REGISTERED NUMBER: 04309615 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Hayman Norton Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R. J. Hayman

J.P. Hayman

J.H. Hayman

L Hayman

T Hayman

SECRETARY:

J.P. Hayman

REGISTERED OFFICE:

Ashmole & Co

Williamston House

7 Goat Street

HAVERFORDWEST

Pembrokeshire

SA61 1PX

REGISTERED NUMBER:

04309615 (England and Wales)

BANKERS:

Lloyds TSB

7 Victoria Place

Haverfordwest

Pembrokeshire

SA61 2JX

FIXED ASSETS

Intangible assets

4

49,450

45,000

Tangible assets

5

3,340,874

2,854,395

3,390,324

2,899,395

CURRENT ASSETS

Stocks

6

1,077,935

1,181,493

Debtors

7

364,979

193,583

Cash at bank

827

774

1,443,741

1,375,850

CREDITORS

Amounts falling due within one year

8

1,248,362

1,075,960

NET CURRENT ASSETS

195,379

299,890

TOTAL ASSETS LESS CURRENT LIABILITIES

3,585,703

3,199,285

CREDITORS

Amounts falling due after more than one year

9

(832,643

)

(748,460

)

PROVISIONS FOR LIABILITIES

(598,774

)

(531,421

)

NET ASSETS

2,154,286

1,919,404

CAPITAL AND RESERVES

Called up share capital

1,000

2

Retained earnings

2,153,286

1,919,402

SHAREHOLDERS' FUNDS

2,154,286

1,919,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

R. J. Hayman - Director

1.	STATUTORY INFORMATION

Hayman Norton Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

4% on cost

Plant and machinery

-

10% on cost

Windturbine

-

5% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

50,000

Additions

10,500

At 31 March 2025

60,500

AMORTISATION

At 1 April 2024

5,000

Amortisation for year

6,050

At 31 March 2025

11,050

NET BOOK VALUE

At 31 March 2025

49,450

At 31 March 2024

45,000

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2024

383,394

647,058

4,411,982

Additions

138,000

103,933

736,329

Disposals

-

-

(243,720

)

At 31 March 2025

521,394

750,991

4,904,591

DEPRECIATION

At 1 April 2024

-

278,720

2,433,135

Charge for year

-

30,040

388,029

Eliminated on disposal

-

-

(165,410

)

At 31 March 2025

-

308,760

2,655,754

NET BOOK VALUE

At 31 March 2025

521,394

442,231

2,248,837

At 31 March 2024

383,394

368,338

1,978,847

Motor

Windturbine

vehicles

Totals

£

£

£

COST

At 1 April 2024

73,000

160,953

5,676,387

Additions

-

50,500

1,028,762

Disposals

-

(12,000

)

(255,720

)

At 31 March 2025

73,000

199,453

6,449,429

DEPRECIATION

At 1 April 2024

47,450

62,687

2,821,992

Charge for year

3,650

35,504

457,223

Eliminated on disposal

-

(5,250

)

(170,660

)

At 31 March 2025

51,100

92,941

3,108,555

NET BOOK VALUE

At 31 March 2025

21,900

106,512

3,340,874

At 31 March 2024

25,550

98,266

2,854,395

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

1,342,029

131,953

1,473,982

Additions

562,013

50,500

612,513

Transfer to ownership

(470,320

)

(21,700

)

(492,020

)

At 31 March 2025

1,433,722

160,753

1,594,475

DEPRECIATION

At 1 April 2024

247,822

53,187

301,009

Charge for year

143,372

30,028

173,400

Transfer to ownership

(154,676

)

(12,545

)

(167,221

)

At 31 March 2025

236,518

70,670

307,188

NET BOOK VALUE

At 31 March 2025

1,197,204

90,083

1,287,287

At 31 March 2024

1,094,207

78,766

1,172,973

6.

STOCKS

31.3.25

31.3.24

£

£

Livestock

253,912

222,612

Deadstock

824,023

958,881

1,077,935

1,181,493

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

VAT

51,475

53,244

Debtors & prepayments

313,504

140,339

364,979

193,583

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

258,847

200,019

Hire purchase contracts

318,230

257,516

Trade creditors

392,933

238,728

Tax

3,904

-

Social security and other taxes

11,590

10,637

Directors' current accounts

255,949

362,151

Deferred government grants

6,909

6,909

1,248,362

1,075,960

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

127,762

220,518

Hire purchase contracts

447,214

463,366

Directors' loan accounts

200,000

-

Deferred government grants

57,667

64,576

832,643

748,460

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

R. J. Hayman and J.P. Hayman

Balance outstanding at start of year

(362,151

)

(498,413

)

Amounts advanced

76,814

153,062

Amounts repaid

(171,609

)

(16,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(456,946

)

(362,151

)