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REGISTERED NUMBER: 08020050 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Haines Wiping Products Limited

Haines Wiping Products Limited (Registered number: 08020050)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Haines Wiping Products Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr T J Haines
Mr M H Haines





REGISTERED OFFICE: Dyson Suite
Pera Business Park
Nottingham Road
Melton Mowbray
Leicestershire
LE13 0PB





BUSINESS ADDRESS: Bank Terrace
Barwell
Leicester
Leicestershire
LE9 8GG





REGISTERED NUMBER: 08020050 (England and Wales)





ACCOUNTANTS: Xitax Limited
Pera Business Park
Nottingham Road
Melton Mowbray
Leicestershire
LE13 0PB

Haines Wiping Products Limited (Registered number: 08020050)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 643,725 647,399
Investment property 6 385,000 363,000
1,028,725 1,010,399

CURRENT ASSETS
Stocks 165,933 157,785
Debtors 7 345,184 277,356
Cash at bank 2,087,308 1,879,324
2,598,425 2,314,465
CREDITORS
Amounts falling due within one year 8 627,354 650,837
NET CURRENT ASSETS 1,971,071 1,663,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,999,796

2,674,027

PROVISIONS FOR LIABILITIES 34,697 5,311
NET ASSETS 2,965,099 2,668,716

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 144,560 -
Retained earnings 2,820,537 2,668,714
2,965,099 2,668,716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Haines Wiping Products Limited (Registered number: 08020050)

Balance Sheet - continued
30 April 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 12 December 2024 and were signed on its behalf by:





Mr T J Haines - Director


Haines Wiping Products Limited (Registered number: 08020050)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Haines Wiping Products 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not depreciated
Fixtures and fittings - 12.5% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.


Haines Wiping Products Limited (Registered number: 08020050)

Notes to the Financial Statements - continued
for the Year Ended 30 April 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 184,000
AMORTISATION
At 1 May 2023
and 30 April 2024 184,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 620,849 70,824 17,520 709,193
Disposals - (1,308 ) - (1,308 )
At 30 April 2024 620,849 69,516 17,520 707,885
DEPRECIATION
At 1 May 2023 - 45,004 16,790 61,794
Charge for year - 3,190 183 3,373
Eliminated on disposal - (1,007 ) - (1,007 )
At 30 April 2024 - 47,187 16,973 64,160
NET BOOK VALUE
At 30 April 2024 620,849 22,329 547 643,725
At 30 April 2023 620,849 25,820 730 647,399

Haines Wiping Products Limited (Registered number: 08020050)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 363,000
Revaluations 22,000
At 30 April 2024 385,000
NET BOOK VALUE
At 30 April 2024 385,000
At 30 April 2023 363,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2018 19,648
Valuation in 2019 10,000
Valuation in 2020 1,000
Valuation in 2021 20,000
Valuation in 2022 20,000
Valuation in 2023 23,000
Valuation in 2024 22,000
Cost 269,352
385,000

The fair value of the property at 30 April 2024 has been arrived at on the basis of a valuation carried out at that date by directors of the company, who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the current state of the rental market in the area where the property is situated.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 345,184 277,356

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 246,137 309,018
Tax 122,987 64,932
Social security and other taxes 4,882 2,503
VAT 93,522 72,338
Wages control account 12,873 12,823
Directors' current accounts 130,256 144,679
Accruals and deferred income 16,697 44,544
627,354 650,837

Haines Wiping Products Limited (Registered number: 08020050)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. RESERVES
Revaluation
reserve
£   
Gain/loss on revaluation of investment
property

115,648

Deferred tax on revaluation of
investment property

28,912


At 30 April 2024 144,560