Hargreaves Foundry Drainage Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03428346

HARGREAVES FOUNDRY DRAINAGE LTD

FILLETED FINANCIAL STATEMENTS

31 March 2025

HARGREAVES FOUNDRY DRAINAGE LTD

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

CURRENT ASSETS

Stocks		2,705,913	2,530,557
Debtors	5	1,952,465	1,618,217
Cash at bank and in hand		21,948	18,217
		-------------	-------------
		4,680,326	4,166,991

CREDITORS: amounts falling due within one year	6	3,018,704		3,002,517
		-------------		-------------
NET CURRENT ASSETS			1,661,622		1,164,474
			-------------		-------------
TOTAL ASSETS LESS CURRENT LIABILITIES			1,661,622		1,164,474

CREDITORS: amounts falling due after more than one year
Bank loans and overdrafts	2,053	12,500
	-------------	-------------
NET ASSETS	1,659,569	1,151,974
	-------------	-------------

HARGREAVES FOUNDRY DRAINAGE LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	1,659,469	1,151,874
	-------------	-------------
SHAREHOLDERS FUNDS	1,659,569	1,151,974
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 19 December 2025 , and are signed on behalf of the board by:

M J Hinchliffe

Director

Company registration number: 03428346

HARGREAVES FOUNDRY DRAINAGE LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Water Lane, Halifax, West Yorkshire, HX3 9HG.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

Based on internal forecasts and projections, prepared for a period of at least 12 months from the date of approval of the financial statements, that take into account expected changes in the group's trading performance, the directors have a reasonable expectation that the group, including this company, has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going concern basis has been adopted in the preparation of the financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimation that the director has made in the process of applying the entity's accounting policies and that has the most significant effect on the amounts recognised in the financial statements relate to the calculation of the stock provision.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Current and deferred tax

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 40 (2024: 36 ).

5. DEBTORS

	2025	2024
	£	£
Trade debtors	1,379,064	1,126,955
Amounts owed by group undertakings and undertakings in which the company has a participating interest	268,473	256,163
Other debtors	304,928	235,099
	-------------	-------------
	1,952,465	1,618,217
	-------------	-------------

6. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	500,374	757,681
Trade creditors	227,713	253,822
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,588,872	1,434,001
Corporation tax	215,456	113,891
Social security and other taxes	163,943	157,389
Other creditors	322,346	285,733
	-------------	-------------
	3,018,704	3,002,517
	-------------	-------------

All Barclays Bank borrowings are secured by a charge over Clough Works, Bolton Brow, Sowerby Bridge, Halifax, a property owned by the holding company together with a fixed and floating charge over all company and group assets. All members of the group have given cross guarantees to cover bank borrowings within the group.

7. OPERATING LEASES

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	27,290	25,050
Later than 1 year and not later than 5 years	37,413	39,360
	---------	---------
	64,703	64,410
	---------	---------

8. CONTINGENCIES

All fixed assets acquired by the company, including related finance, are transferred immediately upon acquisition to the holding company. The legal responsibility for all finance rests with this company although the holding company has undertaken to make all payments and settle all outstanding liabilities as they fall due. Barclays Bank Plc holds a cross guarantee and debenture against the company's assets as security on all bank borrowings throughout the group. The outstanding balances at 31 March 2025 in the group were £502,335 (2024: £770,651).

9. SUMMARY AUDIT OPINION

The auditor's report dated 22 December 2025 was unqualified .

The senior statutory auditor was Sally Shacklock, FCA , for and on behalf of Streets Audit LLP .

10. ULTIMATE PARENT COMPANY

The company's immediate and ultimate parent company is A. Dyson & Son (Patterns) Ltd . The address of the registered office of A. Dyson & Son (Patterns) Ltd is Water Lane, Halifax, West Yorkshire, HX3 9HG . This is the largest and smallest group for which group accounts are drawn up and of which the company is a member. Consolidated accounts are available from Companies House.