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Registration number: 09360911

JH Haslam Limited

Annual Report and Unaudited Financial Statements

for the Period from 29 March 2022 to 25 March 2023

 

JH Haslam Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

JH Haslam Limited

(Registration number: 09360911)
Balance Sheet as at 25 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

35,483

82,542

Current assets

 

Debtors

5

217

34,347

Cash at bank and in hand

 

459

518

 

676

34,865

Creditors: Amounts falling due within one year

6

(37,921)

(176,292)

Net current liabilities

 

(37,245)

(141,427)

Net liabilities

 

(1,762)

(58,885)

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

(2,762)

(59,885)

Shareholders' deficit

 

(1,762)

(58,885)

For the financial period ending 25 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account and director's report have not been delivered in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 15 October 2024
 

.........................................
Mr JD Haslam
Director

 

JH Haslam Limited

Notes to the Financial Statements for the Period from 29 March 2022 to 25 March 2023

1

General information

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

The address of its registered office is:
10-12 Wellington Street
(St Johns)
Blackburn
Lancashire
BB1 8AG
England

The principal place of business is:
Unit 2
Caxton Road
Fulwood
Preston
Lancashire
PR2 9ZB
England

These financial statements were authorised for issue by the director on 15 October 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.

The financial statements are presented in Sterling which is the functional currency of the company and the accounts are rounded to the nearest pound.

Group accounts not prepared

The company is part of a small group and the holding company has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The company is reliant upon the financial support of its parent company in order to meet its liabilities as they fall due. The parent company has indicated that this support will continue for the foreseeable future and as a result, the director has continued to adopt the going concern basis in preparing the financial statements.

 

JH Haslam Limited

Notes to the Financial Statements for the Period from 29 March 2022 to 25 March 2023

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.

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

Plant and machinery

25% per annum on reducing balance

Motor vehicles

25% per annum on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

JH Haslam Limited

Notes to the Financial Statements for the Period from 29 March 2022 to 25 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 4).

4

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 29 March 2022

123,345

147,377

270,722

Disposals

(107,855)

(61,885)

(169,740)

At 25 March 2023

15,490

85,492

100,982

Depreciation

At 29 March 2022

98,968

89,212

188,180

Charge for the period

1,522

7,754

9,276

Eliminated on disposal

(89,566)

(42,391)

(131,957)

At 25 March 2023

10,924

54,575

65,499

Carrying amount

At 25 March 2023

4,566

30,917

35,483

At 28 March 2022

24,377

58,165

82,542

 

JH Haslam Limited

Notes to the Financial Statements for the Period from 29 March 2022 to 25 March 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

26,724

Prepayments

-

2,280

Other debtors

217

5,343

 

217

34,347

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

-

671

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

26,749

167,681

Taxation and social security

 

-

1,668

Accruals and deferred income

 

10,000

5,000

Other creditors

 

1,172

1,272

 

37,921

176,292

7

Related party transactions

Summary of transactions with parent

JH Haslam (Preston) Limited
 Inter-company loan.
 The terms of the loan are that it is repayable on demand and interest free.
 

Loans to related parties

2023

Parent
£

Total
£

At start of period

(167,681)

(167,681)

Repaid

140,932

140,932

At end of period

(26,749)

(26,749)

 

JH Haslam Limited

Notes to the Financial Statements for the Period from 29 March 2022 to 25 March 2023

2022

Parent
£

Total
£

At start of period

92,032

92,032

Repaid

(259,713)

(259,713)

At end of period

(167,681)

(167,681)

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1,000

1,000

1,000

1,000