The Haynes Corporation Limited 06089885 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of letting out unfurnished properties. Digita Accounts Production Advanced 6.30.9574.0 true true 06089885 2023-04-01 2024-03-31 06089885 2024-03-31 06089885 core:RetainedEarningsAccumulatedLosses 2024-03-31 06089885 core:ShareCapital 2024-03-31 06089885 core:CurrentFinancialInstruments 2024-03-31 06089885 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06089885 core:Non-currentFinancialInstruments 2024-03-31 06089885 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06089885 core:FurnitureFittings 2024-03-31 06089885 bus:SmallEntities 2023-04-01 2024-03-31 06089885 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06089885 bus:FilletedAccounts 2023-04-01 2024-03-31 06089885 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06089885 bus:RegisteredOffice 2023-04-01 2024-03-31 06089885 bus:CompanySecretary1 2023-04-01 2024-03-31 06089885 bus:Director2 2023-04-01 2024-03-31 06089885 bus:Director3 2023-04-01 2024-03-31 06089885 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06089885 core:FurnitureFittings 2023-04-01 2024-03-31 06089885 countries:EnglandWales 2023-04-01 2024-03-31 06089885 2023-03-31 06089885 core:FurnitureFittings 2023-03-31 06089885 2022-04-01 2023-03-31 06089885 2023-03-31 06089885 core:RetainedEarningsAccumulatedLosses 2023-03-31 06089885 core:ShareCapital 2023-03-31 06089885 core:CurrentFinancialInstruments 2023-03-31 06089885 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06089885 core:Non-currentFinancialInstruments 2023-03-31 06089885 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06089885 core:FurnitureFittings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06089885

The Haynes Corporation Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

The Haynes Corporation Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

The Haynes Corporation Limited

Company Information

Directors

M Haynes

V Haynes

Company secretary

V Haynes

Registered office

Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

The Haynes Corporation Limited

(Registration number: 06089885)
Balance Sheet
31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

990

1,163

Investment property

5

135,000

405,000

 

135,990

406,163

Current assets

 

Debtors

6

618

34,013

Cash at bank and in hand

 

45,940

11,339

 

46,558

45,352

Creditors: Amounts falling due within one year

7

(88,474)

(116,333)

Net current liabilities

 

(41,916)

(70,981)

Total assets less current liabilities

 

94,074

335,182

Creditors: Amounts falling due after more than one year

7

(106,507)

(313,994)

Net (liabilities)/assets

 

(12,433)

21,188

Capital and reserves

 

Called up share capital

200

200

Retained earnings

(12,633)

20,988

Shareholders' (deficit)/funds

 

(12,433)

21,188

 

The Haynes Corporation Limited

(Registration number: 06089885)
Balance Sheet
31 March 2024

For the financial year ending 31 March 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 23 August 2024 and signed on its behalf by:
 



M Haynes
Director

 

The Haynes Corporation Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 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:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

These financial statements were authorised for issue by the Board on 23 August 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

The financial statements have been prepared on a going concern basis due to the ongoing support of the directors.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for rental income.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The Haynes Corporation Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Fixtures and fittings

15% per annum reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Changes in fair value are recognised in profit or loss.

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 creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are recognised at the transaction price. 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

The Haynes Corporation Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 2).

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

14,445

14,445

At 31 March 2024

14,445

14,445

Depreciation

At 1 April 2023

13,282

13,282

Charge for the year

173

173

At 31 March 2024

13,455

13,455

Carrying amount

At 31 March 2024

990

990

At 31 March 2023

1,163

1,163

5

Investment properties

2024
£

At 1 April

405,000

Disposals

(270,000)

At 31 March

135,000


The properties have been valued on a market value basis by the directors and their agents.

6

Debtors

 

The Haynes Corporation Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

2024
£

2023
£

Other debtors

515

30,787

Prepayments

103

3,226

618

34,013

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

119

6,071

Taxation and social security

3,073

4,819

Accruals and deferred income

1,068

978

Other creditors

84,214

104,465

88,474

116,333

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

106,507

313,994


Creditors falling due after more than one year include bank loans which are secured of £106,507 (2023 - £313,994).

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

106,507

313,994