Silverfin false false 31/05/2024 01/06/2023 31/05/2024 D L Hawkins 25/01/2012 T J Hawkins 25/01/2012 29 May 2025 The principal activity of the Company during the financial year was livestock dealing. 07923421 2024-05-31 07923421 bus:Director1 2024-05-31 07923421 bus:Director2 2024-05-31 07923421 2023-05-31 07923421 core:CurrentFinancialInstruments 2024-05-31 07923421 core:CurrentFinancialInstruments 2023-05-31 07923421 core:ShareCapital 2024-05-31 07923421 core:ShareCapital 2023-05-31 07923421 core:RetainedEarningsAccumulatedLosses 2024-05-31 07923421 core:RetainedEarningsAccumulatedLosses 2023-05-31 07923421 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2023-05-31 07923421 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2024-05-31 07923421 core:PlantMachinery 2023-05-31 07923421 core:Vehicles 2023-05-31 07923421 core:PlantMachinery 2024-05-31 07923421 core:Vehicles 2024-05-31 07923421 core:CostValuation 2023-05-31 07923421 core:AdditionsToInvestments 2024-05-31 07923421 core:CostValuation 2024-05-31 07923421 5 2024-05-31 07923421 5 2023-05-31 07923421 2023-06-01 2024-05-31 07923421 bus:FilletedAccounts 2023-06-01 2024-05-31 07923421 bus:SmallEntities 2023-06-01 2024-05-31 07923421 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07923421 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07923421 bus:Director1 2023-06-01 2024-05-31 07923421 bus:Director2 2023-06-01 2024-05-31 07923421 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-06-01 2024-05-31 07923421 core:PlantMachinery 2023-06-01 2024-05-31 07923421 core:Vehicles 2023-06-01 2024-05-31 07923421 2022-06-01 2023-05-31 07923421 core:Non-standardIntangibleAssetClass3ComponentIntangibleAssetsOtherThanGoodwill 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: 07923421 (England and Wales)

TIM HAWKINS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

TIM HAWKINS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

TIM HAWKINS LIMITED

BALANCE SHEET

As at 31 May 2024
TIM HAWKINS LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 350,474 554,871
Investments 5 1,436,000 1,269,000
1,786,474 1,823,871
Current assets
Stocks 6, 7 33,975 27,338
Debtors 8 76,850 128,277
Cash at bank and in hand 216,262 172,745
327,087 328,360
Creditors: amounts falling due within one year 9 ( 756,920) ( 909,326)
Net current liabilities (429,833) (580,966)
Total assets less current liabilities 1,356,641 1,242,905
Provision for liabilities ( 67,467) ( 88,644)
Net assets 1,289,174 1,154,261
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,289,074 1,154,161
Total shareholders' funds 1,289,174 1,154,261

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Tim Hawkins Limited (registered number: 07923421) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

T J Hawkins
Director
TIM HAWKINS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
TIM HAWKINS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tim Hawkins Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of livestock, farm produce, the receipt of government grants, commissions and share of partnership profits. Turnover is shown net of VAT and is recognised at the point of dispatch for the sale of livestock, farm produce and in the period to which the government grant relates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Entitlements 8 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Biological assets

Biological assets not held for continuing use within the business are classified as current assets. Such assets are measured at cost less accumulated impairment. Assets within this classification comprise lambs.

Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a financial lease obligation.

Lease payments are apportioned between finance costs in the Profit & Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Stocks comprising deadstock such as feed and fuel are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade and other debtors

Trade debtors and other debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors and other 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 and other debtors are 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.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Government grants

Income from government grants is recognised within turnover when the conditions for receipt have been complied with and there is reasonable assurance that the grant will be received. Recognition will be on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate.

Ordinary 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.

Basic Payment Scheme

Basic Payment Scheme entitlements are valued at historic cost. In the year to 31 May 2024 the value of the Basic Payment Scheme entitlements has been written off because they are no longer tradable, therefore having a negligible value.

Investments

Other financial assets are stated at fair value. The fair value of the investment in Mr & Mrs T J Hawkins farming partnership is the likely return on investment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Entitlements Total
£ £
Cost
At 01 June 2023 33,259 33,259
Disposals ( 33,259) ( 33,259)
At 31 May 2024 0 0
Accumulated amortisation
At 01 June 2023 33,259 33,259
Disposals ( 33,259) ( 33,259)
At 31 May 2024 0 0
Net book value
At 31 May 2024 0 0
At 31 May 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 June 2023 214,289 633,367 847,656
Additions 10,799 143,800 154,599
Disposals ( 15,530) ( 284,039) ( 299,569)
At 31 May 2024 209,558 493,128 702,686
Accumulated depreciation
At 01 June 2023 97,885 194,900 292,785
Charge for the financial year 17,149 80,638 97,787
Disposals ( 4,057) ( 34,303) ( 38,360)
At 31 May 2024 110,977 241,235 352,212
Net book value
At 31 May 2024 98,581 251,893 350,474
At 31 May 2023 116,404 438,467 554,871

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 June 2023 1,269,000 1,269,000
Additions 167,000 167,000
At 31 May 2024 1,436,000 1,436,000
Carrying value at 31 May 2024 1,436,000 1,436,000
Carrying value at 31 May 2023 1,269,000 1,269,000

Other investments consists of Investment in Mr & Mrs T J Hawkins farming partnership. The investment is stated at fair value.

6. Stocks

2024 2023
£ £
Livestock 30,975 24,338
Other stock 3,000 3,000
33,975 27,338

Livestock includes current biological assets which is broken down further in note 7.

7. Current biological assets

Assets held at cost:

Sheep Total
£ £
Cost
At 01 June 2023 24,338 24,338
Increase due to purchases/ transfers in 6,637 6,637
At 31 May 2024 30,975 30,975

8. Debtors

2024 2023
£ £
Trade debtors 70,437 67,302
Other debtors 6,413 60,975
76,850 128,277

9. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10,638 306,361
Taxation and social security 67,803 75
Other creditors 678,479 602,890
756,920 909,326