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REGISTERED NUMBER: 05794842 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

HULST LIMITED

HULST LIMITED (REGISTERED NUMBER: 05794842)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


HULST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R J Smart
S Youngs
R Patrick





REGISTERED OFFICE: Robertstown House
Aberdare Business Park,
Aberdare
CF44 8ER





REGISTERED NUMBER: 05794842 (England and Wales)





AUDITORS: Baker Knoyle Audit Limited
Chartered Certified Accountants
Orbit Business Centre
Rhydycar Business Park
Merthyr Tydfil
CF48 1DL

HULST LIMITED (REGISTERED NUMBER: 05794842)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
The results for the financial year are set out in the profit and loss account on page 8 and the financial position of the company at 30th April 2024 is shown on page 10.

The principal activity of the company is that of asset rental.

During the year the share capital of Hulst Limited was acquired by the Dunham Massey Investment Group. Under new ownership Hulst ceased to perform a management and consultancy function to its subsidiary companies, changing the revenue and cost structures compared to 2023.

PRINCIPAL RISKS AND UNCERTAINTIES
The main risk and uncertainty of the company is that the asset rental services provided to its customers will no longer be required. This is being managed by ensuring that the assets rented are being well maintained.

FINANCIAL KEY PERFORMANCE INDICATORS
2024 2023

Turnover £98,847 £670,243

Pre Tax Profit / Turnover 31.85% 65.41%

Given the known impacts upon margin during the year the directors are pleased with the results at the year-end as all key performance indicators are in line with their expectations.

DEVELOPMENTS AND PERFORMANCE
The business continues to invest heavily in design new model development to provide industry leading products incorporating function and motion.

The directors are proud that 2025 will mark the 20th anniversary of the Ashwood business. The company's order book continues to be strong and the directors are optimistic that the business will continue to trade profitably for the foreseeable future.

ON BEHALF OF THE BOARD:





R Patrick - Director


9 January 2025

HULST LIMITED (REGISTERED NUMBER: 05794842)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30th April 2024 was £1,220,000.

Ordinary A Shares - Interim dividends of £0.182 per share (31/05/2023) and £2.272 per share (15/12/2023) and £11.364 per share (30/04/2024) were issued during the period totalling £1,216,000.

Ordinary B Shares - Interim dividends of £0.182 per share (31/05/2023) were issued during the period totalling £4,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

R J Smart
S Youngs

Other changes in directors holding office are as follows:

Mrs A L Youngs - resigned 14 June 2023
Mrs M J Smart - resigned 14 June 2023
A R Howitt - appointed 14 June 2023
R Patrick - appointed 14 June 2023

A R Howitt ceased to be a director after 30 April 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

HULST LIMITED (REGISTERED NUMBER: 05794842)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


AUDITORS
The auditors, Baker Knoyle Audit Limited, have expressed their willingness to be re-appointed at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R Patrick - Director


9 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HULST LIMITED

Opinion
We have audited the financial statements of Hulst Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HULST LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Officers and other management (as required by auditing standards).
- We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting (including related trade union legislation) and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.
- With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Officers.
- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
- We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HULST LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Phillips FCCA (Senior Statutory Auditor)
for and on behalf of Baker Knoyle Audit Limited
Chartered Certified Accountants
Orbit Business Centre
Rhydycar Business Park
Merthyr Tydfil
CF48 1DL

9 January 2025

HULST LIMITED (REGISTERED NUMBER: 05794842)

INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £    £    £   

TURNOVER 98,847 670,243

Administrative expenses 67,368 231,883
OPERATING PROFIT 4 31,479 438,360

Income from shares in group undertakings 1,200,000 180,000
Interest receivable and similar income 14 63
1,200,014 180,063
PROFIT BEFORE TAXATION 1,231,493 618,423

Tax on profit 6 18,303 86,800
PROFIT FOR THE FINANCIAL YEAR 1,213,190 531,623

HULST LIMITED (REGISTERED NUMBER: 05794842)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,213,190 531,623


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,213,190

531,623

HULST LIMITED (REGISTERED NUMBER: 05794842)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 143,532 204,216
Investments 9 110,000 110,000
253,532 314,216

CURRENT ASSETS
Debtors 10 6,216,500 23,611
Cash at bank 898 67,030
6,217,398 90,641
CREDITORS
Amounts falling due within one year 11 6,187,723 110,908
NET CURRENT ASSETS/(LIABILITIES) 29,675 (20,267 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,207

293,949

PROVISIONS FOR LIABILITIES 12 35,612 39,544
NET ASSETS 247,595 254,405

CAPITAL AND RESERVES
Called up share capital 13 110,000 110,000
Retained earnings 14 137,595 144,405
SHAREHOLDERS' FUNDS 247,595 254,405

The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:





R Patrick - Director


HULST LIMITED (REGISTERED NUMBER: 05794842)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 110,000 136,665 246,665

Changes in equity
Dividends - (523,883 ) (523,883 )
Total comprehensive income - 531,623 531,623
Balance at 30 April 2023 110,000 144,405 254,405

Changes in equity
Dividends - (1,220,000 ) (1,220,000 )
Total comprehensive income - 1,213,190 1,213,190
Balance at 30 April 2024 110,000 137,595 247,595

HULST LIMITED (REGISTERED NUMBER: 05794842)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 82,677 499,399
Tax paid (99,004 ) (86,922 )
Net cash from operating activities (16,327 ) 412,477

