Company No: 00524200 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	R A Hays
	T W Hays

SECRETARY

L Hays

REGISTERED OFFICE	Baggot Hall
	Station Road
	Harston
	Cambridge
	Cambridgeshire
	CB22 7NY
	United Kingdom

COMPANY NUMBER

00524200 (England and Wales)

ACCOUNTANT	S&W Partners (East) LLP
	Stonecross
	Trumpington High Street
	Cambridge
	CB2 9SU

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	472,516		519,304
Investments	4	177,940		155,939
		650,456		675,243
Current assets
Stocks	5	253,956		284,760
Debtors	6	29,227		54,407
Cash at bank and in hand		236,542		181,324
		519,725		520,491
Creditors: amounts falling due within one year	7	( 554,992)		( 535,553)
Net current liabilities		(35,267)		(15,062)
Total assets less current liabilities		615,189		660,181
Creditors: amounts falling due after more than one year	8	( 16,245)		( 32,355)
Provision for liabilities	9	( 349)		( 7,325)
Net assets		598,595		620,501
Capital and reserves
Called-up share capital	10	6,765		6,765
Profit and loss account		591,830		613,736
Total shareholders' funds		598,595		620,501

For the financial year ending 30 September 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 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 Profit and Loss Account has not been delivered.

The financial statements of T.& W.Hays Bros.Limited (registered number: 00524200) were approved and authorised for issue by the Board of Directors on 19 August 2025. They were signed on its behalf by:

R A Hays 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

T.& W.Hays Bros.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 Baggot Hall, Station Road, Harston, Cambridge, Cambridgeshire, CB22 7NY, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of T.& W.Hays Bros.Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Sales of farm produce and livestock are recognised when the product is delivered to the customer.

Basic Payment Scheme income is recognised on an accruals basis, so that the payment for a calendar year is recognised 75% in the financial year ended September of that calendar year and the remaining 25% in the following financial year.

Rental income is also recognised on an accruals basis.

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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	15 - 25 % reducing balance
Fixtures and fittings	10 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 Profit and Loss Account 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 Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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, 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.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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	4		4

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 October 2023	287,109		1,126,787		145,603		1,559,499
Additions	0		1,690		0		1,690
At 30 September 2024	287,109		1,128,477		145,603		1,561,189
Accumulated depreciation
At 01 October 2023	0		909,133		131,062		1,040,195
Charge for the financial year	0		24,505		5,896		30,401
Charge for the year on financed assets	0		18,077		0		18,077
At 30 September 2024	0		951,715		136,958		1,088,673
Net book value
At 30 September 2024	287,109		176,762		8,645		472,516
At 30 September 2023	287,109		217,654		14,541		519,304
Leased assets included above:
Net book value
At 30 September 2024	0		54,230		0		54,230
At 30 September 2023	0		72,306		0		72,306

4. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 October 2023	155,939		155,939
Additions	2,697		2,697
Movement in fair value	19,304		19,304
At 30 September 2024	177,940		177,940
Carrying value at 30 September 2024	177,940		177,940
Carrying value at 30 September 2023	155,939		155,939

5. Stocks

	2024		2023
	£		£
Raw materials	32,761		42,471
Work in progress	24,471		31,950
Finished goods	196,724		210,339
	253,956		284,760

6. Debtors

	2024		2023
	£		£
Prepayments and accrued income	15,073		29,083
VAT recoverable	14,154		19,532
Corporation tax	0		5,792
	29,227		54,407

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	0		100
Amounts owed to directors	469,753		469,753
Accruals	66,814		47,362
Other taxation and social security	1,486		848
Obligations under finance leases and hire purchase contracts	16,111		15,976
Other creditors	828		1,514
	554,992		535,553

Hire purchase liabilities are secured on the assets concerned.

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

	2024		2023
	£		£
Obligations under finance leases and hire purchase contracts	16,245		32,355

9. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 7,325)		( 10,879)
Credited to the Profit and Loss Account	6,976		3,554
At the end of financial year	( 349)		( 7,325)

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
6,765 Shares ordinary shares of £ 1.00 each	6,765		6,765

11. Related party transactions

Included within other creditors is a balance of £469,753 (2023: £469,753) owed to the Directors.

Interest of £6,936 (2023: £6,936) was paid to the directors on the above amount.