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REGISTERED NUMBER: 03203610 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

READ & ERRINGTON LIMITED

READ & ERRINGTON LIMITED (REGISTERED NUMBER: 03203610)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


READ & ERRINGTON LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: Mr A M Farrar





SECRETARY: Mrs A L Farrar





REGISTERED OFFICE: 17 St Peters Place
Fleetwood
Lancashire
FY7 6EB





REGISTERED NUMBER: 03203610 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

READ & ERRINGTON LIMITED (REGISTERED NUMBER: 03203610)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 102,536 87,310

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 5 1,728,961 1,438,619
Cash at bank and in hand 62,764 383,295
1,801,725 1,831,914
CREDITORS
Amounts falling due within one year 6 (400,454 ) (491,817 )
NET CURRENT ASSETS 1,401,271 1,340,097
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,503,807

1,427,407

PROVISIONS FOR LIABILITIES (24,034 ) (19,700 )
NET ASSETS 1,479,773 1,407,707

CAPITAL AND RESERVES
Called up share capital 39 39
Capital redemption reserve 60 60
Retained earnings 1,479,674 1,407,608
1,479,773 1,407,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

READ & ERRINGTON LIMITED (REGISTERED NUMBER: 03203610)

BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





Mr A M Farrar - Director


READ & ERRINGTON LIMITED (REGISTERED NUMBER: 03203610)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Read & Errington Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

READ & ERRINGTON LIMITED (REGISTERED NUMBER: 03203610)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 37,707 84,142 271,862 393,711
Additions 2,832 - 51,300 54,132
Disposals (5,383 ) - (139,512 ) (144,895 )
At 31 March 2024 35,156 84,142 183,650 302,948
DEPRECIATION
At 1 April 2023 19,534 69,642 217,226 306,402
Charge for year 2,991 2,180 24,414 29,585
Eliminated on disposal (4,342 ) - (131,233 ) (135,575 )
At 31 March 2024 18,183 71,822 110,407 200,412
NET BOOK VALUE
At 31 March 2024 16,973 12,320 73,243 102,536
At 31 March 2023 18,173 14,500 54,636 87,309

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 368,648 93,664
Amounts owed by group undertakings 1,265,625 1,265,535
Other debtors 500 -
Directors' current accounts 50,360 49,556
Tax 28,202 16,556
Prepayments 15,626 13,308
1,728,961 1,438,619

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 159,712 211,050
Tax 94,848 156,830
Social security and other taxes 27,642 13,323
VAT 101,010 101,152
Other creditors 10,567 4,151
Accruals and deferred income 6,675 5,311
400,454 491,817

7. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had operating lease commitments of £224,559 (2023: £236,940)

READ & ERRINGTON LIMITED (REGISTERED NUMBER: 03203610)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£    £   
Mr A M Farrar
Balance outstanding at start of year 49,556 18,930
Amounts advanced 3,225 30,626
Amounts repaid (2,421 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 50,360 49,556

The loan to the director was unsecured and repayable on demand. Interest is payable at the HMRC rate applicable to beneficial loan arrangements.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A M Farrar.

Mr A Farrar is a director of the company and a shareholder in the company's parent company, HAAM Holdings Limited.