Richard Hails Engineering Limited

Richard Hails Engineering Limited
Directors' Report
For the year ended 31 January 2026

Director's report and financial statements

The directors present their annual report and the financial statements for the year ended 31 January 2026.

Principal activities

The principal activity of the company during the financial year was of the maintenance of motor vehicles.

Directors

The directors who served the company throughout the year were as follows:

Patricia Hails

Jonathan Hails

Statement of directors' responsibilities

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :
-    select suitable accounting policies and then apply them consistently
-    make judgements and accounting estimates that are reasonable and prudent
-    state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
-    prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:

----------------------------------
Jonathan Hails
Director

Date approved: 18 September 2026

Registered Number: 05677364 Richard Hails Engineering Limited
Statement of Financial Position
As at 31 January 2026

	Notes	2026 £	2025 £
Fixed assets
Intangible fixed assets	3	-	500
Tangible fixed assets	4	108,735	45,178
		108,735	45,678
Current assets
Stocks	5	80,000	88,915
Debtors	6	192,659	172,340
Cash at bank and in hand		186,515	224,715
		459,174	485,970
Creditors: amount falling due within one year	7	(150,845)	(134,584)
Net current assets		308,329	351,386

Total assets less current liabilities		417,064	397,064
Provisions for liabilities	8	(20,007)	(10,594)
Net assets		397,057	386,470

Capital and reserves
Called up share capital		100	100
Profit and loss account		396,957	386,370
Shareholders' funds		397,057	386,470

For the year ended 31 January 2026 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These 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 income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 18 September 2026 and were signed on its behalf by:

-------------------------------
Jonathan Hails
Director

Richard Hails Engineering Limited
Notes to the Financial Statements
For the year ended 31 January 2026

General Information

Richard Hails Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 05677364, registration address 3 Brickfields Business Park, Old Stowmarket Road, Woolpit, Bury St Edmunds , IP30 9QS.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

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

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and Buildings	10 Years Straight Line
Plant and Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 9 (2025 : 9).

Intangible fixed assets

Cost	Goodwill	Total
	£	£
At 01 February 2025	10,000	10,000
Additions	-	-
Disposals	-	-
At 31 January 2026	10,000	10,000
Amortisation
At 01 February 2025	9,500	9,500
Charge for year	500	500
On disposals	-	-
At 31 January 2026	10,000	10,000
Net book values
At 31 January 2026	-	-
At 31 January 2025	500	500

Tangible fixed assets

Cost or valuation	Land and Buildings	Plant and Machinery	Motor Vehicles	Total
	£	£	£	£
At 01 February 2025	119,559	218,830	-	338,389
Additions	21,950	29,264	47,000	98,214
Disposals	-	-	-	-
At 31 January 2026	141,509	248,094	47,000	436,603
Depreciation
At 01 February 2025	116,757	176,454	-	293,211
Charge for year	4,997	17,910	11,750	34,657
On disposals	-	-	-	-
At 31 January 2026	121,754	194,364	11,750	327,868
Net book values
Closing balance as at 31 January 2026	19,755	53,730	35,250	108,735
Opening balance as at 01 February 2025	2,802	42,376	-	45,178

Stocks

	2026 £		2025 £
Stocks	80,000		88,915
	80,000		88,915

Debtors: amounts falling due within one year

	2026 £	2025 £
Trade Debtors	184,241	164,650
Prepayments & Accrued Income	8,418	7,690
	192,659	172,340

Creditors: amount falling due within one year

	2026 £	2025 £
Trade Creditors	100,229	50,210
Corporation Tax	23,523	52,888
PAYE & Social Security	10,983	3,808
Accrued Expenses	3,340	3,340
Other Creditors	786	770
Directors' Current Accounts	122	515
VAT	11,862	23,053
	150,845	134,584

Provisions for liabilities

	2026 £		2025 £
Deferred Tax	20,007		10,594
	20,007		10,594

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value - income/(expenses)				Balance owed by/(owed to)
	2026 £		2025 £		2026 £		2025 £
Patricia Hails	-		-		(122)		(515)

An amount is due to the director on an interest free basis Sales of assets have taken place from the directors totalling £35,000, based on market value


Registered Number: 05677364
England and Wales
Unaudited Financial Statements
for the year ended 31 January 2026
for
RICHARD HAILS ENGINEERING LIMITED