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REGISTERED NUMBER: 00133399 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Hawes Farmers' Auction Mart Company,
Limited

The Hawes Farmers' Auction Mart Company,
Limited (Registered number: 00133399)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Hawes Farmers' Auction Mart Company,
Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A T Pratt
J Dixon
J E Thorpe
D L Scarr
T G Willoughby
P T Metcalfe
D R Alderson
J Hodgson
R T Tennant





SECRETARY: Miss R A Bland





REGISTERED OFFICE: Burtersett Road
HAWES
North Yorkshire
DL8 3NP





REGISTERED NUMBER: 00133399 (England and Wales)





ACCOUNTANTS: King Hope
34 Romanby Road
NORTHALLERTON
North Yorkshire
DL7 8NF

The Hawes Farmers' Auction Mart Company,
Limited (Registered number: 00133399)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 275,273 287,215
Investments 5 250 250
275,523 287,465

CURRENT ASSETS
Stocks 5,528 7,224
Debtors 6 1,752,881 1,402,351
Cash at bank and in hand 19,245 23,873
1,777,654 1,433,448
CREDITORS
Amounts falling due within one year 7 (537,315 ) (330,884 )
NET CURRENT ASSETS 1,240,339 1,102,564
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,515,862

1,390,029

PROVISIONS FOR LIABILITIES 9 (31,894 ) (33,682 )

ACCRUALS AND DEFERRED INCOME (8,739 ) (9,228 )
NET ASSETS 1,475,229 1,347,119

CAPITAL AND RESERVES
Called up share capital 8,400 8,400
Share premium 334,890 334,890
Retained earnings 1,131,939 1,003,829
SHAREHOLDERS' FUNDS 1,475,229 1,347,119

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

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

The Hawes Farmers' Auction Mart Company,
Limited (Registered number: 00133399)

Balance Sheet - continued
31 December 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 February 2025 and were signed on its behalf by:





A T Pratt - Director


The Hawes Farmers' Auction Mart Company,
Limited (Registered number: 00133399)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

The Hawes Farmers' Auction Mart Company, 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.

Turnover
Turnover represents sales of services including an estimate in respect of ongoing services not yet invoiced, auctioneers' commission and canteen income, excluding value added tax.

Revenue is recognised on the date the service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2.5% on cost
Plant and machinery etc - 20% on cost and 10% on cost

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

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.

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.

Hire purchase and leasing commitments
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.

The Hawes Farmers' Auction Mart Company,
Limited (Registered number: 00133399)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Investments
Investments which are held as fixed assets are stated at cost less provisions for any permanent dimunition in value.


Government grants
Government grants relates to grants received towards expenditure on fixed assets, treated as deferred income and credited to the profit and loss account over the useful economic life of the asset.

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the Directors have carefully considered these risks, including an assessment of uncertainty of future trading projections for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the Directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business. In addition, the company assets are assessed for recoverability on a regular basis, and the Directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 530,341 202,166 732,507
Additions - 8,624 8,624
Disposals - (5,972 ) (5,972 )
At 31 December 2024 530,341 204,818 735,159
DEPRECIATION
At 1 January 2024 270,125 175,167 445,292
Charge for year 10,033 10,533 20,566
Eliminated on disposal - (5,972 ) (5,972 )
At 31 December 2024 280,158 179,728 459,886
NET BOOK VALUE
At 31 December 2024 250,183 25,090 275,273
At 31 December 2023 260,216 26,999 287,215

Included in cost of land and buildings is freehold land of £ 66,803 (2023 - £ 66,803 ) which is not depreciated.

The Hawes Farmers' Auction Mart Company,
Limited (Registered number: 00133399)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 250
NET BOOK VALUE
At 31 December 2024 250
At 31 December 2023 250

Fixed asset investments include the following:
£   
Unquoted shares (at cost) 250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,722,825 1,367,051
Amounts recoverable on contract 22,848 30,000
Other debtors 7,208 5,300
1,752,881 1,402,351

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 343,279 196,164
Trade creditors 10,686 5,630
Taxation and social security 118,737 66,854
Other creditors 64,613 62,236
537,315 330,884

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 343,279 196,164

The bank overdraft is secured by a combination of a legal charge and a debenture. The security includes a fixed and floating charge over the undertaking and all property and assets, present and future, including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant & machinery.

The Hawes Farmers' Auction Mart Company,
Limited (Registered number: 00133399)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 31,894 33,682

Deferred
tax
£   
Balance at 1 January 2024 33,682
Credit to Income Statement during year (1,788 )
Balance at 31 December 2024 31,894

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £5,963 (2023 - £5,212). Outstanding contributions due to the funds at the year end were £1,936 (2023 - £985) and are included in other creditors.

11. OTHER FINANCIAL COMMITMENTS

At the reporting date, the Company had outstanding commitments for future minimum lease payments under non-cancellable operating lease arrangements in respect of office equipment totalling £8,937 (2023 - £11,566)

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £105 (2023 - £115) were paid to the directors .

13. POST BALANCE SHEET EVENTS

During the period under review the company has provided against a doubtful debt from a major customer of c£45,000. Subsequent to the accounting date a further debt of c£154,000 has arisen.

14. DIVIDENDS

The directors recommend a final dividend of £5 per Ordinary Share, making a total payable of £8,400 which is not provided in the accounts.