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Company Registration No. 01638786 (England and Wales)
HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE) Unaudited accounts for the year ended 31 December 2024
HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE) Unaudited accounts Contents
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HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE) Company Information for the year ended 31 December 2024
Director
Roger John Diamond
Company Number
01638786 (England and Wales)
Registered Office
CUNLIFFE DRIVE KETTERING NORTHANTS NN16 8LD UNITED KINGDOM
Accountants
Donna Urquhart - ITStorm Ltd 10 Earlstrees Court Earlstrees Industrial Estate CORBY Northants NN17 4AX
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HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE) Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
25,463 
32,644 
Current assets
Inventories
154,755 
156,272 
Debtors
122,791 
151,155 
Cash at bank and in hand
34,557 
25,165 
312,103 
332,592 
Creditors: amounts falling due within one year
(72,774)
(74,760)
Net current assets
239,329 
257,832 
Total assets less current liabilities
264,792 
290,476 
Creditors: amounts falling due after more than one year
(34,641)
(47,396)
Provisions for liabilities
Deferred tax
(4,838)
(6,202)
Net assets
225,313 
236,878 
Capital and reserves
Called up share capital
1,002 
1,002 
Share premium
60 
60 
Capital redemption reserve
2,000 
2,000 
Capital contribution reserve
(67,240)
(67,240)
Profit and loss account
289,491 
301,056 
Shareholders' funds
225,313 
236,878 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 June 2025 and were signed on its behalf by
Roger John Diamond Director Company Registration No. 01638786
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HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE) Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE) is a private company, limited by shares, registered in England and Wales, registration number 01638786. The registered office is CUNLIFFE DRIVE, KETTERING, NORTHANTS, NN16 8LD, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% straight line
Fixtures & fittings
20% straight line
Computer equipment
20% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
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 accounts. 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE) Notes to the Accounts for the year ended 31 December 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2024
4,416 
30,500 
160 
4,820 
39,896 
Additions
- 
- 
- 
311 
311 
At 31 December 2024
4,416 
30,500 
160 
5,131 
40,207 
Depreciation
At 1 January 2024
1,030 
2,542 
27 
3,653 
7,252 
Charge for the year
883 
6,100 
32 
477 
7,492 
At 31 December 2024
1,913 
8,642 
59 
4,130 
14,744 
Net book value
At 31 December 2024
2,503 
21,858 
101 
1,001 
25,463 
At 31 December 2023
3,386 
27,958 
133 
1,167 
32,644 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Trade debtors
68,474 
68,225 
Accrued income and prepayments
7,888 
7,357 
Other debtors
46,429 
75,573 
122,791 
151,155 
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HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE) Notes to the Accounts for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,555 
5,555 
VAT
7,782 
4,040 
Obligations under finance leases and hire purchase contracts
6,063 
6,489 
Trade creditors
73,080 
89,331 
Taxes and social security
3,998 
(908)
Loans from directors
(24,454)
(30,397)
Accruals
750 
650 
72,774 
74,760 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
24,537 
30,093 
Obligations under finance leases and hire purchase contracts
10,104 
17,303 
34,641 
47,396 
Other Creditors falling due after one more than one year, is the government bounced back loan.
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,002 Ordinary shares of £1 each
1,002 
1,002 
9
Transactions with related parties
At 31 December 2024 the sum of £24454 (2023; £30397) was due by the directors to the company by way of overdrawn loan accounts. The maximum overdrawn in the year was £24454 (2023 £30397). No interest was charged on these overdrawn amounts. During the course of the year: dividends of £31500 (2023: £30625 were paid to the directors.
10
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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