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REGISTERED NUMBER: 01503795 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

HAWKSLEY & SONS LIMITED

HAWKSLEY & SONS LIMITED (REGISTERED NUMBER: 01503795)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAWKSLEY & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: M W Gale
H W Gale
A F Gale





SECRETARY: M W Gale





REGISTERED OFFICE: Marlborough Road
Lancing Business Park
Lancing
West Sussex
BN15 8TG





REGISTERED NUMBER: 01503795 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

HAWKSLEY & SONS LIMITED (REGISTERED NUMBER: 01503795)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 437,824 440,654

CURRENT ASSETS
Stocks 5 45,300 35,300
Debtors 6 500,945 410,350
Cash at bank and in hand 36,558 35,480
582,803 481,130
CREDITORS
Amounts falling due within one year 7 302,384 196,024
NET CURRENT ASSETS 280,419 285,106
TOTAL ASSETS LESS CURRENT
LIABILITIES

718,243

725,760

CREDITORS
Amounts falling due after more than one
year

8

12,500

22,500
NET ASSETS 705,743 703,260

CAPITAL AND RESERVES
Called up share capital 580,168 580,168
Fair value reserve 9 82,748 82,748
Retained earnings 42,827 40,344
SHAREHOLDERS' FUNDS 705,743 703,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

HAWKSLEY & SONS LIMITED (REGISTERED NUMBER: 01503795)

BALANCE SHEET - continued
29TH FEBRUARY 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 Board of Directors and authorised for issue on 29th November 2024 and were signed on its behalf by:





M W Gale - Director


HAWKSLEY & SONS LIMITED (REGISTERED NUMBER: 01503795)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Hawksley & Sons 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

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

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.


HAWKSLEY & SONS LIMITED (REGISTERED NUMBER: 01503795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.
Stock is also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 12 ) .

HAWKSLEY & SONS LIMITED (REGISTERED NUMBER: 01503795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1st March 2023
and 29th February 2024 420,000 104,202 23,224 547,426
DEPRECIATION
At 1st March 2023 - 87,291 19,481 106,772
Charge for year - 2,269 561 2,830
At 29th February 2024 - 89,560 20,042 109,602
NET BOOK VALUE
At 29th February 2024 420,000 14,642 3,182 437,824
At 28th February 2023 420,000 16,911 3,743 440,654

Cost or valuation at 29th February 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2019 82,748 - - 82,748
Cost 337,252 104,202 23,224 464,678
420,000 104,202 23,224 547,426

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 337,252 337,252

Freehold land and buildings were valued on an open market basis on 28th February 2024 by the directors .

5. STOCKS
2024 2023
£    £   
Stocks 37,800 27,800
Raw materials 7,500 7,500
45,300 35,300

HAWKSLEY & SONS LIMITED (REGISTERED NUMBER: 01503795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 114,409 87,051
Other debtors 386,536 323,299
500,945 410,350

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 109,178 41,741
Taxation and social security 31,080 20,445
Other creditors 152,126 123,838
302,384 196,024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,500 22,500

9. RESERVES
Fair
value
reserve
£   
At 1st March 2023
and 29th February 2024 82,748

HAWKSLEY & SONS LIMITED (REGISTERED NUMBER: 01503795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

10. RELATED PARTY DISCLOSURES

Blastreat (Arundel) Limited
Blastreat (Arundel) Limited is the company's ultimate parent company.

During the year the company made purchases of £nil (2023: £nil) and sales of £nil (2023:£nil) to/from Blastreat (Arundel) Limited. At the year end the company had a sales ledger balance with Blastreat (Arundel) Limited of £10,000 (2023: £10,000).

Lo-Laboroptik Limited
Lo-Laboroptik Limited is a connected company as it has directors and shareholders in common with Hawksley & Sons Limited.

During the year the company made purchases of £88,900 (2023: £58,900) from Lo-laboroptik Limited and recharged wages to that company of £nil (2023: £11,000). Goods were purchased at cost of £30,000 (2023: £nil). At the year end the net amount owed from that company on sales and purchase ledger balances was £ (39,4262023: £69,426).

Avantec Limited
Avantec Limited is a connected company as it has directors and shareholders in common with Hawksley & Sons Limited.

Avantec Limited was owed by the company £55,231 (2023: £57,034) in respect of a loan.

Southdown Construction (Metalwork) Limited
Southdown Construction (Metalwork) Limited is a connected company as M W Gale is a member of the key management personnel of the company.

During the year the company made sales of £16,666 (2023: £66,000) and charged rent of £nil (2023: £25,000) to Southdown Construction (Metalwork) Limited. At the year end the company was owed £201,000 (2023: £91,000) by Southdown Construction (Metalwork) Limited.