Caseware UK (AP4) 2023.0.135 2023.0.135 2024-11-302024-11-308falseRepair of motor vehiclesfalse2023-12-018truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI013832 2023-12-01 2024-11-30 NI013832 2022-12-01 2023-11-30 NI013832 2024-11-30 NI013832 2023-11-30 NI013832 c:Director6 2023-12-01 2024-11-30 NI013832 d:Buildings 2023-12-01 2024-11-30 NI013832 d:Buildings 2024-11-30 NI013832 d:Buildings 2023-11-30 NI013832 d:Buildings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 NI013832 d:PlantMachinery 2023-12-01 2024-11-30 NI013832 d:PlantMachinery 2024-11-30 NI013832 d:PlantMachinery 2023-11-30 NI013832 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 NI013832 d:MotorVehicles 2023-12-01 2024-11-30 NI013832 d:MotorVehicles 2024-11-30 NI013832 d:MotorVehicles 2023-11-30 NI013832 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 NI013832 d:FurnitureFittings 2023-12-01 2024-11-30 NI013832 d:FurnitureFittings 2024-11-30 NI013832 d:FurnitureFittings 2023-11-30 NI013832 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 NI013832 d:OfficeEquipment 2023-12-01 2024-11-30 NI013832 d:OfficeEquipment 2024-11-30 NI013832 d:OfficeEquipment 2023-11-30 NI013832 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 NI013832 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 NI013832 d:Goodwill 2024-11-30 NI013832 d:Goodwill 2023-11-30 NI013832 d:CurrentFinancialInstruments 2024-11-30 NI013832 d:CurrentFinancialInstruments 2023-11-30 NI013832 d:Non-currentFinancialInstruments 2024-11-30 NI013832 d:Non-currentFinancialInstruments 2023-11-30 NI013832 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 NI013832 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 NI013832 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 NI013832 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 NI013832 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-11-30 NI013832 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 NI013832 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-11-30 NI013832 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 NI013832 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-11-30 NI013832 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-11-30 NI013832 d:ShareCapital 2024-11-30 NI013832 d:ShareCapital 2023-11-30 NI013832 d:RetainedEarningsAccumulatedLosses 2023-12-01 2024-11-30 NI013832 d:RetainedEarningsAccumulatedLosses 2024-11-30 NI013832 d:RetainedEarningsAccumulatedLosses 2023-11-30 NI013832 c:OrdinaryShareClass1 2023-12-01 2024-11-30 NI013832 c:OrdinaryShareClass1 2024-11-30 NI013832 c:OrdinaryShareClass1 2023-11-30 NI013832 c:OrdinaryShareClass2 2023-12-01 2024-11-30 NI013832 c:OrdinaryShareClass2 2024-11-30 NI013832 c:OrdinaryShareClass2 2023-11-30 NI013832 c:OrdinaryShareClass3 2023-12-01 2024-11-30 NI013832 c:OrdinaryShareClass3 2024-11-30 NI013832 c:OrdinaryShareClass3 2023-11-30 NI013832 c:OrdinaryShareClass4 2023-12-01 2024-11-30 NI013832 c:OrdinaryShareClass4 2024-11-30 NI013832 c:OrdinaryShareClass4 2023-11-30 NI013832 c:OrdinaryShareClass5 2023-12-01 2024-11-30 NI013832 c:OrdinaryShareClass5 2024-11-30 NI013832 c:OrdinaryShareClass5 2023-11-30 NI013832 c:FRS102 2023-12-01 2024-11-30 NI013832 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 NI013832 c:FullAccounts 2023-12-01 2024-11-30 NI013832 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 NI013832 d:HirePurchaseContracts d:WithinOneYear 2024-11-30 NI013832 d:HirePurchaseContracts d:WithinOneYear 2023-11-30 NI013832 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-11-30 NI013832 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-11-30 NI013832 2 2023-12-01 2024-11-30 NI013832 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 NI013832 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 NI013832 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-11-30 NI013832 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-11-30 NI013832 d:LeasedAssetsHeldAsLessee 2024-11-30 NI013832 d:LeasedAssetsHeldAsLessee 2023-11-30 NI013832 e:PoundSterling 2023-12-01 2024-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI013832










ROBERT HAIR AND COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
ROBERT HAIR AND COMPANY LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 16


 
ROBERT HAIR AND COMPANY LIMITED
REGISTERED NUMBER: NI013832

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
118,217
114,038

  
118,217
114,038

Current assets
  

Stocks
 6 
1,350
1,450

Debtors: amounts falling due within one year
 7 
65,544
47,752

Cash at bank and in hand
 8 
18,184
9,051

  
85,078
58,253

Creditors: amounts falling due within one year
 9 
(81,991)
(52,856)

Net current assets
  
 
 
3,087
 
 
5,397

Total assets less current liabilities
  
121,304
119,435

Creditors: amounts falling due after more than one year
 10 
(74,141)
(81,152)

Provisions for liabilities
  

Deferred tax
 13 
(418)
(418)

  
 
 
(418)
 
 
(418)

Net assets
  
46,745
37,865


Capital and reserves
  

Called up share capital 
 14 
600
600

Profit and loss account
 15 
46,145
37,265

  
46,745
37,865


Page 1

 
ROBERT HAIR AND COMPANY LIMITED
REGISTERED NUMBER: NI013832

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with 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 on 17 April 2025.


Mark Hair
Director

The notes on pages 3 to 16 form part of these financial statements.

Page 2

 
ROBERT HAIR AND COMPANY LIMITED
 

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

1.


General information

Robert Hair and Company Limited is a private company limited by shares and is incorporated and registered in Northern Ireland under Company Registration Number NI013832.
The company's registered office is situated at 8 Sanda Road, Newtownabbey, BT37 9UB.
The principal activity of the company continued to be the repairing and painting of motor vehicles.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ROBERT HAIR AND COMPANY LIMITED
 

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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.

