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Registered Number: 07530112
England and Wales

 

 

 

HAYGARTH ROSS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Directors Mr Nigel Winston Browner
Mr James Ross
Registered Number 07530112
Registered Office Shepherds Cottage
Little Ann
Andover
Hampshire
SP11 7DW
Accountants River View Tax & Accountancy Ltd
5 Beresford Gate
South Way
Andover
Hampshire
SP10 5BN
1
In order to assist you fulfil your duties under the Companies Act 2006, and in accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

This report is made solely to the Board of Directors of Haygarth Ross Limited, as a body, in accordance with the terms of our letter of engagement.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Haygarth Ross Limited and its Board of Directors as a body, for our work or for this report.

You consider that the company is exempt from an audit for the year ended 29 February 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
      
We have not carried out an audit or any other review of the accounts, and consequently we have not verified the accurancy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore express any opinion on these accounts.




....................................................
Gemma Merritt CTA
River View Tax & Accountancy Ltd

5 Beresford Gate
South Way
Andover
Hampshire
SP10 5BN
28 November 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 35,130    54,745 
35,130    54,745 
Current assets      
Stocks 5 11,062    578,750 
Debtors 6 564,432    520,387 
Cash at bank and in hand 318,254    997,294 
893,748    2,096,431 
Creditors: amount falling due within one year 7 (293,636)   (1,324,873)
Net current assets 600,112    771,558 
 
Total assets less current liabilities 635,242    826,303 
Creditors: amount falling due after more than one year 8   (128,244)
Provisions for liabilities 9 (6,675)   (10,402)
Net assets 628,567    687,657 
 

Capital and reserves
     
Called up share capital 10 12    12 
Share premium account 11 57,800    57,800 
Profit and loss account 570,755    629,845 
Shareholders' funds 628,567    687,657 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 November 2024 and were signed on its behalf by:


-------------------------------
Mr Nigel Winston Browner
Director
3
General Information
Haygarth Ross Limited is a private company, limited by shares, registered in England and Wales, registration number 07530112, registration address Shepherds Cottage, Little Ann, Andover, Hampshire, SP11 7DW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 33% Straight Line
Motor Vehicles 25% Straight Line
Computer Equipment 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 10 (2023 : 10).
3.

Intangible fixed assets

Cost Website design   Total
  £   £
At 01 March 2023 2,100    2,100 
Additions  
Disposals  
At 29 February 2024 2,100    2,100 
Amortisation
At 01 March 2023 2,100    2,100 
Charge for year  
On disposals  
At 29 February 2024 2,100    2,100 
Net book values
At 29 February 2024  
At 28 February 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 March 2023 9,862    108,500    4,066    122,428 
Additions 1,688        1,688 
Disposals      
At 29 February 2024 11,550    108,500    4,066    124,116 
Depreciation
At 01 March 2023 5,494    59,052    3,137    67,683 
Charge for year 2,131    18,271    901    21,303 
On disposals      
At 29 February 2024 7,625    77,323    4,038    88,986 
Net book values
Closing balance as at 29 February 2024 3,925    31,177    28    35,130 
Opening balance as at 01 March 2023 4,368    49,448    929    54,745 


5.

Stocks

2024
£
  2023
£
Work in Progress 11,062    578,750 
11,062    578,750 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 180,601    24,795 
Other Debtors 383,831    495,592 
564,432    520,387 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 106,328    118,403 
Bank Loans & Overdrafts   50,000 
Taxation and Social Security 76,886    8,669 
Obligations under HP/Financial Leases 3,244    9,022 
Other Creditors 107,178    1,138,779 
293,636    1,324,873 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations under HP/Financial Leases   3,244 
Other Creditors   125,000 
  128,244 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 10,402    9,796 
Charged to Profit & Loss (3,727)   606 
6,675    10,402 

10.

Share Capital

Authorised
4 Class A shares of £1.00 each
4 Class B shares of £1.00 each
4 Class C shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
4 Class A shares of £1.00 each  
4 Class B shares of £1.00 each  
4 Class C shares of £1.00 each  
12    12 

11.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 57,800    57,800 
57,800    57,800 

4