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REGISTERED NUMBER: 02791306 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

HANNINGFIELD PROCESS SYSTEMS LIMITED

HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HANNINGFIELD PROCESS SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr C Ellis
Mrs J Ellis
Mr J R A Ellis
Mr A C A Ellis





REGISTERED OFFICE: 17 Millhead Way
Purdeys Industrial Estate
Rochford
Essex
SS4 1LB





REGISTERED NUMBER: 02791306 (England and Wales)





ACCOUNTANTS: Cheshams Accountants Ltd
Chartered Certified Accountants
Suite 16,Neals Corner
2 Bath Road
Hounslow
Middlesex
TW3 3HJ

HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 493,131 242,384
Investments 6 1,740 1,740
494,871 244,124

CURRENT ASSETS
Stocks 7 (542,213 ) (211,228 )
Debtors 8 1,267,003 994,213
Cash at bank and in hand 327,028 92,702
1,051,818 875,687
CREDITORS
Amounts falling due within one year 9 605,771 637,884
NET CURRENT ASSETS 446,047 237,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

940,918

481,927

CREDITORS
Amounts falling due after more than one year 10 (430,054 ) (194,440 )

PROVISIONS FOR LIABILITIES (60,347 ) (45,878 )
NET ASSETS 450,517 241,609

CAPITAL AND RESERVES
Called up share capital 11 37,478 37,478
Retained earnings 12 413,039 204,131
SHAREHOLDERS' FUNDS 450,517 241,609

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306)

BALANCE SHEET - continued
31 AUGUST 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 Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





Mr C Ellis - Director


HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306)

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

1. STATUTORY INFORMATION

Hanningfield Process Systems 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" including the provisions of Section 1A "Small Entities" 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 Hanningfield Process Systems Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer , typically on delivery.

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.

Improvements to property -25% reducing balance
Major Plant and machinery -20% reducing balance
General Plant and machinery -25% reducing balance
Fixtures and fittings -25% reducing balance
Motor Vehicles -25% reducing balance
Computer equipment -25% reducing balance

The Accounting Policy of depreciation of Major plant and machinery started in this current financial year ended 31st August 2024

Investments in subsidiaries
Investment in subsidiary undertakings are recognised at cost. No Impairments has been recognised as amounts involved are immaterial.

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obselete and slow moving items.
Work in Progress represent the value of work completed but not yet invoiced at the balance sheet date. Work in Progress is netted off with payments received in advance when directly related , to reflect the net value of work completed but not yet invoiced.

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.


HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Goodwill
Purchased goodwill is amortised on a straight-line basis over its estimated life of ten years.


Hire purchase and leased assets
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to profit and loss account on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 17,528
AMORTISATION
At 1 September 2023
and 31 August 2024 17,528
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2023 13,156 376,905 182,027
Additions - 383,912 31,847
Disposals - (66,146 ) -
At 31 August 2024 13,156 694,671 213,874
DEPRECIATION
At 1 September 2023 13,156 245,852 117,443
Charge for year - 95,525 24,108
Eliminated on disposal - (7,888 ) -
At 31 August 2024 13,156 333,489 141,551
NET BOOK VALUE
At 31 August 2024 - 361,182 72,323
At 31 August 2023 - 131,053 64,584

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 18,225 118,257 708,570
Additions 23,445 12,209 451,413
Disposals (4,657 ) - (70,803 )
At 31 August 2024 37,013 130,466 1,089,180
DEPRECIATION
At 1 September 2023 14,999 74,736 466,186
Charge for year 7,086 13,932 140,651
Eliminated on disposal (2,900 ) - (10,788 )
At 31 August 2024 19,185 88,668 596,049
NET BOOK VALUE
At 31 August 2024 17,828 41,798 493,131
At 31 August 2023 3,226 43,521 242,384

As stated in the accounting policies, the company has classified its plant and machinery into two categories.
Major plant and machinery- large machinery additions are depreciated using the reducing balance method at a rate of 20% per annum. there was no Major plant and machinery brought forward as it only started this financial year.
General plant and machinery - other plant and machinery are depreciated using the reducing balance method at a rate of 25% per annum
Due to the limitation in the fixed asset schedule presentation, all additions, disposals and depreciation charges for plant and machinery are grouped for simplicity. However the classification into major plant and machinery and general plant and machinery is maintained for internal purposes.

HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306)

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

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 1,740
NET BOOK VALUE
At 31 August 2024 1,740
At 31 August 2023 1,740

The Company holds investments in foreign companies which are recorded at cost. The total carrying amount is immaterial, and no impairment has been recognised.The company continues to monitor the financial performance of these investments, but no adjustments are deemed necessary as of the balance sheet date.

On 13th March 2015, the company acquired a 100% holding ( 1 ordinary share of 1$ Australian ) in Hanningfield Process Systems (Asia Pacific) PTY ltd shown in Investment in Subsidiary at £0.50 cost
The company address is 3 Tallowood Drive, Pullenvale, Queensland 4069 Australia.

On 24th April 2015, the company acquired a 100% holding (2500 ordinary shares of 1$ USA) in
Hanningfield Process Systems ( North America ) LLC shown in investment in subsdidiary at £ 1738.52 cost.
The company address is 1918 Morning Fog Drive, Fuquay-Varina, NC 27526 USA.During the year there were commision paid by Hanningfield Process Systems Limited to Hanningfield Process Systems (North America ) LLC amounting to £69549.15 ($87631.93)

7. STOCKS

Stock and Work in Progress includes

20242023

Closing Stock293,813296,941
Closing Work in progress(836,026)(508,170)


------------

------------
(542.213)(211,229)
==============
Closing stock comprises Stock, Machines, Parts and Raw materials of £293,813. Work in progress comprises Materials, Labour and overheads used to date, less deposits received . Work in Progress is £ (836,026)
Payments in advance and work in progress are netted off where directly related , reflecting the net value of work completed but not yet invoiced. A negative work in progress may arise when advance payments exceed the value of work completed to date.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,225,840 899,178
Other debtors 23,561 20,701
VAT 8,400 74,334
Prepayments 9,202 -
1,267,003 994,213

HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306)

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

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 159,054 130,085
Other loans 92,500 50,000
Trade creditors 275,744 374,408
Social security and other taxes 51,839 41,035
Other creditors 10,671 13,330
Credit Card 7,170 8,953
Pension fund 6,293 6,155
Accrued expenses 2,500 13,918
605,771 637,884

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans - 1-2 years - 92,500
Hire purchase contracts 430,054 101,940
430,054 194,440

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
37,478 Ordinary £1.00 37,478 37,478

12. RESERVES
Retained
earnings
£   

At 1 September 2023 204,131
Profit for the year 262,408
Dividends (53,500 )
At 31 August 2024 413,039