Registration number:
JH Haslam Limited
for the Period from 29 March 2022 to 25 March 2023
JH Haslam Limited
(Registration number: 09360911)
Balance Sheet as at 25 March 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
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 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
......................................... |
JH Haslam Limited
Notes to the Financial Statements for the Period from 29 March 2022 to 25 March 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
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
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Tangible assets |
Motor vehicles |
Plant and machinery |
Total |
|
Cost or valuation |
|||
At 29 March 2022 |
|
|
|
Disposals |
( |
( |
( |
At 25 March 2023 |
|
|
|
Depreciation |
|||
At 29 March 2022 |
|
|
|
Charge for the period |
|
|
|
Eliminated on disposal |
( |
( |
( |
At 25 March 2023 |
|
|
|
Carrying amount |
|||
At 25 March 2023 |
|
|
|
At 28 March 2022 |
|
|
|
JH Haslam Limited
Notes to the Financial Statements for the Period from 29 March 2022 to 25 March 2023
Debtors |
Current |
2023 |
2022 |
Trade debtors |
- |
|
Prepayments |
- |
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
|
Due within one year |
|||
Trade creditors |
- |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
Taxation and social security |
- |
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Related party transactions |
Summary of transactions with parent
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 |
( |
( |
Repaid |
|
|
At end of period |
( |
( |
|
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 |
|
|
Repaid |
( |
( |
At end of period |
( |
( |
|
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,000 |
|
1,000 |