and loss account over three years, this being the average term of the hire purchase agreements.

Fixed assets
All fixed assets are initially recorded at cost.

Equipment owned by the company but placed with customers under short term rental agreements is initially included within fixed assets. Upon expiration of the agreement, the equipment is transferred to stock at its current market value to be sold as second hand goods.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful economic life of that asset as follows:

Freehold Property -2% on cost
Fixtures & Fittings -20% - 25% reducing balance method
Motor Vehicles-25% reducing balance method
Equipment -25% reducing balance method

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

T.C. HAYES LIMITED (REGISTERED NUMBER: 01449360)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

2. Accounting policies - continued

Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Employees and directors

The average number of employees during the year was 11 (2022 - 17 ) .

4. Tangible fixed assets
Fixtures
Freehold and Motor
property fittings vehicles Equipment Totals
£    £    £    £    £   
Cost
At 1 October 2022 722,251 187,077 61,877 352,455 1,323,660
Additions - - - 9,460 9,460
Disposals - - - (3,020 ) (3,020 )
At 30 September 2023 722,251 187,077 61,877 358,895 1,330,100
Depreciation
At 1 October 2022 363,879 181,700 37,291 287,028 869,898
Charge for year 14,445 1,075 6,147 18,722 40,389
Eliminated on disposal - - - (3,020 ) (3,020 )
At 30 September 2023 378,324 182,775 43,438 302,730 907,267
Net book value
At 30 September 2023 343,927 4,302 18,439 56,165 422,833
At 30 September 2022 358,372 5,377 24,586 65,427 453,762

5. Stocks
2023 2022
£    £   
Finished goods 93,199 129,590

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 86,528 92,563
Prepayments 9,037 11,085
95,565 103,648

T.C. HAYES LIMITED (REGISTERED NUMBER: 01449360)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 81,466 93,644
Trade creditors 57,815 21,922
Corporation Tax 32,154 43,400
Social security and other taxes 2,563 3,473
VAT 11,688 11,392
Directors' loan accounts 3,980 5,999
Accruals and deferred income 53,219 51,312
242,885 231,142

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,295 16,118
15,295 26,118

9. Secured debts

Bank overdrafts are secured by way of fixed and floating charge over the company's Freehold Land and Buildings dated 19 November 2004.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
189,537 Ordinary £1 189,537 189,537
100 Ordinary A non-voting £1 100 100
189,637 189,637

11. Related party disclosures

The company was under the control of Mr T C Hayes throughout the current and previous year.

The directors each operate a current account with the company. During the year, the amounts outstanding on the directors' current accounts were as follows:

At the start of the year Mr T C Hayes was owed £448 by the company. At the end of the year Mr T C Hayes owed £5,520 to the company.