Registration number: 07719334

Hexham Abbey Trading Limited

Contents

Accountants' Report	1
Profit and Loss Account	2
Balance Sheet	3
Statement of Changes in Equity	5
Notes to the Unaudited Financial Statements	6

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hexham Abbey Trading Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hexham Abbey Trading Limited for the year ended 31 December 2024 as set out on pages 2 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Hexham Abbey Trading Limited, as a body, in accordance with the terms of our engagement letter dated 21 December 2023. Our work has been undertaken solely to prepare for your approval the accounts of Hexham Abbey Trading Limited and state those matters that we have agreed to state to the Board of Directors of Hexham Abbey Trading Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hexham Abbey Trading Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hexham Abbey Trading Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hexham Abbey Trading Limited. You consider that Hexham Abbey Trading Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Hexham Abbey Trading Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Dodd & Co Audit Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

11 April 2025

Hexham Abbey Trading Limited

Profit and Loss Account for the Year Ended 31 December 2024

	Note	2024 £	2023 £
Turnover		691,913	718,239
Cost of sales		(252,753)	(240,229)
Gross profit		439,160	478,010
Administrative expenses		(349,599)	(338,777)
Operating profit		89,561	139,233
Other interest receivable and similar income		1,319	-
Profit before tax		90,880	139,233
Profit for the financial year		90,880	139,233

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Hexham Abbey Trading Limited

(Registration number: 07719334)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	9,396	12,664
Current assets
Stocks		46,590	39,389
Debtors	5	21,675	188,028
Cash at bank and in hand		128,746	146,822
		197,011	374,239
Creditors: Amounts falling due within one year	6	(152,207)	(329,235)
Net current assets		44,804	45,004
Net assets		54,200	57,668
Capital and reserves
Allotted, called up and fully paid share capital		40,693	40,693
Profit and loss account		13,507	16,975
Total equity		54,200	57,668

Hexham Abbey Trading Limited

(Registration number: 07719334)
Balance Sheet as at 31 December 2024 (continued)

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 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. 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 11 April 2025 and signed on its behalf by:
 

.........................................

C P Hewitt

Director

Hexham Abbey Trading Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

	Share capital £	Retained earnings £	Total £
At 1 January 2024	40,693	16,975	57,668
Profit for the year	-	90,880	90,880
Total comprehensive income	-	90,880	90,880
Gift aid distribution	-	(94,348)	(94,348)
At 31 December 2024	40,693	13,507	54,200

	Share capital £	Retained earnings £	Total £
At 1 January 2023	40,693	13,746	54,439
Profit for the year	-	139,233	139,233
Total comprehensive income	-	139,233	139,233
Gift aid distribution	-	(136,004)	(136,004)
At 31 December 2023	40,693	16,975	57,668

Hexham Abbey Trading 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:
Hexham Abbey Parish Centre
Beaumont Street
HEXHAM
NE46 3NB

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Government grants
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

Hexham Abbey Trading Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

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:

Asset class	Depreciation method and rate
Furniture, fittings and office equipment	3 years straight line

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 the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Hexham Abbey Trading Limited

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

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 35 (2023 - 34).

4	Tangible assets

	Furniture, fittings and office equipment  £	Total £
Cost or valuation
At 1 January 2024	46,064	46,064
Additions	6,470	6,470
At 31 December 2024	52,534	52,534
Depreciation
At 1 January 2024	33,400	33,400
Charge for the year	9,738	9,738
At 31 December 2024	43,138	43,138
Carrying amount
At 31 December 2024	9,396	9,396
At 31 December 2023	12,664	12,664

Hexham Abbey Trading Limited

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

5

Debtors

	2024 £	2023 £
Trade debtors	13,935	12,236
Amounts owed by group undertakings and undertakings in which the company has a participating interest	7,740	175,792
	21,675	188,028

6

Creditors

		2024 £	2023 £
Due within one year
Trade creditors		12,007	20,344
Amounts owed to group undertakings and undertakings in which the company has a participating interest		94,348	267,009
Taxation and social security		32,249	31,477
Other creditors		13,603	10,405
		152,207	329,235