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REGISTERED NUMBER: 04458552 (England and Wales)









HIGH & DRY MANUFACTURING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






HIGH & DRY MANUFACTURING LTD (REGISTERED NUMBER: 04458552)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGH & DRY MANUFACTURING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: J A Boyton-Salts





REGISTERED OFFICE: Batchmere Workshop
First Avenue
Chichester
West Sussex
PO20 7LQ





REGISTERED NUMBER: 04458552 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

HIGH & DRY MANUFACTURING LTD (REGISTERED NUMBER: 04458552)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 49,902 40,211
49,902 40,211

CURRENT ASSETS
Stocks 12,075 11,500
Debtors 6 114,697 114,336
Cash at bank 252 11,024
127,024 136,860
CREDITORS
Amounts falling due within one year 7 131,173 134,576
NET CURRENT (LIABILITIES)/ASSETS (4,149 ) 2,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,753

42,495

CREDITORS
Amounts falling due after more than one
year

8

(44,676

)

(25,000

)

PROVISIONS FOR LIABILITIES 10 (12,475 ) (10,052 )
NET (LIABILITIES)/ASSETS (11,398 ) 7,443

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (11,498 ) 7,343
SHAREHOLDERS' FUNDS (11,398 ) 7,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HIGH & DRY MANUFACTURING LTD (REGISTERED NUMBER: 04458552)

BALANCE SHEET - continued
31 MAY 2024


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 director and authorised for issue on 27 February 2025 and were signed by:





J A Boyton-Salts - Director


HIGH & DRY MANUFACTURING LTD (REGISTERED NUMBER: 04458552)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

High & Dry Manufacturing Ltd 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 the provisions of Section 1A "Small Entities" of 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales of goods for the year, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been fully amortised.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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.


HIGH & DRY MANUFACTURING LTD (REGISTERED NUMBER: 04458552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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 shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 7,500
AMORTISATION
At 1 June 2023
and 31 May 2024 7,500
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

HIGH & DRY MANUFACTURING LTD (REGISTERED NUMBER: 04458552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 June 2023 12,158 1,035 54,945 10,401 78,539
Additions - 2,780 41,535 262 44,577
Disposals - (1,620 ) (27,490 ) - (29,110 )
At 31 May 2024 12,158 2,195 68,990 10,663 94,006
DEPRECIATION
At 1 June 2023 7,672 155 25,656 4,845 38,328
Charge for year 673 428 13,931 1,164 16,196
Eliminated on disposal - (122 ) (10,298 ) - (10,420 )
At 31 May 2024 8,345 461 29,289 6,009 44,104
NET BOOK VALUE
At 31 May 2024 3,813 1,734 39,701 4,654 49,902
At 31 May 2023 4,486 880 29,289 5,556 40,211


Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
Additions 35,990
At 31 May 2024 35,990
DEPRECIATION
Charge for year 8,998
At 31 May 2024 8,998
NET BOOK VALUE
At 31 May 2024 26,992

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 114,697 114,336

HIGH & DRY MANUFACTURING LTD (REGISTERED NUMBER: 04458552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 5,857 -
Trade creditors 32,879 47,163
Taxation and social security 31,057 16,616
Other creditors 51,380 60,797
131,173 134,576

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,000 25,000
Hire purchase contracts 29,676 -
44,676 25,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 25,000 35,000
Hire purchase contracts 35,533 -
60,533 35,000

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 12,475 10,052

Deferred
tax
£   
Balance at 1 June 2023 10,052
Movement in year 2,423
Balance at 31 May 2024 12,475

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

HIGH & DRY MANUFACTURING LTD (REGISTERED NUMBER: 04458552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
J A Boyton-Salts
Balance outstanding at start of year 34,197 4,932
Amounts advanced 57,910 54,215
Amounts repaid (38,950 ) (24,950 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,157 34,197

13. ULTIMATE CONTROLLING PARTY

The controlling party is J A Boyton-Salts.