Company No: 00056710 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,784,235		2,790,073
Investments	4	2,840		2,840
		2,787,075		2,792,913
Current assets
Stocks		364,318		382,634
Debtors	5	452,296		406,811
Cash at bank and in hand		3,550		92,622
		820,164		882,067
Creditors: amounts falling due within one year	6	( 348,644)		( 318,238)
Net current assets		471,520		563,829
Total assets less current liabilities		3,258,595		3,356,742
Creditors: amounts falling due after more than one year	7	( 473,314)		( 494,663)
Provision for liabilities		( 74,484)		( 75,808)
Net assets		2,710,797		2,786,271
Capital and reserves
Called-up share capital		114,850		114,850
Share premium account		20,381		20,381
Revaluation reserve		1,970,089		1,970,089
Profit and loss account		605,477		680,951
Total shareholder's funds		2,710,797		2,786,271

For the financial year ending 30 April 2025 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 Profit and Loss Account has not been delivered.

The financial statements of Hatcher and Sons Limited (registered number: 00056710) were approved and authorised for issue by the Board of Directors on 20 October 2025. They were signed on its behalf by:

M Raisey Director

S A Hill 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

Hatcher and Sons 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 11 High Street, Taunton, Somerset, TA1 3PQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 represents amounts receivable, net of value added tax and trade discounts, in respect of the sale of goods and services to customers. Turnover is recognised at the point of sale.

Other operating income represents commissions receivable that are recognised at the point of sale and management charges that are recognised as services rendered.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either debtors or creditors in the Balance Sheet.

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. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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 liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 etc.	3 - 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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stock comprises goods for resale and is valued at the current selling price less the standard gross profit margin, reduced for any impairment which is recognised immediately in the profit and loss account.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

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.

Loans and borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	39		39

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 May 2024	2,750,000		403,751		3,153,751
Additions	0		18,537		18,537
Disposals	0		( 1,100)		( 1,100)
At 30 April 2025	2,750,000		421,188		3,171,188
Accumulated depreciation
At 01 May 2024	0		363,678		363,678
Charge for the financial year	0		24,375		24,375
Disposals	0		( 1,100)		( 1,100)
At 30 April 2025	0		386,953		386,953
Net book value
At 30 April 2025	2,750,000		34,235		2,784,235
At 30 April 2024	2,750,000		40,073		2,790,073

Revaluation of tangible assets

Freehold land and buildings were revalued on 1 May 2015 by the directors and the basis of the valuation was open market value.

If freehold land and buildings had been accounted for using the cost accounting rules, they would have been measured as follows:

	2025		2024
	£		£
Historical cost	706,782		706,782
Carrying value	706,782		706,782

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 May 2024	2,840		2,840
At 30 April 2025	2,840		2,840
Carrying value at 30 April 2025	2,840		2,840
Carrying value at 30 April 2024	2,840		2,840

5. Debtors

	2025		2024
	£		£
Trade debtors	22,502		13,652
Amounts owed by Parent undertakings	366,482		366,447
Other debtors	63,312		26,712
	452,296		406,811

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	91,412		21,250
Trade creditors	168,046		160,132
Taxation and social security	17,357		49,958
Other creditors	71,829		86,898
	348,644		318,238

The bank borrowing is secured on the freehold land and buildings and a debenture over the assets of the company.

The Bank loans comprise:

A bank loan with an interest rate of 1% over base rate with the final installment due June 2026. The carrying amount at
the year end is £13,597 (2024: £23,696), of which £10,000 (2024: £10,000) is due within one year.

A bank loan with an interest rate of 2.58% over base rate with the final instalment due March 2026. The carrying
amount at the year end is £146,250 (2024: £157,500), of which £11,250 (2024: £11,250) is due within one year.

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

	2025		2024
	£		£
Bank loans	448,597		469,946
Other creditors	24,717		24,717
	473,314		494,663

The bank borrowings are secured on the freehold land and buildings and a debenture over the assets of the company.
The bank borrowing comprises:

A bank loan with an interest rate of 1% over base rate with the final instalment due June 2026. The carrying amount at
the year end is £13,597 (2024: £23,696). £3,597 (2024: £13,696) is due in greater than one year, but less than five
years.

A bank loan with an interest rate of 2.5% over LIBOR with the final instalment due June 2026. The carrying amount at
the year end is £310,000 (2024: £310,000). £310,000 (2024: £310,000) is due in greater than one year, but less than
five years.

A bank loan with an interest rate of 2.58% over base rate with the final instalment due March 2026. The carrying
amount at the year end is £146,250 (2024: £157,500). £135,000 (2024: £146,250) is due in greater than one year, but
less than five years.

The £310,000 and £146,250 loans are rolling loans and the agreements are resigned every three years. The nature of
the loans is such that the repayments will be made in instalments over more than 5 years and this forms the basis for
the disclosure below.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans	400,000		411,250
Other creditors	24,717		24,717
	424,717		435,967