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
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
HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE)
Statement of financial position
as at 31 December 2024
Tangible assets
25,463
32,644
Inventories
154,755
156,272
Cash at bank and in hand
34,557
25,165
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
Called up share capital
1,002
1,002
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
HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE)
Notes to the Accounts
for the year ended 31 December 2024
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.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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 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.
HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE)
Notes to the Accounts
for the year ended 31 December 2024
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.
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.
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.
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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
At 31 December 2024
4,416
30,500
160
5,131
40,207
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
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
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
HAYWAY TOOL AND HARDWARE COMPANY LIMITED(THE)
Notes to the Accounts
for the year ended 31 December 2024
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,555
5,555
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)
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
10,104
17,303
Other Creditors falling due after one more than one year, is the government bounced back loan.
Allotted, called up and fully paid:
1,002 Ordinary shares of £1 each
1,002
1,002
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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.
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Average number of employees
During the year the average number of employees was 4 (2023: 4).