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Registration number: 05846844

Andrewshayes Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Andrewshayes Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Andrewshayes Limited

(Registration number: 05846844)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,024,096

1,125,768

Current assets

 

Stocks

6

3,000

5,375

Debtors

7

67,661

7,657

Cash at bank and in hand

 

1,146,598

918,569

 

1,217,259

931,601

Creditors: Amounts falling due within one year

8

(437,243)

(376,187)

Net current assets

 

780,016

555,414

Total assets less current liabilities

 

1,804,112

1,681,182

Provisions for liabilities

(175,826)

(198,852)

Net assets

 

1,628,286

1,482,330

Capital and reserves

 

Called up share capital

300

300

Share premium reserve

59,800

59,800

Retained earnings

1,568,186

1,422,230

Shareholders' funds

 

1,628,286

1,482,330

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Andrewshayes Limited

(Registration number: 05846844)
Balance Sheet as at 30 November 2024

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 April 2025 and signed on its behalf by:
 

Mr H K Lawrence
Director

Mrs C Mackenney
Director

 
     
 

Andrewshayes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
Andrewshayes Caravan Park
Dalwood
Axminster
Devon
EX13 7DY

These financial statements were authorised for issue by the Board on 7 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The directors have reviewed the supply chains, key customers and the capital resources available and consider that the company has adequate resources in place to continue trading for the next twelve months. The accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised using the accrual model. Where the costs have already been incurred then the grant is credited to the profit and loss account.

 

Andrewshayes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Nil

Buildings

2% to 6.67% straight line

Caravans

10% straight line

Motor vehicles

20% reducing balance

Plant and machinery

15% reducing balance

Office equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

 

Andrewshayes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call 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 of change in value.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Andrewshayes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 6 (2023 - 6).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

250,000

250,000

At 30 November 2024

250,000

250,000

Amortisation

At 1 December 2023

250,000

250,000

At 30 November 2024

250,000

250,000

Carrying amount

At 30 November 2024

-

-

 

Andrewshayes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Freehold land and buildings
£

Plant and machinery
£

Caravans
£

Motor vehicles
 £

Office equipment
 £

Total
£

Cost or valuation

At 1 December 2023

843,197

286,082

925,635

18,399

4,086

2,077,399

Additions

-

-

130,139

1,500

-

131,639

Disposals

-

(23,829)

(127,014)

-

-

(150,843)

At 30 November 2024

843,197

262,253

928,760

19,899

4,086

2,058,195

Depreciation

At 1 December 2023

432,221

147,192

358,652

9,481

4,085

951,631

Charge for the year

22,517

20,334

78,595

2,084

-

123,530

Eliminated on disposal

-

(20,492)

(20,570)

-

-

(41,062)

At 30 November 2024

454,738

147,034

416,677

11,565

4,085

1,034,099

Carrying amount

At 30 November 2024

388,459

115,219

512,083

8,334

1

1,024,096

At 30 November 2023

410,976

138,890

566,983

8,918

1

1,125,768

Included within the net book value of land and buildings above is £388,459 (2023 - £410,976) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

3,000

5,375

7

Debtors

2024
£

2023
£

Trade debtors

59,200

-

Prepayments

8,461

7,657

67,661

7,657

 

Andrewshayes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

8

Creditors

Due within one year

2024
£

2023
£

Trade creditors

150,401

89,314

Social security and other taxes

17,449

7,065

Other creditors

143,488

205,536

Accruals

16,700

7,450

Corporation tax liability

102,798

60,775

Deferred income

6,407

6,047

437,243

376,187

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £18,270 (2023 - £28,710).