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REGISTERED NUMBER: 10920398 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 July 2024

for

Hawgrip Plants Ltd

Hawgrip Plants Ltd (Registered number: 10920398)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Hawgrip Plants Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: R B Palmer
C F J Jackson
H Lee





REGISTERED OFFICE: 77 St Johns
Enderby
Leicestershire
LE19 2BS





REGISTERED NUMBER: 10920398 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Hawgrip Plants Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hawgrip Plants Ltd for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hawgrip Plants Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hawgrip Plants Ltd and state those matters that we have agreed to state to the Board of Directors of Hawgrip Plants Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hawgrip Plants Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hawgrip Plants Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hawgrip Plants Ltd. You consider that Hawgrip Plants Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hawgrip Plants Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


28 April 2025

Hawgrip Plants Ltd (Registered number: 10920398)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 83,333 108,333
Tangible assets 5 1,346,913 1,433,788
Investment property 6 320,000 320,000
1,750,246 1,862,121

CURRENT ASSETS
Stocks 367,889 363,489
Debtors 7 8,565 37,507
Cash at bank and in hand 108,116 152,114
484,570 553,110
CREDITORS
Amounts falling due within one year 8 332,998 1,135,711
NET CURRENT ASSETS/(LIABILITIES) 151,572 (582,601 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,901,818

1,279,520

CREDITORS
Amounts falling due after more than
one year

9

(1,096,434

)

(628,430

)

PROVISIONS FOR LIABILITIES (125,201 ) (143,735 )
NET ASSETS 680,183 507,355

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 680,083 507,255
SHAREHOLDERS' FUNDS 680,183 507,355

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

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

Hawgrip Plants Ltd (Registered number: 10920398)

Balance Sheet - continued
31 July 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 28 April 2025 and were signed on its behalf by:





H Lee - Director


Hawgrip Plants Ltd (Registered number: 10920398)

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


1. STATUTORY INFORMATION

Hawgrip Plants Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% straight line basis

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

Hawgrip Plants Ltd (Registered number: 10920398)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

Foreign currencies
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 transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 250,000
AMORTISATION
At 1 August 2023 141,667
Amortisation for year 25,000
At 31 July 2024 166,667
NET BOOK VALUE
At 31 July 2024 83,333
At 31 July 2023 108,333

Hawgrip Plants Ltd (Registered number: 10920398)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2023 913,421 62,148 593,406
Additions - - 8,482
At 31 July 2024 913,421 62,148 601,888
DEPRECIATION
At 1 August 2023 36,407 12,119 121,353
Charge for year 8,800 6,216 59,022
At 31 July 2024 45,207 18,335 180,375
NET BOOK VALUE
At 31 July 2024 868,214 43,813 421,513
At 31 July 2023 877,014 50,029 472,053

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 65,988 11,180 1,646,143
Additions - 1,500 9,982
At 31 July 2024 65,988 12,680 1,656,125
DEPRECIATION
At 1 August 2023 37,118 5,358 212,355
Charge for year 16,497 6,322 96,857
At 31 July 2024 53,615 11,680 309,212
NET BOOK VALUE
At 31 July 2024 12,373 1,000 1,346,913
At 31 July 2023 28,870 5,822 1,433,788

Hawgrip Plants Ltd (Registered number: 10920398)

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


6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 August 2023
and 31 July 2024 320,000
NET BOOK VALUE
At 31 July 2024 320,000
At 31 July 2023 320,000

Cost or valuation at 31 July 2024 is represented by:
£   
Valuation in 2019 (180,102 )
Valuation in 2023 (10,000 )
Cost 510,102
320,000

If Investment Property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 510,102 510,102

Investment property was valued on an open market basis on 11 April 2023 by Auriga Estates Ltd .

The directors are of the opinion the market value had not materially changed at the year end.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 48 4,421
Amounts owed by associates - 16,395
Prepayments and accrued income 8,517 16,691
8,565 37,507

Hawgrip Plants Ltd (Registered number: 10920398)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 51,498 53,689
Trade creditors 57,410 39,431
Amounts owed to group undertakings - 906,958
Amounts owed to associates 37,232 -
Corporation tax 86,714 63,300
Social security and other taxes 7,056 -
VAT 16,895 21,309
Other creditors 5,241 3,904
Accruals and deferred income 70,952 47,120
332,998 1,135,711

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans more than 5 years 1,089,434 620,430
Accruals and deferred income 7,000 8,000
1,096,434 628,430

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 1,089,434 620,430

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 1,140,932 674,119

There is a fixed and floating charge covering all the property and undertakings of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

12. OTHER FINANCIAL COMMITMENTS

At the end of the year the company was committed to expenditure under non-cancellable operating leases totalling £70,000 (2023: £6,250).

Hawgrip Plants Ltd (Registered number: 10920398)

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


13. RELATED PARTY DISCLOSURES

At the year end, included in creditors is an amount of £37,232 (2023: £906,958) owed to its associated companies. Included in debtors is nil (2023: £16,395) owed by its associated companies. The loans are interest free and repayable on demand.

14. ULTIMATE CONTROLLING PARTY.

The controlling party is the estate of B Palmer (deceased).