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HADFIELD & BRITAIN LIMITED

Registered Number
01261826
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

HADFIELD & BRITAIN LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Mr A K Fogg

Registered Address

Adam House
Gerrard Street
Stalybridge
SK15 2JY

Registered Number

01261826 (England and Wales)
HADFIELD & BRITAIN LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3210,146136,331
Investments5555,8021,064,652
Investment property4568,564568,564
1,334,5121,769,547
Current assets
Stocks649,85022,500
Debtors7244,227248,601
Cash at bank and on hand2,122,0031,309,815
2,416,0801,580,916
Creditors amounts falling due within one year8(429,094)(358,547)
Net current assets (liabilities)1,986,9861,222,369
Total assets less current liabilities3,321,4982,991,916
Creditors amounts falling due after one year9(51,107)(46,421)
Net assets3,270,3912,945,495
Capital and reserves
Called up share capital2,0001,002
Profit and loss account3,268,3912,944,493
Shareholders' funds3,270,3912,945,495
The financial statements were approved and authorised for issue by the Director on 22 January 2025, and are signed on its behalf by:
Mr A K Fogg
Director
Registered Company No. 01261826
HADFIELD & BRITAIN LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-2
Plant and machinery25-
Fixtures and fittings25-
Vehicles25-
Office Equipment-33.33
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year1312
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 July 2381,9359,007229,08625,45712,267357,752
Additions--158,164-1,469159,633
Disposals--(94,864)--(94,864)
At 30 June 2481,9359,007292,38625,45713,736422,521
Depreciation and impairment
At 01 July 2344,3268,915130,64225,27112,267221,421
Charge for year1,6402357,5804624259,531
On disposals--(68,577)--(68,577)
At 30 June 2445,9668,938119,64525,31712,509212,375
Net book value
At 30 June 2435,96969172,7411401,227210,146
At 30 June 2337,6099298,444186-136,331
4.Investment property

£
Fair value at 01 July 23568,564
At 30 June 24568,564
5.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 July 231,064,6521,064,652
Disposals(508,850)(508,850)
At 30 June 24555,802555,802
Net book value
At 30 June 24555,802555,802
At 30 June 231,064,6521,064,652

Notes

1Other investments other than loans
6.Stocks

2024

2023

££
Raw materials and consumables49,85022,500
Total49,85022,500
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables190,936208,838
Other debtors24,00015,000
Prepayments and accrued income29,29124,763
Total244,227248,601
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables257,335126,401
Bank borrowings and overdrafts2,9421,677
Taxation and social security131,687135,810
Other creditors28,24485,519
Accrued liabilities and deferred income8,8869,140
Total429,094358,547
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts51,10746,421
Total51,10746,421