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Registration number: 10724682

Hadfer Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Hadfer Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Hadfer Limited

(Registration number: 10724682)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

331,459

340,788

Current assets

 

Debtors

5

1,006

2,221

Cash at bank and in hand

 

31,991

9,596

 

32,997

11,817

Creditors: Amounts falling due within one year

6

(33,665)

(34,591)

Net current liabilities

 

(668)

(22,774)

Total assets less current liabilities

 

330,791

318,014

Creditors: Amounts falling due after more than one year

6

(499,602)

(481,107)

Net liabilities

 

(168,811)

(163,093)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(168,813)

(163,095)

Shareholders' deficit

 

(168,811)

(163,093)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

 

Hadfer Limited

(Registration number: 10724682)
Balance Sheet as at 30 April 2024

.........................................
Miss J Wallbanks
Director

 

Hadfer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bwlch Y Moch
Fford Prenteg
Tremadog
Wales
LL49 9SN

These financial statements were authorised for issue by the Board on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At 30th April 2024 the company had negative reserves of £168,813, the company has the continued support of the directors and they have agreed they will not call in the loans in the next 12 months and therefore the financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hadfer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

15% reducing balance

Plant and machinery

15% reducing balance

Land and buildings

The land and buildings is an appreciating asset and therefore not depreciated.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Hadfer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis or similar credit risk characteristics.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Hadfer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

247,822

167,545

415,367

Additions

-

5,429

5,429

At 30 April 2024

247,822

172,974

420,796

Depreciation

At 1 May 2023

-

74,579

74,579

Charge for the year

-

14,758

14,758

At 30 April 2024

-

89,337

89,337

Carrying amount

At 30 April 2024

247,822

83,637

331,459

At 30 April 2023

247,822

92,966

340,788

Included within the net book value of land and buildings above is £247,822 (2023 - £247,822) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,006

646

Other debtors

-

1,575

 

1,006

2,221

 

Hadfer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11,442

12,756

Taxation and social security

 

872

485

Accruals and deferred income

 

1,350

1,350

Other creditors

 

20,001

20,000

 

33,665

34,591

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £8114 (2023 - £9150).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

499,602

481,107

2024
£

2023
£

Due after more than five years

After more than five years by instalments

117,412

118,381

-

-

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £132920 (2023 - £139997).

7

Related party transactions

At 30th April 2024 the money owed to the directors totalled £365,243 (2023 £336,620).

 

Hadfer Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Non adjusting events after the financial period

There were no material events up to the date of approval of the financial statements by the board.