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REGISTERED NUMBER: 04338618 (England and Wales)




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

HUNTLEY & PALMERS LIMITED

HUNTLEY & PALMERS LIMITED (REGISTERED NUMBER: 04338618)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HUNTLEY & PALMERS LIMITED

COMPANY INFORMATION
for the year ended 31 October 2024







DIRECTORS: T J L Freeman
M J M Freeman
Mrs L B Freeman
H L Freeman
B J Freeman





SECRETARY: Mrs L B Freeman





REGISTERED OFFICE: National Distribution Centre
Fryers Road
Bloxwich
Walsall
WS2 7LZ





REGISTERED NUMBER: 04338618 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

HUNTLEY & PALMERS LIMITED (REGISTERED NUMBER: 04338618)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 308 1,300
Debtors 5 8,521,951 88,478
Cash at bank 371,749 122,226
8,894,008 212,004
CREDITORS
Amounts falling due within one year 6 8,580,813 120,007
NET CURRENT ASSETS 313,195 91,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,195

91,997

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 312,195 90,997
SHAREHOLDERS' FUNDS 313,195 91,997

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2025 and were signed on its behalf by:





H L Freeman - Director


HUNTLEY & PALMERS LIMITED (REGISTERED NUMBER: 04338618)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Huntley & Palmers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and
services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the
consideration is the present value of the future receipts. The difference between the fair value of the
consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset maybe impaired at
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

HUNTLEY & PALMERS LIMITED (REGISTERED NUMBER: 04338618)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and
replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities..

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and
Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the
company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention
to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


HUNTLEY & PALMERS LIMITED (REGISTERED NUMBER: 04338618)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit
as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of
deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if
the timing difference arises from goodwill or from the initial recognition of other assets and liabilities
in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to
the extent that it is no longer probable that sufficient taxable profits will be available to allow all or
part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to
apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or
credited in the income statement, except when it relates to items charged or credited directly to
equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities
are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Going concern
The financial statements have been drawn up on a going concern basis based upon the continuing
support of the parent company who have indicated they will not require repayment of amounts due
to them as would bring such basis into doubt.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 November 2023
and 31 October 2024 101,540
AMORTISATION
At 1 November 2023
and 31 October 2024 101,540
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

HUNTLEY & PALMERS LIMITED (REGISTERED NUMBER: 04338618)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 6,527
Amounts owed by group undertakings 117,252 80,674
Other debtors 8,400,000 -
VAT 4,699 1,277
8,521,951 88,478

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,509 5,956
Amounts owed to group undertakings 8,500,143 100,307
Tax 73,761 11,344
Accruals and deferred income 2,400 2,400
8,580,813 120,007

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary share £1 1,000 1,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Spafford FCA FCCA (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose
related party transaction with wholly owed subsidiaries within the group.

Included in other debtors is £2,800,000 (2023 - £Nil) due from TRF Developments Ltd, a company of which T J L Freeman, director, is also a director.

Included in other debtors is £2,800,000 (2023 - £Nil) due from BJF Property Management Ltd, a company of which B J Freeman, director, is also a director.

Included in other debtors is £2,800,000 (2023 - £Nil) due from MJF Properties (Midlands) Ltd, a company of which M J M Freeman, director, is also a director.

10. PARENT COMPANY

The company is a wholly owned subsidiary of Freemans Holdings Limited, a company incorporated in Guernsey, whose registered address is Les Echelons Court, Les Echelons, St Peter Port, Guernsey, GY1 1AR.