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Registration number: 13373172

The Haigh Collective Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

The Haigh Collective Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Haigh Collective Ltd

Company Information

Directors

Reverend Samuel Edward Haigh

Mrs Hannah Louise Haigh

Registered office

The Rectory
13 Ribblesdale Place
Preston
PR1 3NA

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

The Haigh Collective Ltd

(Registration number: 13373172)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,895

3,904

Current assets

 

Stocks

6

3,000

1,250

Debtors

7

987

1,020

Cash at bank and in hand

 

9,935

4,542

 

13,922

6,812

Creditors: Amounts falling due within one year

8

(13,711)

(14,300)

Net current assets/(liabilities)

 

211

(7,488)

Total assets less current liabilities

 

7,106

(3,584)

Creditors: Amounts falling due after more than one year

8

(1,670)

-

Net assets/(liabilities)

 

5,436

(3,584)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

5,336

(3,684)

Shareholders' funds/(deficit)

 

5,436

(3,584)

For the financial year ending 31 May 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.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

 

The Haigh Collective Ltd

(Registration number: 13373172)
Balance Sheet as at 31 May 2024 (continued)

.........................................
Reverend Samuel Edward Haigh
Director

.........................................
Mrs Hannah Louise Haigh
Director

 

The Haigh Collective Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
The Rectory
13 Ribblesdale Place
Preston
PR1 3NA

These financial statements were authorised for issue by the Board on 30 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 current income 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:

 

The Haigh Collective Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

The Haigh Collective Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 5).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,698

1,445

 

The Haigh Collective Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

6,077

6,077

Additions

6,309

6,309

Disposals

(1,143)

(1,143)

At 31 May 2024

11,243

11,243

Depreciation

At 1 June 2023

2,173

2,173

Charge for the year

2,699

2,699

Eliminated on disposal

(524)

(524)

At 31 May 2024

4,348

4,348

Carrying amount

At 31 May 2024

6,895

6,895

At 31 May 2023

3,904

3,904

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

3,000

1,250

7

Debtors

Current

2024
£

2023
£

Trade debtors

750

930

Prepayments

180

80

Other debtors

57

10

 

987

1,020

8

Creditors

Creditors: amounts falling due within one year

 

The Haigh Collective Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

8

Creditors (continued)

2024
£

2023
£

Due within one year

Trade creditors

(7,349)

493

Taxation and social security

16,792

9,455

Accruals and deferred income

875

875

Other creditors

3,393

3,477

13,711

14,300

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

1,670

-

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

1,670

-