Cash flows from investing activities
Sale of tangible fixed assets 3,000 -
Interest received 14 63
Dividends received 1,200,000 180,000
Net cash from investing activities 1,203,014 180,063

Cash flows from financing activities
Amounts owed by group undertakings (24,781 ) (42,949 )
Amount introduced by directors - 170
Amount withdrawn by directors (8,038 ) 6,732
Equity dividends paid (1,220,000 ) (523,883 )
Net cash from financing activities (1,252,819 ) (559,930 )

(Decrease)/increase in cash and cash equivalents (66,132 ) 32,610
Cash and cash equivalents at beginning of
year

2

67,030

34,420

Cash and cash equivalents at end of year 2 898 67,030

HULST LIMITED (REGISTERED NUMBER: 05794842)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,231,493 618,423
Depreciation charges 58,847 69,768
Profit on disposal of fixed assets (1,163 ) -
Finance income (1,200,014 ) (180,063 )
89,163 508,128
(Increase)/decrease in trade and other debtors (4,135 ) 32,708
Decrease in trade and other creditors (2,351 ) (41,437 )
Cash generated from operations 82,677 499,399

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 898 67,030
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 67,030 34,420


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.5.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank 67,030 (66,132 ) 898
67,030 (66,132 ) 898
Total 67,030 (66,132 ) 898

HULST LIMITED (REGISTERED NUMBER: 05794842)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Hulst 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Hulst Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Dunham Massey Investment Group No3 Ltd, 85 Great Portland Street,First Floor,London, W1W 7LT.

Turnover
Turnover represents net invoiced charges for management services and asset rentals, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost, 20% on cost and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,095 24,281
Social security costs - 818
Other pension costs - 130,000
2,095 155,099

The average number of employees during the year was as follows:
2024 2023

Directors 4 4

2024 2023
£    £   
Directors' remuneration 2,095 24,281
Directors' pension contributions to money purchase schemes - 130,000

HULST LIMITED (REGISTERED NUMBER: 05794842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes - 4

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 58,594 69,768
Profit on disposal of fixed assets (1,163 ) -

5. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

1,915

2,248

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 22,235 99,006

Deferred tax (3,932 ) (12,206 )
Tax on profit 18,303 86,800

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,231,493 618,423
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19.493%)

307,873

120,549

Effects of:
Income not taxable for tax purposes (300,000 ) (35,083 )
Depreciation in excess of capital allowances 14,362 13,540
Deferred tax (3,932 ) (12,206 )

Total tax charge 18,303 86,800

HULST LIMITED (REGISTERED NUMBER: 05794842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. DIVIDENDS
2024 2023
£    £   
Ordinary A shares of £1 each
Interim 1,216,000 419,107
Ordinary B shares of £1 each
Interim 4,000 104,776
1,220,000 523,883

8. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 May 2023 604,989
Disposals (3,800 )
At 30 April 2024 601,189
DEPRECIATION
At 1 May 2023 400,773
Charge for year 58,594
Eliminated on disposal (1,710 )
At 30 April 2024 457,657
NET BOOK VALUE
At 30 April 2024 143,532
At 30 April 2023 204,216

9. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 110,000
NET BOOK VALUE
At 30 April 2024 110,000
At 30 April 2023 110,000

HULST LIMITED (REGISTERED NUMBER: 05794842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Ashwood Designs Limited
Registered office: Robertstown House, Aberdare Business Park, Robertstown, Aberdare, CF44 8ER
Nature of business: Manufacture of soft furnishings
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 5,070,907 4,865,769
Profit for the year 1,405,138 1,861,269

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 6,211,766 23,611
Other debtors 76 -
Directors' current accounts 599 -
VAT 4,059 -
6,216,500 23,611

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 6,163,374 -
Tax 22,235 99,004
VAT - 2,343
Directors' current accounts 314 7,753
Accrued expenses 1,800 1,808
6,187,723 110,908

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 35,612 39,544

Deferred
tax
£   
Balance at 1 May 2023 39,544
Accelerated capital allowances (3,932 )
Balance at 30 April 2024 35,612

HULST LIMITED (REGISTERED NUMBER: 05794842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
88,000 Ordinary A £1 88,000 88,000
22,000 Ordinary B £1 22,000 22,000
110,000 110,000

14. RESERVES
Retained
earnings
£   

At 1 May 2023 144,405
Profit for the year 1,213,190
Dividends (1,220,000 )
At 30 April 2024 137,595

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
R J Smart and Mrs M J Smart
Balance outstanding at start of year (3,389 ) 169
Amounts advanced 11,988 96,941
Amounts repaid (8,000 ) (100,499 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 599 (3,389 )

S Youngs and Mrs A L Youngs
Balance outstanding at start of year (4,364 ) (1,020 )
Amounts advanced 12,050 155,774
Amounts repaid (8,000 ) (159,118 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (314 ) (4,364 )

16. RELATED PARTY DISCLOSURES

Related party disclosures in respect of transactions entered into between group members have not been disclosed in these financial statements.

17. ULTIMATE CONTROLLING PARTY

Hulst Ltd was controlled by its directors who owned 100% of its share capital until 14 June 2023 at which time the share capital was purchased by Dunham Massey Investment Group No3 Ltd who now own 100% of the share capital.