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REGISTERED NUMBER: 00410986 (England and Wales)















T.W.HAYES,LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024






T.W.HAYES,LIMITED (REGISTERED NUMBER: 00410986)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


T.W.HAYES,LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024







DIRECTORS: D J R Hayes
Mrs A M Hayes
Miss M K Hayes





SECRETARY: Mrs A M Hayes





REGISTERED OFFICE: Spridlington House
Faldingworth Road
Spridlington
Market Rasen
Lincolnshire
LN8 2DE





REGISTERED NUMBER: 00410986 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

T.W.HAYES,LIMITED (REGISTERED NUMBER: 00410986)

STATEMENT OF FINANCIAL POSITION
5 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 976,813 1,004,368

CURRENT ASSETS
Inventories 316,111 300,690
Debtors 5 124,920 134,326
Cash at bank 101,863 173,163
542,894 608,179
CREDITORS
Amounts falling due within one year 6 130,678 94,810
NET CURRENT ASSETS 412,216 513,369
TOTAL ASSETS LESS CURRENT LIABILITIES 1,389,029 1,517,737

CREDITORS
Amounts falling due after more than one year 7 (86,599 ) (84,207 )

PROVISIONS FOR LIABILITIES (65,035 ) (77,148 )
NET ASSETS 1,237,395 1,356,382

CAPITAL AND RESERVES
Called up share capital 9 2,000 2,000
Retained earnings 1,235,395 1,354,382
SHAREHOLDERS' FUNDS 1,237,395 1,356,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

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 5 August 2024 and were signed on its behalf by:





D J R Hayes - Director


T.W.HAYES,LIMITED (REGISTERED NUMBER: 00410986)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1. STATUTORY INFORMATION

T.W.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.

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

Revenue comprises net invoiced sales of produce and livestock, excluding value added tax.

Revenue is recognised when the significant risks and rewards have passed to the buyer (typically considered to be on despatch), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and that the costs incurred, or to be incurred, in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance, 10% on reducing balance, 5% on cost and 3% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Government grants
Government grants are recognised when there is reasonable assurance that the grant will be received and any conditions attached will be complied with. Grants are recognised as income over the period necessary to match them with related costs, for which they are intended to compensate, on a systematic basis.

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

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


T.W.HAYES,LIMITED (REGISTERED NUMBER: 00410986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 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 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.

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.

Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 6 April 2023 540,054 1,182,918 1,722,972
Additions - 42,181 42,181
At 5 April 2024 540,054 1,225,099 1,765,153
DEPRECIATION
At 6 April 2023 - 718,604 718,604
Charge for year - 69,736 69,736
At 5 April 2024 - 788,340 788,340
NET BOOK VALUE
At 5 April 2024 540,054 436,759 976,813
At 5 April 2023 540,054 464,314 1,004,368

T.W.HAYES,LIMITED (REGISTERED NUMBER: 00410986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 92,371 105,238
Other debtors 32,549 29,088
124,920 134,326

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 24,811 22,849
Hire purchase contracts 6,618 -
Trade creditors 34,561 34,364
Taxation and social security 1,255 7,570
Other creditors 63,433 30,027
130,678 94,810

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 57,684 84,207
Hire purchase contracts 28,915 -
86,599 84,207

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 5,595

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 82,495 107,056
Hire purchase contracts 35,533 -
118,028 107,056

Bank loans are secured by fixed and floating charges over the company's assets. Hire purchase contracts are secured on the asset to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,500 Ordinary A £1 1,500 1,500
500 Ordinary B £1 500 500
2,000 2,000