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Registered number: 00277871










ALAN HADLEY LIMITED










DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ALAN HADLEY LIMITED
 

COMPANY INFORMATION


Directors
P R Fenton 
A J Harper 
P Lock 
D Perrin 
M R P Fenton 
D A Gray (resigned 30 April 2024)
C Rayns (appointed 1 January 2025)




Company secretary
M R P Fenton



Registered number
00277871



Registered office
Unit 1 Kennet Weir Business Park
Arrowhead Road

Theale

Reading

Berkshire

RG7 4AE




Independent auditors
James Cowper Kreston Audit
Chartered Accountants and Statutory Auditors

Reading Bridge House

George Street

Reading

Berkshire

RG1 8LS





 
ALAN HADLEY LIMITED
 

CONTENTS



Page
Directors' Report
 
1 - 2
Independent Auditors' Report
 
3 - 5
Statement of Comprehensive Income
 
6
Balance Sheet
 
7
Notes to the Financial Statements
 
8 - 17


 
ALAN HADLEY LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors

The directors who served during the year were:

P R Fenton 
A J Harper 
P Lock 
D Perrin 
M R P Fenton
D A Gray (resigned 30 April 2024)

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsJames Cowper Kreston Auditwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

 
ALAN HADLEY LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





M R P Fenton
Secretary

Date: 24 March 2025

Page 2

 
ALAN HADLEY LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALAN HADLEY LIMITED
 

Opinion


We have audited the financial statements of Alan Hadley Limited (the 'Company') for the year ended 30 September 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 September 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 3

 
ALAN HADLEY LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALAN HADLEY LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
 
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

 
Page 4

 
ALAN HADLEY LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALAN HADLEY LIMITED (CONTINUED)


The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:
 
Enquiry of management and those charged with governance around actual and potential litigation and claims;
Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.
 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Alexander Peal BSc (Hons) FCA DChA (Senior Statutory Auditor)
  
for and on behalf of
James Cowper Kreston Audit
 
Chartered Accountants and Statutory Auditors
  
Reading Bridge House
George Street
Reading
Berkshire
RG1 8LS

 
Date: 
24 March 2025
Page 5

 
ALAN HADLEY LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Turnover
  
6,176,454
6,236,521

Cost of sales
  
(4,990,074)
(4,888,140)

Gross profit
  
1,186,380
1,348,381

Administrative expenses
  
(1,052,532)
(1,260,394)

Operating profit
 3 
133,848
87,987

Interest payable and similar expenses
 5 
(114,695)
(85,803)

Profit before tax
  
19,153
2,184

Tax on profit
  
-
(22,789)

Profit/(loss) for the financial year
  
19,153
(20,605)

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 8 to 17 form part of these financial statements.

Page 6

 
ALAN HADLEY LIMITED
REGISTERED NUMBER: 00277871

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
1,803,865
1,628,886

Current assets
  

Debtors: amounts falling due within one year
 7 
888,649
887,016

Cash at bank and in hand
 8 
100
100

  
888,749
887,116

Creditors: amounts falling due within one year
 9 
(2,363,722)
(2,426,469)

Net current liabilities
  
 
 
(1,474,973)
 
 
(1,539,353)

Total assets less current liabilities
  
328,892
89,533

Creditors: amounts falling due after more than one year
 10 
(685,676)
(465,471)

Provisions for liabilities
  

Other provisions
 12 
(226,410)
(226,410)

Net liabilities
  
(583,194)
(602,348)


Capital and reserves
  

Called up share capital 
 13 
178,688
178,688

Profit and loss account
  
(761,882)
(781,036)

  
(583,194)
(602,348)


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Perrin
Director

Date: 24 March 2025

The notes on pages 8 to 17 form part of these financial statements.

Page 7

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Alan Hadley Limited is a private company, limited by shares, incorporated in Engalnd and Wales (registration number 00277871). The address of its registered office is Unit 1 Kennet Weir Business Park, Arrowhead Road, Theale, Reading, Berkshire, RG7 4AE.
The principal activity of the company during the year was in the area of waste recycling, landfill and associated activities and road haulage.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Claude Fenton (Holdings) Limited as at 30 September 2024 and these financial statements may be obtained from Claude Fenton (Holdings) Limited.

 
2.3

Going concern

As at 30 September 2024 the company had net liabilities of £583,194 (2023: £602,348). Nonetheless the directors believe that it is appropriate to prepare the financial statements on a going concern basis because of the facilities available to and the support provided by the group.

  
2.4

Turnover

Turnover represents amounts receivable from goods and services provided during the year, exclusive of value added tax and trade discounts, and inclusive of landfill tax. 
Turnover from short term hire is recognised on a straight line basis over the term of the hire agreement. All other income is recognised following delivery of goods or services to the customer.

Page 8

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

  

Defined benefit pension plan

The parent company provides a defined benefit pension scheme, the assets of which are held separately from those of the company in an independently administered fund. For subsidiary companies in the group, contributions to this scheme are charged to the profit and loss account as they become payable in accordance with FRS102 section 28 as though it was a defined contribution scheme. The assets and liabilities of this scheme are recognised in the parent company financial statements.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 9

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either reducing balance or straight line basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over three years or the period of the lease
Plant and machinery
-
14% - 50% on a straight line basis
Motor vehicles
-
12.5% - 50% on a straight line basis
Other fixed assets
-
see below

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Where appropriate, the discounted costs of landfill site restoration are capitalised under other assets and written off over the operational life of each site based on the amount of void space consumed. The carrying values of tangible and intangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 10

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the
Page 11

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

  
2.16

Restoration costs

Full provision is made for the net present value (NPV) of the company's anticipated costs in relation to restoration liabilities at its landfill sites, at the inception of the lease of the site where appropriate. This value is capitalised as a fixed asset.
The restoration provision is calculated by discounting the anticipated future costs at a rate of 3% to arrive at the net present value until such time as the provision is equal to the company's estimates of its current obligations. Any movement in the net present value each year represents the unwinding of the discount provision which is charged to the profit and loss account if applicable. 
In other cases, where appropriate, the restoration provisions include the company's estimates for future costs based on its current obligations at the balance sheet date.

