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Registration number: 02643093

Hay-on-Wye Markets Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Hay-on-Wye Markets Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Hay-on-Wye Markets Limited

Company Information

Directors

Mr J E Evans

Ms C Purcell

Ms E Daw

Mr G J Bingham

Company secretary

Mr J E Evans

Registered office

Ty Gardd
Forest Road
Hay on Wye
Hereford
HR3 5DS

Bankers

Barclays Bank plc
1-3 Broad Street
Hereford
HR4 9BH

Accountants

W J James & Co
Chartered AccountantsBishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Hay-on-Wye Markets Limited

(Registration number: 02643093)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,503

5,037

Current assets

 

Stocks

550

-

Debtors

5

194

61

Cash at bank and in hand

 

14,130

20,528

 

14,874

20,589

Creditors: Amounts falling due within one year

6

(1,862)

(4,200)

Net current assets

 

13,012

16,389

Net assets

 

19,515

21,426

Capital and reserves

 

Called up share capital

2

2

Retained earnings

19,513

21,424

Shareholders' funds

 

19,515

21,426

For the financial year ending 31 December 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 and 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 22 July 2025 and signed on its behalf by:
 

.........................................
Mr J E Evans
Company secretary and director

.........................................
Ms E Daw
Director

 

Hay-on-Wye Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Ty Gardd
Forest Road
Hay on Wye
Hereford
HR3 5DS

The principal place of business is:
Hay on Wye Market
Hay on Wye
Hereford

These financial statements were authorised for issue by the Board on 22 July 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 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 represents monies receivable from market traders.

Tax

The tax expense for the period comprises 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 income 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

 

Hay-on-Wye Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class

Depreciation method and rate

Equipment

25% on cost

Office equipment

33% on reducing balance

Motor vehicles

25 % on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Stocks

Stocks are stated at cost price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 0 (2023 - 0).

 

Hay-on-Wye Markets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Equipment
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

8,456

1,608

5,600

15,664

Additions

3,842

-

-

3,842

At 31 December 2024

12,298

1,608

5,600

19,506

Depreciation

At 1 January 2024

7,269

908

2,450

10,627

Charge for the year

1,357

231

788

2,376

At 31 December 2024

8,626

1,139

3,238

13,003

Carrying amount

At 31 December 2024

3,672

469

2,362

6,503

At 31 December 2023

1,187

700

3,150

5,037

5

Debtors

Current

2024
£

2023
£

Trade debtors

20

-

Prepayments

174

61

 

194

61

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

410

2,282

Taxation and social security

-

530

Accruals and deferred income

1,452

1,388

1,862

4,200