Registration number: 3079881

Hafod Grange Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Hafod Grange Limited

Company Information

Director

A Thomas

Registered office

3rd Floor Lawford House Albert Place London N3 1QA

Accountants

Sterlings Ltd Chartered AccountantsLawford House Albert Place London N3 1QA

Hafod Grange Limited

(Registration number: 3079881)
Balance Sheet as at 31 August 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	150,276	156,689
Current assets
Stocks	6	18,021	20,461
Debtors	7	49,870	58,412
Cash at bank and in hand		46,199	53,009
		114,090	131,882
Creditors: Amounts falling due within one year	8	(31,816)	(27,550)
Net current assets		82,274	104,332
Total assets less current liabilities		232,550	261,021
Provisions for liabilities		(5,058)	(6,277)
Net assets		227,492	254,744
Capital and reserves
Called up share capital	9	1,000	1,000
Revaluation reserve		44,076	44,076
Profit and loss account		182,416	209,668
Shareholders' funds		227,492	254,744

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Hafod Grange Limited

(Registration number: 3079881)
Balance Sheet as at 31 August 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 4 April 2025
 

......................................... A Thomas Director

Hafod Grange Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3rd Floor
Lawford House
Albert Place
London
N3 1QA

These financial statements were authorised for issue by the director on 4 April 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£), which is also the company's functional currency. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other taxes.

The company's turnover represents the sale of goods. The company recognises revenue as soon as the customer's order has been despatched and a sales invoice raised and sent to the customer. Turnover is stated net of value added tax.

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.

Hafod Grange Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Depreciation

Freehold land and buildings
Land and buildings are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.

Any revaluation increase in the carrying amount of land and buildings is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended.

Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. Each year the difference between depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset's original cost is transferred from revaluation reserve to retained earnings.

Other fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated residual life:

Motor vehicles	25% on reducing balance
Plant & machinery	25% on reducing balance

At the end of each financial year, the directors assess the carrying values of the assets having regard to their condition, obsolescence and whether they are still in use, and where necessary the asset values are impaired.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Hafod Grange Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss account in the period to which they relate.

Financial instruments

Classification
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors loans.

Directors loans (being repayable on demand), are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
 

Hafod Grange Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 8).

4

Taxation

Tax charged/(credited) in the profit and loss account

	2024 £	2023 £
Deferred taxation
Arising from origination and reversal of timing differences	(1,219)	686

Deferred tax

Hafod Grange Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5	Tangible assets

	Land and buildings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2023	131,038	97,579	14,896	243,513
At 31 August 2024	131,038	97,579	14,896	243,513
Depreciation
At 1 September 2023	-	76,419	10,405	86,824
Charge for the year	-	5,290	1,123	6,413
At 31 August 2024	-	81,709	11,528	93,237
Carrying amount
At 31 August 2024	131,038	15,870	3,368	150,276
At 31 August 2023	131,038	21,160	4,491	156,689

Included within cost or valuation of land and buildings is freehold land of £20,000 (2023 - £20,000) which is not depreciated.

Land and buildings
Cost or valuation at 31 August 2024 is represented by:

1. Valuation in 2001 - £ 24,076
2. Valuation in 2002 - £ 20,000
2. Cost - £ 86,962

The total valuation at 31 August 2024 is £131,038 (2023 - £131,038).

6

Stocks

	2024 £	2023 £
Finished goods and goods for resale	18,021	20,461

Hafod Grange Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Debtors

Current	2024 £	2023 £
Trade debtors	44,870	58,412
Prepayments and accrued income	5,000	-
	49,870	58,412

8

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	13,286	9,829
Taxation and social security	2,992	2,701
Accruals and deferred income	3,450	3,325
Other creditors	12,088	11,695
	31,816	27,550

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares capital class A of £1 each	400	400	400	400
Ordinary shares capital class B of £1 each	600	600	600	600
	1,000	1,000	1,000	1,000

10	Related party disclosures

At the year end, the balance of a loan provided to the company by a related party was £7,233 (2023 - £7,233).

The loan is unsecured, interest free and repayable on demand.