Registered number
05817294
Haybrooke Associates Limited
Filleted Accounts
31 May 2024
Haybrooke Associates Limited
Registered number: 05817294
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,190 2,411
Current assets
Debtors 4 347,882 342,353
Cash at bank and in hand 262,319 150,105
610,201 492,458
Creditors: amounts falling due within one year 5 (301,846) (267,494)
Net current assets 308,355 224,964
Total assets less current liabilities 312,545 227,375
Creditors: amounts falling due after more than one year 6 (60,000) (90,000)
Net assets 252,545 137,375
Capital and reserves
Called up share capital 1,100 1,100
Profit and loss account 251,445 136,275
Shareholders' funds 252,545 137,375
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr John Roche
Director
Approved by the board on 12 February 2025
Haybrooke Associates Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets,calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 44,923
Additions 2,645
At 31 May 2024 47,568
Depreciation
At 1 June 2023 42,512
Charge for the year 866
At 31 May 2024 43,378
Net book value
At 31 May 2024 4,190
At 31 May 2023 2,411
4 Debtors 2024 2023
£ £
Trade debtors 298,430 292,852
Other debtors 49,452 49,501
347,882 342,353
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 231 -
Trade creditors 235,088 216,181
Other taxes and social security costs 66,527 51,313
301,846 267,494
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 60,000 90,000
7 Other information
Haybrooke Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Harborough Innovation Centre
Airfield Business Park
Leicester Road
Leicester Road
Market Harborough
LE16 7WB
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