Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr Daniel Hayton 30/01/2003 Mrs Rohana Hayton-Ahmed 01/03/2010 24 September 2024 The principal activity of the company continued to be that of optometry. 04652606 2023-12-31 04652606 bus:Director1 2023-12-31 04652606 bus:Director2 2023-12-31 04652606 2022-12-31 04652606 core:CurrentFinancialInstruments 2023-12-31 04652606 core:CurrentFinancialInstruments 2022-12-31 04652606 core:ShareCapital 2023-12-31 04652606 core:ShareCapital 2022-12-31 04652606 core:RetainedEarningsAccumulatedLosses 2023-12-31 04652606 core:RetainedEarningsAccumulatedLosses 2022-12-31 04652606 core:Goodwill 2022-12-31 04652606 core:Goodwill 2023-12-31 04652606 core:Vehicles 2022-12-31 04652606 core:FurnitureFittings 2022-12-31 04652606 core:ComputerEquipment 2022-12-31 04652606 core:Vehicles 2023-12-31 04652606 core:FurnitureFittings 2023-12-31 04652606 core:ComputerEquipment 2023-12-31 04652606 2023-01-01 2023-12-31 04652606 bus:FilletedAccounts 2023-01-01 2023-12-31 04652606 bus:SmallEntities 2023-01-01 2023-12-31 04652606 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04652606 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04652606 bus:Director1 2023-01-01 2023-12-31 04652606 bus:Director2 2023-01-01 2023-12-31 04652606 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 04652606 core:Vehicles 2023-01-01 2023-12-31 04652606 core:FurnitureFittings 2023-01-01 2023-12-31 04652606 core:ComputerEquipment 2023-01-01 2023-12-31 04652606 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 04652606 (England and Wales)

DANIEL HAYTON LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

DANIEL HAYTON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

DANIEL HAYTON LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DANIEL HAYTON LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DIRECTORS Mr Daniel Hayton
Mrs Rohana Hayton-Ahmed
SECRETARY Mrs Rohana Hayton-Ahmed
REGISTERED OFFICE 2 Syke Green
Scarcroft
Leeds
LS14 3BS
United Kingdom
COMPANY NUMBER 04652606 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
DANIEL HAYTON LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
DANIEL HAYTON LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 5 33,228 41,745
33,228 41,745
Current assets
Stocks 38,607 47,170
Debtors 6 22,632 21,538
Cash at bank and in hand 118,259 144,196
179,498 212,904
Creditors: amounts falling due within one year 7 ( 36,263) ( 44,910)
Net current assets 143,235 167,994
Total assets less current liabilities 176,463 209,739
Provision for liabilities ( 8,213) ( 10,385)
Net assets 168,250 199,354
Capital and reserves
Called-up share capital 100 100
Profit and loss account 168,150 199,254
Total shareholders' funds 168,250 199,354

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Daniel Hayton Limited (registered number: 04652606) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

Mr Daniel Hayton
Director
DANIEL HAYTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DANIEL HAYTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Daniel Hayton Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Syke Green, Scarcroft, Leeds, LS14 3BS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. Amounts 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 9

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 26,819 26,819
At 31 December 2023 26,819 26,819
Accumulated amortisation
At 01 January 2023 26,819 26,819
At 31 December 2023 26,819 26,819
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

5. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 January 2023 31,606 37,787 37,529 106,922
Additions 0 0 2,358 2,358
At 31 December 2023 31,606 37,787 39,887 109,280
Accumulated depreciation
At 01 January 2023 14,567 32,057 18,553 65,177
Charge for the financial year 4,260 1,432 5,183 10,875
At 31 December 2023 18,827 33,489 23,736 76,052
Net book value
At 31 December 2023 12,779 4,298 16,151 33,228
At 31 December 2022 17,039 5,730 18,976 41,745

6. Debtors

2023 2022
£ £
Trade debtors 15,935 16,766
Other debtors 6,697 4,772
22,632 21,538

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 10,963 7,552
Amounts owed to directors 54 2,068
Accruals 3,725 3,849
Taxation and social security 21,044 31,217
Other creditors 477 224
36,263 44,910

8. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 216,000 0