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REGISTERED NUMBER: 01954313 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Haden Freeman Limited

Haden Freeman Limited (Registered number: 01954313)






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


Haden Freeman Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: W G Baxter
M A L Evans
Mrs D M T O'Connor





SECRETARY: M A L Evans





REGISTERED OFFICE: Freeman House
Orbital 24, Oldham Street
Denton
Manchester
M34 3SU





REGISTERED NUMBER: 01954313 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Haden Freeman Limited (Registered number: 01954313)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,762 12,152

CURRENT ASSETS
Debtors 5 915,514 1,126,956
Cash at bank 400,366 183,174
1,315,880 1,310,130
CREDITORS
Amounts falling due within one year 6 846,983 812,020
NET CURRENT ASSETS 468,897 498,110
TOTAL ASSETS LESS CURRENT
LIABILITIES

478,659

510,262

CREDITORS
Amounts falling due after more than one year 7 16,809 26,809
NET ASSETS 461,850 483,453

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 451,850 473,453
461,850 483,453

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.

Haden Freeman Limited (Registered number: 01954313)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





W G Baxter - Director


Haden Freeman Limited (Registered number: 01954313)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Haden Freeman 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.

Preparation of consolidated financial statements
The financial statements contain information about Haden Freeman Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised in the statement of comprehensive income using the effective interest method.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings- between 10% on cost to 33% on cost

Tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

Government grants
Grants of a revenue nature are credited to income in the period to which they relate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Haden Freeman Limited (Registered number: 01954313)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Operating leases
Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the period of the lease.

Going concern
The company's financial statements for the year ended 31 December 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 17 ) .

Haden Freeman Limited (Registered number: 01954313)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 282,337
Additions 4,263
At 31 December 2023 286,600
DEPRECIATION
At 1 January 2023 270,184
Charge for year 6,654
At 31 December 2023 276,838
NET BOOK VALUE
At 31 December 2023 9,762
At 31 December 2022 12,153

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 489,198 698,462
Amounts recoverable on
contracts 52,061 29,274
Other debtors 103,469 107,039
644,728 834,775

Amounts falling due after more than one year:
Amounts owed by group undertakings 270,786 292,181

Aggregate amounts 915,514 1,126,956

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Payments on account 452,172 243,373
Trade creditors 182,152 295,671
Taxation and social security 101,316 86,154
Other creditors 101,343 176,822
846,983 812,020

Haden Freeman Limited (Registered number: 01954313)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 16,809 26,809

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 13,183
Between one and five years 155,153 45,119
155,153 58,302

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.


During the year, the company provided goods and services to a value of £38,346 (2022: £83,114) and purchased goods and services to a value of £18,622 (2022: £18,852) from an entity in which one of the directors of the company has a material interest..
At 31 December 2023, there was £5,041 (2022: £31,824 owed to) owed by this entity.

At 31 December 2023, a balance of £5,993 (2022: £17,787 ) was owed to an entity in which the directors of the company have a material interest.

During the year, the company was provided with services amounting to £34,747 (2022: £36,024) from an entity in which one of the director's children has a material interest. At 31 December 2023, there was £1,354 (2022: £2,031) owed to this entity.

10. ULTIMATE PARENT UNDERTAKING

The company's immediate parent undertaking is Validation Services Limited. The company's ultimate parent company is Haden Freeman (Holdings) Limited, a company registered in England and Wales.