REGISTERED NUMBER: 09769648 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

HADLEY JAMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K L Docwra

J M Docwra

REGISTERED OFFICE:

Unit 6 Modular Business Park

Norton Road

Stevenage

Hertforshire

SG1 2FZ

REGISTERED NUMBER:

09769648 (England and Wales)

ACCOUNTANTS:

Solazzo & Co Ltd

Chartered Accountants

Woodlands,

27 Ferney Road

Cheshunt

Hertfordshire

EN7 6XQ

FIXED ASSETS

Tangible assets

4

792,915

619,141

CURRENT ASSETS

Stocks

-

9,263

Debtors

5

602,996

502,498

Cash at bank and in hand

120,259

239,730

723,255

751,491

CREDITORS

Amounts falling due within one year

6

550,143

354,540

NET CURRENT ASSETS

173,112

396,951

TOTAL ASSETS LESS CURRENT LIABILITIES

966,027

1,016,092

CREDITORS

Amounts falling due after more than one year

7

(47,608

)

(346,700

)

PROVISIONS FOR LIABILITIES

11

(95,177

)

(50,614

)

NET ASSETS

823,242

618,778

CAPITAL AND RESERVES

Called up share capital

200

200

Revaluation reserve

12

135,500

-

Retained earnings

687,542

618,578

823,242

618,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 19 March 2025 and were signed on its behalf by:

J M Docwra - Director

Mrs K L Docwra - Director

1.	STATUTORY INFORMATION

Hadley James 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 as modified by the revaluation of certain assets.

TURNOVER

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

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.

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

25% on reducing balance

Office equipment

-

20% on cost

Freehold property is stated at valuation less accumulated depreciation. Freehold land is not depreciated.

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

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.

FINANCIAL INSTRUMENTS AND CASH AND CASH EQUIVALENTS

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and recorded at the initial transaction cost. A provision for non-recovery of debtors is made where management consider that a risk exists that the company will not be able to recover fully amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1 October 2023

440,745

130,026

121,087

Additions

-

37,517

2,691

Revaluations

159,255

-

-

At 30 September 2024

600,000

167,543

123,778

DEPRECIATION

At 1 October 2023

24,060

66,170

30,976

Charge for year

8,000

29,612

13,462

Revaluation adjustments

(24,060

)

-

-

At 30 September 2024

8,000

95,782

44,438

NET BOOK VALUE

At 30 September 2024

592,000

71,761

79,340

At 30 September 2023

416,685

63,856

90,111

Motor

Office

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 October 2023

118,840

12,555

823,253

Additions

16,708

806

57,722

Revaluations

-

-

159,255

At 30 September 2024

135,548

13,361

1,040,230

DEPRECIATION

At 1 October 2023

72,570

10,336

204,112

Charge for year

15,307

882

67,263

Revaluation adjustments

-

-

(24,060

)

At 30 September 2024

87,877

11,218

247,315

NET BOOK VALUE

At 30 September 2024

47,671

2,143

792,915

At 30 September 2023

46,270

2,219

619,141

On 1 October 2023 the freehold property was revalued to £600,000 which in the opinion of the directors is its open market value.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 October 2023

and 30 September 2024

70,825

33,725

104,550

DEPRECIATION

At 1 October 2023

28,290

14,755

43,045

Charge for year

14,145

4,742

18,887

At 30 September 2024

42,435

19,497

61,932

NET BOOK VALUE

At 30 September 2024

28,390

14,228

42,618

At 30 September 2023

42,535

18,970

61,505

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Trade debtors

195,075

146,561

Other debtors

352,471

355,937

Directors' current accounts

55,450

-

602,996

502,498

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans and overdrafts (see note 8)

278,333

28,483

Hire purchase contracts (see note 9)

19,765

18,464

Trade creditors

80,679

65,720

Social security and other taxes

163,662

151,081

Other creditors

7,704

14,275

Directors' current accounts

-

76,517

550,143

354,540

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans (see note 8)

8,603

287,930

Hire purchase contracts (see note 9)

39,005

58,770

47,608

346,700

8.

LOANS

An analysis of the maturity of loans is given below:

30.9.24

30.9.23

£

£

Amounts falling due within one year or on demand:

Bank loans

8,000

7,000

Mortgage

270,333

21,483

278,333

28,483

Amounts falling due between one and two years:

Bank loans - 1-2 years

8,000

7,000

Mortgage 1-2 years

-

270,333

8,000

277,333

Amounts falling due between two and five years:

Bank loans - 2-5 years

603

10,597

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30.9.24

30.9.23

£

£

Net obligations repayable:

Within one year

19,765

18,464

Between one and five years

39,005

58,770

58,770

77,234

Non-cancellable

operating leases

30.9.24

30.9.23

£

£

Within one year

6,959

7,592

Between one and five years

-

6,959

6,959

14,551

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.24

30.9.23

£

£

Mortgage

270,333

291,816

The company has legal, fixed and floating charges over the assets of the company in favour of Clydesdale Bank plc dated 7 October 2019.

11.	PROVISIONS FOR LIABILITIES

30.9.24

30.9.23

£

£

Deferred tax

95,177

50,614

Deferred

tax

£

Balance at 1 October 2023

50,614

Credit to Income Statement during year

(1,266

)

Revaluation adjustment

45,829

Balance at 30 September 2024

95,177

12.

RESERVES

Revaluation

reserve

£

Movement in year

183,314

Revaluation reserve

(1,985

)

Deferred tax

(45,829

)

At 30 September 2024

135,500

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24

30.9.23

£

£

J M Docwra

Balance outstanding at start of year

-

17,628

Amounts advanced

27,725

33,696

Amounts repaid

-

(51,324

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

27,725

-

Mrs K L Docwra

Balance outstanding at start of year

-

-

Amounts advanced

27,725

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

27,725

-

14.	RELATED PARTY DISCLOSURES