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COMPANY REGISTRATION NUMBER: 02328697
Peter Hawkins Limited
Filleted Unaudited Financial Statements
Year ended
30 September 2024
Peter Hawkins Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
25,136
15,188
Current assets
Stocks
160,185
201,374
Debtors
6
892,548
1,044,415
Cash at bank and in hand
247,849
135,237
------------
------------
1,300,582
1,381,026
Creditors: amounts falling due within one year
7
137,822
181,487
------------
------------
Net current assets
1,162,760
1,199,539
------------
------------
Total assets less current liabilities
1,187,896
1,214,727
Creditors: amounts falling due after more than one year
8
16,514
26,612
------------
------------
Net assets
1,171,382
1,188,115
------------
------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
1,171,282
1,188,015
------------
------------
Shareholders funds
1,171,382
1,188,115
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Peter Hawkins Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 10 June 2025 , and are signed on behalf of the board by:
Mr N Addinall
Director
Company registration number: 02328697
Peter Hawkins Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rawdon House, Rawdon Terrace, Ashby de la Zouch, Leicestershire, LE65 2GN.The company's trading address is Castle Lane, Melbourne, Derbyshire, DE73 8JB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover shown in the Statement of Income and Retained Earnings represents amounts invoiced and receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less, tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
straight line over the period of the lease
Motor vehicles
-
25% reducing balance
Office equipment
-
See below
Office equipment consists of furniture and equipment which is depreciated on a straight line basis over four years, and computer equipment which is depreciated on a straight line basis over three years.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured 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 the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Contributions to this and to other defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 8 ).
5. Tangible assets
Leasehold property
Motor vehicles
Office Equipment
Total
£
£
£
£
Cost
At 1 October 2023
51,961
56,287
69,744
177,992
Additions
19,140
19,140
--------
--------
--------
---------
At 30 September 2024
51,961
75,427
69,744
197,132
--------
--------
--------
---------
Depreciation
At 1 October 2023
51,961
42,078
68,765
162,804
Charge for the year
8,338
854
9,192
--------
--------
--------
---------
At 30 September 2024
51,961
50,416
69,619
171,996
--------
--------
--------
---------
Carrying amount
At 30 September 2024
25,011
125
25,136
--------
--------
--------
---------
At 30 September 2023
14,209
979
15,188
--------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
83,208
100,668
Loan to parent company - Peter Hawkins Group Limited
748,736
747,728
Corporation tax repayable
6,844
Other debtors
53,760
196,019
---------
------------
892,548
1,044,415
---------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,098
9,849
Trade creditors
32,314
62,969
Accruals and deferred income
65,076
75,873
Corporation tax
7,059
Social security and other taxes
29,702
25,240
Other creditors
632
497
---------
---------
137,822
181,487
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,514
26,612
--------
--------
This relates to a "Bounce Back Loan" repayable by equal instalments over 5 years, commencing May 2022, including interest.
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
36,750
36,750
Later than 1 year and not later than 5 years
55,125
91,875
--------
---------
91,875
128,625
--------
---------
Effective 1 September 1997, the company entered into a lease for a Business Unit in Melbourne with an original annual rent of £26,500. The lease was renewed in 2022 for a further four years at an annual rental of £36,750.
11. Contingencies
There were no known contingent liabilities as at the end of the reporting period.
12. Related party transactions
Peter Hawkins Group Limited holds 60% of the share capital of the company snd the remaining 40% is held by Overseas Pensions and Benefit Limited, as trustee of the Peter Hawkins Limited Employee Benefit Trust. The company's ultimate controlling party is considered to be Mr A Deft, by virtue of his majority shareholding in Peter Hawkins Group Limited. The premises are rented from Peter Hawkins Limited Retirement and Death Benefit Scheme. The Trustees of this scheme during the year include Mr P H Hawkins, director of this company, until 4 May 2018. During the year £36,750 plus VAT was payable to the Retirement and Death Benefits Scheme in respect of rent.