Page 4

 
ROBERT HAIR AND COMPANY LIMITED
 

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

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

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 5

 
ROBERT HAIR AND COMPANY LIMITED
 

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

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line
Plant & machinery
-
20%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures & fittings
-
10%
Reducing balance
Office equipment
-
20%
Reducing balance

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.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

Page 6

 
ROBERT HAIR AND COMPANY LIMITED
 

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

2.Accounting policies (continued)

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).


4.


Intangible assets




Goodwill

£



Cost


At 1 December 2023
12,000



At 30 November 2024

12,000



Amortisation


At 1 December 2023
12,000



At 30 November 2024

12,000



Net book value



At 30 November 2024
-



At 30 November 2023
-




5.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 December 2023
80,000
67,200
50,934
7,277
536


Additions
-
5,422
11,400
-
582


Disposals
-
-
(14,009)
-
-
Page 7

 
ROBERT HAIR AND COMPANY LIMITED
 

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

           5.Tangible fixed assets (continued)




At 30 November 2024

80,000
72,622
48,325
7,277
1,118



Depreciation


At 1 December 2023
-
62,079
23,452
6,003
375


Charge for the year on owned assets
-
1,566
7,678
127
90


Disposals
-
-
(10,245)
-
-



At 30 November 2024

-
63,645
20,885
6,130
465



Net book value



At 30 November 2024
80,000
8,977
27,440
1,147
653



At 30 November 2023
80,000
5,121
27,482
1,274
161

Total

£



Cost or valuation


At 1 December 2023
205,947


Additions
17,404


Disposals
(14,009)



At 30 November 2024

209,342



Depreciation


At 1 December 2023
91,909


Charge for the year on owned assets
9,461


Disposals
(10,245)



At 30 November 2024

91,125



Net book value



At 30 November 2024
118,217



At 30 November 2023
114,038

Page 8

 
ROBERT HAIR AND COMPANY LIMITED
 

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

           5.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
17,063
22,750

17,063
22,750

Page 9

 
ROBERT HAIR AND COMPANY LIMITED
 

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

6.


Stocks

2024
2023
£
£

Raw materials and consumables
1,350
1,450

1,350
1,450


Page 10

 
ROBERT HAIR AND COMPANY LIMITED
 

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

7.


Debtors

2024
2023
£
£


Trade debtors
56,937
35,324

Other debtors
3,048
6,189

Prepayments and accrued income
5,559
6,239

65,544
47,752



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
18,184
9,051

Less: bank overdrafts
(25,344)
-

(7,160)
9,051


Page 11

 
ROBERT HAIR AND COMPANY LIMITED
 

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

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
25,344
-

Bank loans
5,389
5,181

Trade creditors
23,553
21,647

Other taxation and social security
17,514
16,734

Obligations under finance lease and hire purchase contracts
4,334
4,334

Other creditors
3,616
3,000

Accruals and deferred income
2,241
1,960

81,991
52,856


2024
2023
£
£

Other taxation and social security

PAYE/NI control
2,843
3,471

VAT control
14,672
13,263

17,515
16,734


The following liabilities were secured:

2024
2023
£
£



Bank loan
5,389
5,181

Obligations under finance lease and hire purchase contracts
4,334
4,334

9,723
9,515

Details of security provided:

The bank loan is secured by way of a legal charge over the building at 8 Sanda Road, Newtownabbey, Co. Antrim, and its associated assets.
The liability in relation to a hire purchase contract is secured on the asset concerned.

Page 12

 
ROBERT HAIR AND COMPANY LIMITED
 

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

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
65,113
67,791

Net obligations under finance leases and hire purchase contracts
9,028
13,361

74,141
81,152


The following liabilities were secured:

2024
2023
£
£



Bank loan
65,113
67,791

Obligations under finance lease and hire purchase contracts
9,028
13,361

74,141
81,152

Details of security provided:

The bank loan is secured by way of a legal charge over the building at 8 Sanda Road, Newtownabbey, Co. Antrim, and its associated assets.
The liability in relation to a hire purchase contract is secured on the asset concerned.

Page 13

 
ROBERT HAIR AND COMPANY LIMITED
 

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

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,389
5,181


5,389
5,181

Amounts falling due 1-2 years

Bank loans
5,389
5,181


5,389
5,181

Amounts falling due 2-5 years

Bank loans
16,166
15,544


16,166
15,544

Amounts falling due after more than 5 years

Bank loans
43,558
47,065

43,558
47,065

70,502
72,971



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
4,334
4,334

Between 1-5 years
9,028
13,361

13,362
17,695

Page 14

 
ROBERT HAIR AND COMPANY LIMITED
 

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

13.


Deferred taxation




2024


£






At beginning of year
(418)



At end of year
(418)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(418)
(418)

(418)
(418)


14.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



120 (2023 - 120) Ordinary "A" shares of £1.00 each
120
120
120 (2023 - 120) Ordinary "B" shares of £1.00 each
120
120
120 (2023 - 120) Ordinary "C" shares of £1.00 each
120
120
120 (2023 - 120) Ordinary "D" shares of £1.00 each
120
120
120 (2023 - 120) Ordinary "E" shares of £1.00 each
120
120

600

600



15.


Reserves

Profit & loss account

The profit and loss account is a fully distributable reserve and includes all current and prior period profits and losses.


16.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,478 (2023 - £3,239). Contributions totalling £266 (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 15

 
ROBERT HAIR AND COMPANY LIMITED
 

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

17.


Controlling party

The ultimate controlling party is Mr Mark Hair by virtue of his shareholdings in the company.


Page 16