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REGISTERED NUMBER: NI606466 (Northern Ireland)















HAYES FUELS (PACKAGING & DISTRIBUTION)
LIMITED

Unaudited Financial Statements for the Year Ended 30 April 2024






HAYES FUELS (PACKAGING & DISTRIBUTION)
LIMITED (REGISTERED NUMBER: NI606466)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HAYES FUELS (PACKAGING & DISTRIBUTION)
LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Alastair Hayes
William Hayes
Colm Kearney





REGISTERED OFFICE: 146 Pomeroy Road
Donaghmore
Dungannon
Co. Tyrone
BT70 2TY





REGISTERED NUMBER: NI606466 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

HAYES FUELS (PACKAGING & DISTRIBUTION)
LIMITED (REGISTERED NUMBER: NI606466)

Statement of Financial Position
30 APRIL 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 2,202,548 1,688,872

CURRENT ASSETS
Inventories 6 361,535 474,424
Receivables: amounts falling due within
one year

7

1,225,027

996,105
Cash at bank 212,668 114,597
1,799,230 1,585,126
PAYABLES
Amounts falling due within one year 8 (834,089 ) (859,287 )
NET CURRENT ASSETS 965,141 725,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,167,689

2,414,711

PAYABLES
Amounts falling due after more than
one year

9

(172,859

)

(96,723

)

PROVISIONS FOR LIABILITIES (523,518 ) (404,388 )
NET ASSETS 2,471,312 1,913,600

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 2,471,112 1,913,400
2,471,312 1,913,600

HAYES FUELS (PACKAGING & DISTRIBUTION)
LIMITED (REGISTERED NUMBER: NI606466)

Statement of Financial Position - continued
30 APRIL 2024


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.

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 15 November 2024 and were signed on its behalf by:





Alastair Hayes - Director


HAYES FUELS (PACKAGING & DISTRIBUTION)
LIMITED (REGISTERED NUMBER: NI606466)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Hayes Fuels (Packaging & Distribution) Limited is a private company limited by shares, incorporated in Northern Ireland.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

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

Property, plant and equipment and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% reducing balance
Motor vehicles - 20% reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

HAYES FUELS (PACKAGING & DISTRIBUTION)
LIMITED (REGISTERED NUMBER: NI606466)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

Leasing and hire purchases
Property, plant and equipment held under leasing arrangements which transfer substantially all the risks and rewards of ownership to the business are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 22 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 May 2023 3,638,297 116,333 3,754,630
Additions 882,353 98,352 980,705
Disposals (163,500 ) (59,838 ) (223,338 )
At 30 April 2024 4,357,150 154,847 4,511,997
DEPRECIATION
At 1 May 2023 2,015,638 50,120 2,065,758
Charge for year 367,189 17,604 384,793
Eliminated on disposal (114,126 ) (26,976 ) (141,102 )
At 30 April 2024 2,268,701 40,748 2,309,449
NET BOOK VALUE
At 30 April 2024 2,088,449 114,099 2,202,548
At 30 April 2023 1,622,659 66,213 1,688,872

6. INVENTORIES
2024 2023
£ £
Inventories 361,535 474,424

HAYES FUELS (PACKAGING & DISTRIBUTION)
LIMITED (REGISTERED NUMBER: NI606466)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade receivables 2,200 24,371
Other receivables 3,350 5,670
Amounts owed by group undertakings 659,002 869,125
Prepayments and accrued income 560,475 96,939
1,225,027 996,105

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 179,235 91,399
Trade payables 253,826 554,935
Taxation and social security 257,622 21,485
Other payables 143,406 191,468
834,089 859,287

The hire purchase balances are secured against the assets to which they relate.

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Hire purchase contracts 172,859 96,723

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.