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REGISTERED NUMBER: 09400085 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 September 2024

for

HFABS (North) Limited

HFABS (North) Limited (Registered number: 09400085)






Contents of the Financial Statements
for the Year Ended 29 September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


HFABS (North) Limited (Registered number: 09400085)

Balance Sheet
29 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,250 2,550
Tangible assets 5 498,470 536,485
Investments 6 100 100
500,820 539,135

CURRENT ASSETS
Stocks 55,250 50,115
Debtors 7 432,010 371,891
Cash at bank and in hand 14,471 27,518
501,731 449,524
CREDITORS
Amounts falling due within one year 8 593,429 494,208
NET CURRENT LIABILITIES (91,698 ) (44,684 )
TOTAL ASSETS LESS CURRENT LIABILITIES 409,122 494,451

CREDITORS
Amounts falling due after more than one year 9 (294,852 ) (370,465 )

PROVISIONS FOR LIABILITIES (34,737 ) (34,737 )
NET ASSETS 79,533 89,249

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 79,333 89,049
SHAREHOLDERS' FUNDS 79,533 89,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HFABS (North) Limited (Registered number: 09400085)

Balance Sheet - continued
29 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





Mr I H Hughes - Director


HFABS (North) Limited (Registered number: 09400085)

Notes to the Financial Statements
for the Year Ended 29 September 2024

1. STATUTORY INFORMATION

HFABS (North) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09400085

Registered office: Unit 5 Denton Drive
Northwich
Cheshire
CW9 7LU

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about HFABS (North) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contacts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - NIL % per annum
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


HFABS (North) Limited (Registered number: 09400085)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 September 2023
and 29 September 2024 3,000
AMORTISATION
At 30 September 2023 450
Amortisation for year 300
At 29 September 2024 750
NET BOOK VALUE
At 29 September 2024 2,250
At 29 September 2023 2,550

HFABS (North) Limited (Registered number: 09400085)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 30 September 2023 155,017 475,453 42,002 5,996 678,468
Additions - - - 4,627 4,627
At 29 September 2024 155,017 475,453 42,002 10,623 683,095
DEPRECIATION
At 30 September 2023 - 129,683 10,761 1,539 141,983
Charge for year - 34,577 6,248 1,817 42,642
At 29 September 2024 - 164,260 17,009 3,356 184,625
NET BOOK VALUE
At 29 September 2024 155,017 311,193 24,993 7,267 498,470
At 29 September 2023 155,017 345,770 31,241 4,457 536,485

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 30 September 2023 374,711 25,000 399,711
Transfer to ownership (100,000 ) - (100,000 )
At 29 September 2024 274,711 25,000 299,711
DEPRECIATION
At 30 September 2023 76,984 6,000 82,984
Charge for year 29,773 3,800 33,573
Transfer to ownership (54,562 ) - (54,562 )
At 29 September 2024 52,195 9,800 61,995
NET BOOK VALUE
At 29 September 2024 222,516 15,200 237,716
At 29 September 2023 297,727 19,000 316,727

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 30 September 2023
and 29 September 2024 100
NET BOOK VALUE
At 29 September 2024 100
At 29 September 2023 100

HFABS (North) Limited (Registered number: 09400085)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 306,163 238,368
Other debtors 125,847 133,523
432,010 371,891

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,028 11,285
Hire purchase contracts 54,133 58,977
Trade creditors 89,564 96,177
Taxation and social security 192,185 137,602
Other creditors 245,519 190,167
593,429 494,208

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 135,988 147,775
Hire purchase contracts 136,642 195,619
Other creditors 22,222 27,071
294,852 370,465

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 86,199 101,002

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 190,775 254,596

ABN AMRO Commercial Finance PLC had a fixed and floating charge over all the assets in the company, which was satisfied on 14 January 2022.

On 24 March 2022, a charge was created by Time Invoice Finance Ltd which has a fixed and floating charge over all the assets in the company,

The hire purchase liabilities are secured against the assets to which they relate to.