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REGISTERED NUMBER: 05268055 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Hall & Featherstone Limited

Hall & Featherstone Limited (Registered number: 05268055)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hall & Featherstone Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: S W Hall
M Featherstone





SECRETARY: Mrs C Hall





REGISTERED OFFICE: 91 York Road
Market Weighton
YORK
East Yorkshire
YO43 3EE





REGISTERED NUMBER: 05268055 (England and Wales)





ACCOUNTANTS: Fisher & Company Limited
Kingfisher House
65 Market Place
Market Weighton
York
East Riding of Yorks
YO43 3AN

Hall & Featherstone Limited (Registered number: 05268055)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 190,582 187,293
190,582 187,293

CURRENT ASSETS
Stocks 46,900 48,797
Debtors 6 44,391 59,968
Cash at bank 48,080 42,271
139,371 151,036
CREDITORS
Amounts falling due within one year 7 222,602 217,718
NET CURRENT LIABILITIES (83,231 ) (66,682 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,351

120,611

CREDITORS
Amounts falling due after more than one
year

8

(34,182

)

(47,949

)

PROVISIONS FOR LIABILITIES (8,064 ) (6,855 )
NET ASSETS 65,105 65,807

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,005 65,707
SHAREHOLDERS' FUNDS 65,105 65,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Hall & Featherstone Limited (Registered number: 05268055)

Balance Sheet - continued
31 December 2023


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 16 September 2024 and were signed on its behalf by:





M Featherstone - Director


Hall & Featherstone Limited (Registered number: 05268055)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Hall & Featherstone 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.

No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the directors.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on the directors historical experience and knowledge as well as other factors which may be considered relevant, as a result the actual results may differ from these estimates.

The estimates and underlying assumptions applied are reviewed by the directors on an ongoing basis.

Revisions to these accounting estimates are recognised in the period to which the the revisions have been , revised where these revisions affect only that period, or in the period of revision and future periods where this revision would affect both current and future periods.

No key sources of estimation uncertainty are noted by management that have a significant effect on the amounts recognised in the financial statements.

Revenue recognition
(i) Sale of services, goods and materials: Revenue for the sale of services, goods and materials is recognised when work is completed and the goods are delivered or used and legal title of the goods supplied has passed to the customer, sales are made on a credit basis. The amounts reported are net of VAT and trade discounts.

(ii) Interest income: Interest income is recognised using the effective interest rate method.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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.

Hall & Featherstone Limited (Registered number: 05268055)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost less estimated residual value, of each item on a systematic basis over their expected useful lives as follows:

Property- 2.5% on reducing balance
Plant and equipment- 25% - 33% on reducing balance

The land element of freehold property is not depreciated.

Assets held under hire purchase agreements or finance leases are depreciated in the same way as owned assets.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Inventories and work in progress
Inventories are stated at the lower of cost and estimated selling price less costs to sale. Inventories are recognised as an expenses in the period in which the related revenue is recognised.

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow moving stock where appropriate.

Work in progress is recognised by way of material costs allocated on each job and the value of labour allocated as at the balance sheet date.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


Hall & Featherstone Limited (Registered number: 05268055)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation and deferred tax
Taxation expenses for the year comprises current and deferred tax recognised in the reporting period. 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 represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of the income and expense in the assessments in periods different from those in which they are recognised in the financial statements.

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.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases 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 or the lease term, whichever is the shorter.

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

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

Rentals paid under operating leases are charged to the profit and loss account as incurred.

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.

Debtors and creditors receivable/payable within one year
i) Trade and other debtors:

Short term trade and other debtors are initially measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method, less any impairment.

ii) Trade and other creditors:

Short term trade and other creditors are initially measured at the transaction price, Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Hall & Featherstone Limited (Registered number: 05268055)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Related parties
For the purposes of these financial statements, a party is considered to be related to the company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the company or exercise significant influence over the company in the making of financial and operating policy decisions, or has overall or joint control over the company;

(ii) the company and the party are subject to common control;

(iii) the party is an associate of the company a joint venture in which the company is a party to;

(iv) the party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v) the party is a close family member of a party referred to within (i) or is an entity under the control, joint control or has significant influence of such individuals;

(vi) the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company;

(vii) the party, or any member of a group of which it is part of, provides key management personnel services to the company or the group.

Close family members of an individual are those family members who may be expected to influence or be influenced by, the relevant individuals in their dealings with the entity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 20,000
AMORTISATION
At 1 January 2023
and 31 December 2023 20,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Hall & Featherstone Limited (Registered number: 05268055)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 170,256 123,187 293,443
Additions - 20,449 20,449
Disposals - (39,480 ) (39,480 )
At 31 December 2023 170,256 104,156 274,412
DEPRECIATION
At 1 January 2023 19,044 87,106 106,150
Charge for year 3,072 10,935 14,007
Eliminated on disposal - (36,327 ) (36,327 )
At 31 December 2023 22,116 61,714 83,830
NET BOOK VALUE
At 31 December 2023 148,140 42,442 190,582
At 31 December 2022 151,212 36,081 187,293

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 18,800
Additions 11,000
Transfer to ownership (18,800 )
At 31 December 2023 11,000
DEPRECIATION
At 1 January 2023 9,157
Charge for year 3,074
Transfer to ownership (11,568 )
At 31 December 2023 663
NET BOOK VALUE
At 31 December 2023 10,337
At 31 December 2022 9,643

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,912 51,461
Other debtors 9,479 8,507
44,391 59,968

Hall & Featherstone Limited (Registered number: 05268055)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 24,779 53,977
Hire purchase contracts (see note 9) 2,933 3,580
Trade creditors 127,119 93,565
Taxation and social security 51,032 59,390
Other creditors 16,739 7,206
222,602 217,718

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 28,804 47,949
Hire purchase contracts (see note 9) 5,378 -
34,182 47,949

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 2,933 3,580
Between one and five years 5,378 -
8,311 3,580

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 5,017 33,598
Bank loans 48,566 68,328
Hire purchase contracts 8,311 3,580
61,894 105,506

Finance arrangements are secured against the individual assets under current finance arrangements.

The mortgage has been secured against the freehold land & buildings.

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.