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REGISTERED NUMBER: SC613085 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Haynes Asset Management Ltd

Haynes Asset Management Ltd (Registered number: SC613085)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Haynes Asset Management Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Miss M T Thomson
G C Thomson





SECRETARY:





REGISTERED OFFICE: Gordonhall Farmhouse,
Kingussie, Inverne
PH21 1NR





REGISTERED NUMBER: SC613085 (Scotland)





ACCOUNTANTS: Nationwide Accountants & Tax Advisors Ltd
704
London Road,
North Cheam, Sutton.
Surrey
SM3 9BY

Haynes Asset Management Ltd (Registered number: SC613085)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 34,322 -

CURRENT ASSETS
Stocks 2,475,678 1,662,539
Debtors 5 171,111 138,293
Cash at bank 20,096 398
2,666,885 1,801,230
CREDITORS
Amounts falling due within one year 6 597,951 131,778
NET CURRENT ASSETS 2,068,934 1,669,452
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,103,256

1,669,452

CREDITORS
Amounts falling due after more than
one year

7

2,561,455

1,691,512
NET LIABILITIES (458,199 ) (22,060 )

CAPITAL AND RESERVES
Called up share capital 700 700
Share premium 346,294 346,294
Retained earnings (805,193 ) (369,054 )
(458,199 ) (22,060 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Haynes Asset Management Ltd (Registered number: SC613085)

Balance Sheet - continued
30 November 2023


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 27 November 2024 and were signed on its behalf by:





G C Thomson - Director


Haynes Asset Management Ltd (Registered number: SC613085)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Haynes Asset Management Ltd is a private company, limited by shares , registered in Scotland. 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.

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

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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.

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.

Haynes Asset Management Ltd (Registered number: SC613085)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 34,322
At 30 November 2023 34,322
NET BOOK VALUE
At 30 November 2023 34,322

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 171,111 120,000
Other debtors - 18,293
171,111 138,293

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 450,988 59,822
Taxation and social security 19,840 -
Other creditors 127,123 71,956
597,951 131,778

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 25,985 35,833
Other creditors 2,535,470 1,655,679
2,561,455 1,691,512

Haynes Asset Management Ltd (Registered number: SC613085)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.11.23 30.11.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Relendex Loan (75,926 ) 647,952