Registration number:
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Hawkfibre Limited
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Hawkfibre Limited
Statement of Financial Position as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
150,117 |
141,388 |
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Shareholders' funds |
150,217 |
141,488 |
For the financial 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.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Mr O A Turner
Director
Company registration number: 02016936
Hawkfibre Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of livestock farming.
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Accounting policies |
Statement of compliance
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' Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The company had net assets at 30 September 2024 of £150,217 including cash at bank of £107,679. The company has continued to trade profitably subsequent to 30 September 2024.
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the director has adopted the going concern basis for the preparation of these financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale livestock and other related activities in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue from the sale of livestock on the date that the livestock is taken to market for sale, or the date of collection for a private sale.
The company recognises revenue from subsidies on the date on which the company is notified of its entitlement to economic benefit and in respect of other related activities, over the period to which they relate.
Hawkfibre Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold buildings |
4% straight line |
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Motor vehicles |
25% straight line |
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Plant and machinery |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks of homebred or home reared livestock are stated at the lower of deemed cost and where it is not possible to ascertain actual cost, net realisable value.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company during the year, was
Hawkfibre Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Tangible assets |
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Land and buildings |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 October 2023 |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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Charge for the year |
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- |
- |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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- |
- |
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At 30 September 2023 |
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- |
- |
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Debtors |
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2024 |
2023 |
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Other debtors |
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- |
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- |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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