Hadfield Bros Ltd Filleted Accounts Cover
Hadfield Bros Ltd
Company No. 11647392
Information for Filing with The Registrar
31 October 2023
Hadfield Bros Ltd Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 October 2023.
Principal activities
The principal activity of the company during the year under review was property lettings and investment.
Directors
The Directors who served at any time during the year were as follows:
Andrew Hadfield
Nicholas Hadfield
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Andrew Hadfield
Director
09 October 2024
Hadfield Bros Ltd Balance Sheet Registrar
at
31 October 2023
Company No.
11647392
Notes
2023
2022
£
£
Fixed assets
Investment property
4
243,000240,000
243,000240,000
Current assets
Cash at bank and in hand
10,0476,874
10,0476,874
Creditors: Amount falling due within one year
5
(116,357)
(115,707)
Net current liabilities
(106,310)
(108,833)
Total assets less current liabilities
136,690131,167
Creditors: Amounts falling due after more than one year
6
(66,557)
(69,690)
Provisions for liabilities
Deferred taxation
(10,333)
(9,763)
Net assets
59,80051,714
Capital and reserves
Called up share capital
200200
Revaluation reserve
9
44,05241,622
Profit and loss account
9
15,5489,892
Total equity
59,80051,714
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 09 October 2024 and signed on its behalf by:
Andrew Hadfield
Director
09 October 2024
Hadfield Bros Ltd Notes to the Accounts Registrar
for the year ended 31 October 2023
1
General information
Hadfield Bros Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 11647392
Its registered office is:
6 Highfield Avenue
Waterlooville
Hampshire
PO7 7PX
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the rental period incurred.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are 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.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Investment property
Freehold Investment Property
£
Valuation
At 1 November 2022
240,000
Revaluation
3,000
At 31 October 2023
243,000
5
Creditors:
amounts falling due within one year
2023
2022
£
£
Taxes and social security
1,327
497
Loans from directors
113,830113,830
Other creditors
1,2001,380
116,357115,707
6
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
66,55769,690
66,55769,690
Liabilities repayable in more than five years after the balance sheet date
Amount repayable by instalments
66,556
69,690
66,55669,690
The loan is secured by charge on the freehold investment property.
7
Creditors: secured liabilities
2023
2022
£
£
The aggregate amount of secured liabilities included within creditors
66,55669,690
8
Share Capital
200 ordinary £1 shares called up and fully paid.
9
Reserves
Revaluation Reserve
Total other reserves
£
£
At 1 November 2021
33,522
33,522
Movement on revaluation reserve
10,000
10,000
Deferred taxation
(1,900)
(1,900)
At 31 October 2022 and 1 November 2022
41,622
41,622
Movement on revaluation reserve
3,000
3,000
Deferred taxation
(570)
(570)
At 31 October 2023
44,05244,052
Revaluation reserve - reflects the revaluation of property other than investment properties.
Profit and loss account - includes all current and prior period retained profits and losses.
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