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Registration number: 11446069

Haddow Enterprises Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Haddow Enterprises Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Haddow Enterprises Limited

(Registration number: 11446069)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

14,113

 

17,820

Investment property

5

 

881,697

 

881,697

Investments

6

 

1,765,774

 

1,765,774

   

2,661,584

 

2,665,291

Current assets

   

 

Debtors

7

602,357

 

542,328

 

Cash at bank and in hand

 

23,308

 

93,363

 

 

625,665

 

635,691

 

Creditors: Amounts falling due within one year

8

(295,843)

 

(271,276)

 

Net current assets

   

329,822

 

364,415

Total assets less current liabilities

   

2,991,406

 

3,029,706

Provisions for liabilities

 

(12,000)

 

(13,000)

Net assets

   

2,979,406

 

3,016,706

Capital and reserves

   

 

Called up share capital

10

1,765,774

 

1,765,774

 

Other reserves

951,994

 

951,994

 

Retained earnings

261,638

 

298,938

 

Shareholders' funds

   

2,979,406

 

3,016,706

 

Haddow Enterprises Limited

(Registration number: 11446069)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 

.........................................
T H J Haddow
Director

 

Haddow Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Listers Mill
Heaton Road
Bradford
BD9 4SH

These financial statements were authorised for issue by the Board on 26 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

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' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned.

Group accounts not prepared

Haddow Enterprises Limited is exempt from preparing group financial statements as the group is small.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of the commercial leasing of its premises. Turnover is shown net of value added tax and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Haddow Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

15% - 25% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Valuations are based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Haddow Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 3).

 

Haddow Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

83,413

14,640

98,053

Additions

5,243

-

5,243

At 30 June 2024

88,656

14,640

103,296

Depreciation

At 1 July 2023

77,183

3,050

80,233

Charge for the year

5,290

3,660

8,950

At 30 June 2024

82,473

6,710

89,183

Carrying amount

At 30 June 2024

6,183

7,930

14,113

At 30 June 2023

6,230

11,590

17,820

5

Investment properties

2024
£

At 1 July 2023

881,697

At 30 June 2024

881,697

6

Investments

2024
£

2023
£

Investments in subsidiaries

1,765,774

1,765,774

Subsidiaries

£

Cost or valuation

At 1 July 2023

1,765,774

At 30 June 2024

1,765,774

Carrying amount

At 30 June 2024

1,765,774

At 30 June 2023

1,765,774

 

Haddow Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Debtors

2024
£

2023
£

Trade debtors

108,457

83,414

Amounts owed by group undertakings

425,752

393,411

Prepayments

65,147

63,157

Other debtors

3,001

2,346

602,357

542,328

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

20,060

19,865

Trade creditors

 

74,511

67,234

Taxation and social security

 

81,443

97,442

Accruals and deferred income

 

110,525

86,525

Other creditors

 

9,304

210

 

295,843

271,276

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

20,060

19,865

 

Haddow Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

787,538

787,538

787,538

787,538

Ordinary B shares of £1 each

61

61

61

61

Ordinary C shares of £1 each

85,000

85,000

85,000

85,000

Ordinary D shares of £1 each

88,400

88,400

88,400

88,400

Ordinary E shares of £1 each

259,947

259,947

259,947

259,947

Ordinary F shares of £1 each

229,090

229,090

229,090

229,090

Ordinary G shares of £1 each

75,000

75,000

75,000

75,000

Ordinary H shares of £1 each

92,938

92,938

92,938

92,938

Ordinary I shares of £1 each

147,800

147,800

147,800

147,800

1,765,774

1,765,774

1,765,774

1,765,774

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £4,846 (2023 - £12,116). This financial commitment is in respect of an operating lease.

The total amount of guarantees not included in the balance sheet is £350,000 (2023 - £500,000). The company has provided a guarantee against bank borrowings of a subsidiary undertaking. The guarantee is secured by way of a fixed charge and floating charge covering all the property or undertaking of the company, and a first legal charge on freehold property.

12

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Interest free loan

-

21,507

(21,507)

-

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Interest free loan

67,957

24,083

(92,040)

-

 

13

Non adjusting events after the financial period

On 29 October 2024 the investment property was sold for £800,000.