Page 12

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation on tangible fixed assets
619,779
635,119

Operating lease and hire purchase payments
474,076
474,742

Profit on disposal of fixed assets
(188,269)
(7,527)

Pension costs
70,087
52,519


4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Production
39
33



Management
5
5

44
38


5.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
73,932
53,683

Other loan interest payable
5,662
5,492

Finance leases and hire purchase contracts
35,101
26,628

114,695
85,803

Page 13

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
21,975
3,947,002
1,614,544
330,000
5,913,521


Additions
22,421
459,466
352,030
-
833,917


Transfers intra group
-
-
14,500
-
14,500


Disposals
(21,975)
(701,021)
(209,065)
-
(932,061)



At 30 September 2024

22,421
3,705,447
1,772,009
330,000
5,829,877



Depreciation


At 1 October 2023
21,974
3,014,463
918,198
330,000
4,284,635


Charge for the year
654
430,549
188,576
-
619,779


Transfers intra group
-
-
14,499
-
14,499


Disposals
(21,974)
(680,970)
(189,957)
-
(892,901)



At 30 September 2024

654
2,764,042
931,316
330,000
4,026,012



Net book value



At 30 September 2024
21,767
941,405
840,693
-
1,803,865



At 30 September 2023
1
932,539
696,346
-
1,628,886

Other assets represent the net present value of anticipated restoration costs of landfill sites operated by the company.
Plant and machinery with a carrying value of £538,216 (2023: £525,458) and motor vehicles with a carrying value of £593,937 (2023: £651,440) are held under hire purchase agreements. The depreciation charged for the year on leased assets amounted to £150,530 (2023: £388,180).

Page 14

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
726,471
800,834

Amounts owed by group undertakings
6,430
-

Other debtors
-
3,987

Prepayments and accrued income
155,748
82,195

888,649
887,016



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
100
100

Less: bank overdrafts
(1,010,417)
(860,504)

(1,010,317)
(860,404)



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,010,417
860,504

Trade creditors
471,158
766,492

Amounts owed to group undertakings
184,047
152,135

Corporation tax
-
22,789

Other taxation and social security
156,608
180,573

Obligations under finance lease and hire purchase contracts
489,901
343,928

Other creditors
-
27,272

Accruals and deferred income
51,591
72,776

2,363,722
2,426,469


Obligations under hire purchase and finance lease agreements are secured upon the assets concerned. The finance companies have the right of repossession upon default.
The bank overdraft is secured by a fixed and floating charge over the assets of the company, various charges on group properties and various rights of off set.
The amount owed to group undertakings is a loan. The loan has no fixed repayment date and is considered to mature in less than one year. The loan bears interest at a rate of 2% over bank base rate.      

Page 15

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
431,676
211,471

Amounts owed to group undertakings
254,000
254,000

685,676
465,471


Obligations under hire purchase and finance lease agreements are secured upon the assets concerned. The finance companies have the right of repossession upon default.
The amount owed to group undertaking is a loan. The loan has no fixed repayment date and is considered to mature in five years or more. The loan bears interest at a rate of 2% over bank rate, the interest was applied in the year ended 30 September 2024, and was also applied in the year ended 30 September 2023.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
489,901
343,928

Between 2-5 years
431,676
211,471

921,577
555,399


12.


Provisions





Restoration Provision

£





At 1 October 2023
226,410



At 30 September 2024
226,410

The provisions relate to an estimate by the directors, based on void space consumed and other factors, for re-instatement of land after tipping amounting to £226,410 (2023: £226,410), the performance of which has been guaranteed by the parent undertaking. No additional provision has been made in respect of tipping obligations during the year apart from the unwinding discount where required.

Page 16

 
ALAN HADLEY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



178,688 (2023 - 178,688) Ordinary shares of £1.00 each
178,688
178,688



14.


Pension commitments

The entity is part of a group defined benefit pension scheme to which it makes annual contributions. In addition, the company makes contributions to a defined contribution pension scheme. Total contributions for the year total £70,087 (2023: £52,419). The full disclosure has been included in the financial statements of Claude Fenton (Holdings) Limited.


15.Other financial commitments

As at 30 September 2024, there exists contingent liabilities and guarantees in respect of the following:
a) a composite unlimited guarantee and right of set off on all group bank overdrafts which amounted to £1,010,417 (2023 - £860,504).
b) a composite guarantee and right of set off on all group bank loans which amounted to £600,000 (2023 - £2,325,000).
c) a guarantee for value added tax due by all group undertakings under the group election amounting to £262,205 (2023 - £278,230).
d) The directors are of the opinion that adequate provision has been made within these financial statements to meet the company's obligations for the eventual cost of restoration to reinstate land after tipping.
In respect of (a) and (b) above the company's bankers hold a mortgage debenture creating a specific charge over all company assets, a fixed charge over its book debts and floating charge over all other assets.


16.


Controlling party

Alan Hadley Limited is a wholly owned subsidiary of Claude Fenton (Holdings) Limited (registered number 00474108) which is regarded by the directors as the company's immediate controlling party and ultimate parent company. This company is incorporated in England and Wales and is the smallest and largest group into which the results of the company are consolidated.

Page 17