Company No: 03765338 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	1,528,695		1,440,861
		1,528,695		1,440,861
Current assets
Stocks		367,677		321,819
Debtors	5	1,504,227		1,515,675
Cash at bank and in hand		244,248		25,909
		2,116,152		1,863,403
Creditors: amounts falling due within one year	6	( 1,053,386)		( 1,342,724)
Net current assets		1,062,766		520,679
Total assets less current liabilities		2,591,461		1,961,540
Creditors: amounts falling due after more than one year	7	( 82,029)		( 240,435)
Provision for liabilities		( 318,497)		( 291,274)
Net assets		2,190,935		1,429,831
Capital and reserves
Called-up share capital		100		100
Profit and loss account		2,190,835		1,429,731
Total shareholder's funds		2,190,935		1,429,831

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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Haines Construction (Southern) Limited (registered number: 03765338) were approved and authorised for issue by the Board of Directors on 18 August 2025. They were signed on its behalf by:

Mr K Haines Director

Mr P Haines Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Haines Construction (Southern) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Beversbrook Farm, Beversbrook Hilmarton, Calne, SN11 8RX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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 and after eliminating sales within the company.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	5 years straight line
Other intangible assets	5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Leasehold improvements	depreciated over the life of the lease
Plant and machinery	10 - 25 % reducing balance
Vehicles	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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 stocks 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	47		47

3. Intangible assets

	Goodwill		Other intangible assets		Total
	£		£		£
Cost
At 01 January 2024	7,200		2,000		9,200
At 31 December 2024	7,200		2,000		9,200
Accumulated amortisation
At 01 January 2024	7,200		2,000		9,200
At 31 December 2024	7,200		2,000		9,200
Net book value
At 31 December 2024	0		0		0
At 31 December 2023	0		0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 January 2024	548,447		2,189,365		622,811		3,360,623
Additions	0		322,600		64,262		386,862
Disposals	0		( 577,926)		( 246,996)		( 824,922)
At 31 December 2024	548,447		1,934,039		440,077		2,922,563
Accumulated depreciation
At 01 January 2024	303,884		1,288,318		327,560		1,919,762
Charge for the financial year	446		100,008		40,686		141,140
Disposals	0		( 500,810)		( 166,224)		( 667,034)
At 31 December 2024	304,330		887,516		202,022		1,393,868
Net book value
At 31 December 2024	244,117		1,046,523		238,055		1,528,695
At 31 December 2023	244,563		901,047		295,251		1,440,861

5. Debtors

	2024		2023
	£		£
Trade debtors	274,607		444,031
Amounts owed by Group undertakings	1,139,718		1,033,542
Prepayments	89,902		38,102
	1,504,227		1,515,675

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts	308,621		411,478
Trade creditors	314,623		578,713
Accruals	11,628		41,168
Taxation and social security	301,763		153,309
Obligations under finance leases and hire purchase contracts	116,751		155,162
Other creditors	0		2,894
	1,053,386		1,342,724

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	0		95,660
Obligations under finance leases and hire purchase contracts	82,029		144,775
	82,029		240,435

There are no amounts included above in respect of which any security has been given by the small entity.

8. Ultimate controlling party

Parent Company:

Haines Holdings (Construction) Limited

Beversbrook Farm, Hilmarton, Calne, Wiltshire, SN11 8RX, England