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Registration number: 04172387

Halifax Ironworks Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Halifax Ironworks Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Halifax Ironworks Ltd

Balance Sheet

as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

100,929

138,328

Current assets

 

Stocks

53,589

96,670

Debtors

5

306,562

214,521

Cash at bank and in hand

 

333,985

307,272

 

694,136

618,463

Creditors: Amounts falling due within one year

6

(289,248)

(278,169)

Net current assets

 

404,888

340,294

Total assets less current liabilities

 

505,817

478,622

Creditors: Amounts falling due after more than one year

6

(1,246)

(5,063)

Provisions for liabilities

(25,002)

(33,982)

Net assets

 

479,569

439,577

Capital and reserves

 

Allotted, called up and fully paid share capital

20

10

Profit and loss account

479,549

439,567

Shareholders' funds

 

479,569

439,577

Registration number: 04172387

 

Halifax Ironworks Ltd

Balance Sheet

as at 31 March 2025 (continued)

For the financial year ending 31 March 2025 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 

.........................................
Mr S Bottomley
Company secretary and director

 

Halifax Ironworks Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 March 2025

1

General information

The company is a private company limited by shares incorporated in England within the United Kingdom.

The company's registration number is 04172387.

The address of its registered office is:
First Floor
Rosemount House
Huddersfield Road
Elland
West Yorkshire
HX5 0EE

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.

 

Halifax Ironworks Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Government grants

Grants relating to revenue are 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.

Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets.

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.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost (or deemed cost), less any accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Halifax Ironworks Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% per annum on a reducing balance basis

Fixtures and equipment

25% per annum on a reducing balance basis and 33% per annum on a straight line basis

Motor vehicles

25% per annum on a reducing balance basis

Improvements to leasehold property

Over the remaining life of the lease

Stocks and work in progress

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. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Leases

Rentals 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 the profit and loss account on a straight-line basis over the period of the lease.

Hire purchase agreements are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are capitalised and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.

 

Halifax Ironworks Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 March 2025 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 12 (2024 - 12).

4

Tangible assets

Improvements to leasehold property
£

Fixtures and equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost

At 1 April 2024

54,087

46,230

113,262

192,801

406,380

Additions

-

1,615

-

2,529

4,144

Disposals

-

(120)

(32,652)

-

(32,772)

At 31 March 2025

54,087

47,725

80,610

195,330

377,752

Depreciation

At 1 April 2024

51,689

36,303

56,881

123,179

268,052

Charge for the year

1,479

3,656

10,174

10,460

25,769

Eliminated on disposal

-

(34)

(16,964)

-

(16,998)

At 31 March 2025

53,168

39,925

50,091

133,639

276,823

Net book value

At 31 March 2025

919

7,800

30,519

61,691

100,929

At 31 March 2024

2,398

9,927

56,381

69,622

138,328

5

Debtors

Current

2025
£

2024
£

Trade debtors

301,367

206,514

Prepayments and accrued income

5,195

8,007

 

306,562

214,521

 

Halifax Ironworks Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 March 2025 (continued)

6

Creditors

2025
£

2024
£

Due within one year

 

Trade creditors

 

40,166

29,186

HP and finance lease liabilities

3,817

3,664

Corporation tax liability

 

117,444

149,773

Taxation and social security

 

103,345

83,862

Accruals and deferred income

 

16,422

11,357

Directors' loan accounts

 

3,796

180

Other creditors

 

4,258

147

 

289,248

278,169

Due after one year

 

HP and finance lease liabilities

1,246

5,063

7

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 £7,116 (2024 - £5,122). These financial commitments relate to non-cancellable operating leases and are payable over the remaining life of those leases.