Registration number:
Hayter Investments Limited
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Hayter Investments Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Hayter Investments Limited
Company Information
Directors |
Mr J H F Hayter Mr J H Dalrymple Mrs B M Getley Mrs A E L Inkin |
Registered office |
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Accountants |
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Hayter Investments Limited
Statement of Financial Position as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
2,272,216 |
2,145,118 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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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:
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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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Hayter Investments Limited
Statement of Financial Position as at 31 March 2024
Approved and authorised by the
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Mr J H F Hayter
Director
Company registration number: 03336824
Hayter Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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 principal activity of the company is that of investment management.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
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.
Going concern
The company had net assets at 31 March 2024 amounting to £1,794,344. The nature of the company's affairs are straight forward and the company has few fixed overheads. The company manages its investment portfolio with advice from the investment managers.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. On the basis of the above the financial statements have been prepared on the going concern basis.
Revenue recognition
Turnover comprises investment income received or receivable in the ordinary course of the company's activities.
The company recognises dividend income on the date that dividends are declared and contractually receivable.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Hayter Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
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.
Staff numbers |
The average number of persons employed by the company during the year, was
TAXATION |
2024 |
2023 |
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£ |
£ |
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Movement on deferred tax on unrealised profits |
31,286 |
120,012 |
No corporate tax arises on the result for the year. The rate of corporate tax was 25% throughout the year.
Hayter Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Investments |
Fixed asset investments |
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Fair value |
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At 1 April 2023 |
2,145,118 |
Fair value adjustments |
125,077 |
Additions |
29,590 |
Disposals |
(27,569) |
At 31 March 2024 |
2,272,216 |
Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Accruals and deferred income |
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Reserves |
The share premium account is the reserve that records any premium paid over the nominal value of any shares issued.
The profit and loss account is the reserve that records retained earnings and accumulated losses. Of the amount standing to the credit of the profit and loss account, an amount of £1,010,515 (2023 - £916,722) is not realised and therefore not distributable, in accordance with the Companies Act 2006.