REGISTERED NUMBER: |
HAYES (PROPERTIES) LIMITED |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
REGISTERED NUMBER: |
HAYES (PROPERTIES) LIMITED |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
HAYES (PROPERTIES) LIMITED |
Company Information |
FOR THE YEAR ENDED 31 JANUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
36-38 Northland Row |
Dungannon |
Co. Tyrone |
BT71 6AP |
HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335) |
Statement of Financial Position |
31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
NON-CURRENT ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Inventories | 7 |
Receivables: amounts falling due within one year |
8 |
Cash at bank |
PAYABLES |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PAYABLES |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Revaluation reserve | 13 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335) |
Statement of Financial Position - continued |
31 JANUARY 2024 |
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 |
HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Hayes (Properties) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets. |
The accounting policies detailed below have been applied consistently throughout the year. |
Revenue |
Revenue in respect of caravan sales is recognised upon the delivery of goods to the customer. Revenue in respect of property and site rentals is recognised upon the invoicing of rental amounts due. |
Property, plant and equipment |
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows: |
Land and buildings freehold | Nil |
Plant and machinery | 25% Reducing Balance |
Motor vehicles | 25% Reducing Balance |
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. |
Investment property |
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The valuations use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in Income Statement. |
Inventories |
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling. |
HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
3. | ACCOUNTING POLICIES - continued |
Taxation and deferred taxation |
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. |
Foreign currencies |
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement. |
Cash flow statement |
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand and deposits held at call with banks and bank |
overdrafts. Bank overdrafts are shown within current liabilities. |
Share capital |
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new |
ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | PROPERTY, PLANT AND EQUIPMENT |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
7. | INVENTORIES |
2024 | 2023 |
£ | £ |
Inventories |
8. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade receivables |
Prepayments and accrued income |
9. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade payables |
Taxation and social security |
Other payables |
10. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
11. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 62,541 | 39,213 |
Deferred tax |
£ |
Balance at 1 February 2023 |
Provided during year |
Balance at 31 January 2024 |
HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 2 | 2 | 2 |
13. | RESERVES |
Revaluation |
reserve |
£ |
At 1 February 2023 |
and 31 January 2024 |
14. | RELATED PARTY TRANSACTIONS |
At the year end an amount of £86,946 (2023 - £83,885) was owed to the directors from the company. |