Haddow Group Limited 02132183 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is the wholesale of household furnishings, importation & distribution of clothing and property management Digita Accounts Production Advanced 6.30.9574.0 true 02132183 2023-07-01 2024-06-30 02132183 2024-06-30 02132183 bus:OrdinaryShareClass1 2024-06-30 02132183 core:RetainedEarningsAccumulatedLosses 2024-06-30 02132183 core:ShareCapital 2024-06-30 02132183 core:CurrentFinancialInstruments 2024-06-30 02132183 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 02132183 core:Non-currentFinancialInstruments 2024-06-30 02132183 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 02132183 core:Goodwill 2024-06-30 02132183 core:FurnitureFittings 2024-06-30 02132183 core:PlantMachinery 2024-06-30 02132183 1 2024-06-30 02132183 bus:SmallEntities 2023-07-01 2024-06-30 02132183 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02132183 bus:FilletedAccounts 2023-07-01 2024-06-30 02132183 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02132183 bus:RegisteredOffice 2023-07-01 2024-06-30 02132183 bus:Director2 2023-07-01 2024-06-30 02132183 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 02132183 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02132183 core:Goodwill 2023-07-01 2024-06-30 02132183 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-01 2024-06-30 02132183 core:FurnitureFittings 2023-07-01 2024-06-30 02132183 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 02132183 core:MotorCars 2023-07-01 2024-06-30 02132183 core:PlantMachinery 2023-07-01 2024-06-30 02132183 countries:AllCountries 2023-07-01 2024-06-30 02132183 1 2023-07-01 2024-06-30 02132183 2023-06-30 02132183 core:Goodwill 2023-06-30 02132183 core:FurnitureFittings 2023-06-30 02132183 core:PlantMachinery 2023-06-30 02132183 1 2023-06-30 02132183 2022-07-01 2023-06-30 02132183 2023-06-30 02132183 bus:OrdinaryShareClass1 2023-06-30 02132183 core:RetainedEarningsAccumulatedLosses 2023-06-30 02132183 core:ShareCapital 2023-06-30 02132183 core:CurrentFinancialInstruments 2023-06-30 02132183 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 02132183 core:Non-currentFinancialInstruments 2023-06-30 02132183 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 02132183 core:Goodwill 2023-06-30 02132183 core:FurnitureFittings 2023-06-30 02132183 core:PlantMachinery 2023-06-30 02132183 1 2023-06-30 02132183 1 2022-07-01 2023-06-30 02132183 1 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02132183

Haddow Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Haddow Group Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Haddow Group Limited

(Registration number: 02132183)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Intangible assets

4

 

40,000

 

50,000

Tangible assets

5

 

42,861

 

41,355

   

82,861

 

91,355

Current assets

   

 

Stocks

699,289

 

821,301

 

Debtors

6

1,561,357

 

2,107,140

 

Cash at bank and in hand

 

551,013

 

915,532

 

 

2,811,659

 

3,843,973

 

Creditors: Amounts falling due within one year

7

(1,211,500)

 

(1,410,462)

 

Net current assets

   

1,600,159

 

2,433,511

Total assets less current liabilities

   

1,683,020

 

2,524,866

Creditors: Amounts falling due after more than one year

7

 

(200,000)

 

(350,000)

Provisions for liabilities

 

(3,000)

 

(2,000)

Net assets

   

1,480,020

 

2,172,866

Capital and reserves

   

 

Called up share capital

9

100

 

100

 

Retained earnings

1,479,920

 

2,172,766

 

Shareholders' funds

   

1,480,020

 

2,172,866

 

Haddow Group Limited

(Registration number: 02132183)
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 Group 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 Group 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 for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates 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.

Government grants

Grants are measured at the fair value of the asset received or receivable.

Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

 

Haddow Group Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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.

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.

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, less any estimated residual value, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% to 25% straight line basis

Fixtures, fittings and equipment

15% to 25% straight line basis

Motor vehicles

25% straight line basis

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, patents, and licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, patents, and licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents and trademarks

10% straight line basis

 

Haddow Group Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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 Group 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 37 (2023 - 47).

 

Haddow Group Limited

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

4

Intangible assets

Patents and trademarks
£

Cost or valuation

At 1 July 2023

70,000

At 30 June 2024

70,000

Amortisation

At 1 July 2023

20,000

Amortisation charge

10,000

At 30 June 2024

30,000

Carrying amount

At 30 June 2024

40,000

At 30 June 2023

50,000

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

111,151

207,486

318,637

Additions

22,568

-

22,568

Disposals

(1,564)

-

(1,564)

At 30 June 2024

132,155

207,486

339,641

Depreciation

At 1 July 2023

71,257

206,025

277,282

Charge for the year

19,852

730

20,582

Eliminated on disposal

(1,084)

-

(1,084)

At 30 June 2024

90,025

206,755

296,780

Carrying amount

At 30 June 2024

42,130

731

42,861

At 30 June 2023

39,894

1,461

41,355

 

Haddow Group Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,165,695

1,511,879

Prepayments

85,984

103,456

Other debtors

309,678

491,805

 

1,561,357

2,107,140

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

158,256

496,975

Trade creditors

281,335

186,367

Amounts owed to group undertakings

425,885

388,103

Taxation and social security

135,282

175,212

Accruals and deferred income

188,160

138,938

Other creditors

22,582

24,867

1,211,500

1,410,462

Creditors include bank loans and overdrafts which are secured of £158,256 (2023 - £496,975) by way of fixed and floating charges over all assets of the company.

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

200,000

350,000

Creditors include bank loans and overdrafts which are secured of £200,000 (2023 - £350,000) by way of fixed and floating charges over all assets of the company.

 

Haddow Group Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

200,000

350,000

Current loans and borrowings

2024
£

2023
£

Bank borrowings

150,000

150,000

Bank overdrafts

8,256

346,975

158,256

496,975

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

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 £3,830 (2023 - £18,957). This financial commitment is in respect of operating leases.

11

Related party transactions

2024

At 1 July 2023
£

Advances to director
£

At 30 June 2024
£

Interest free directors' loan

5,000

7,253

12,253

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Interest free directors' loan

23,183

5,000

(23,183)

5,000