REGISTERED NUMBER: 05674304 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HAT SHUTTERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M I Holmshaw

L A Thompson

REGISTERED OFFICE:

400-402 Richmond Road

Sheffield

South Yorkshire

S13 8LZ

REGISTERED NUMBER:

05674304 (England and Wales)

ACCOUNTANTS:

Jones Francis Limited

400-402 Richmond Road

Sheffield

South Yorkshire

S13 8LZ

FIXED ASSETS

Tangible assets

4

31,156

16,774

CURRENT ASSETS

Stocks

16,655

16,395

Debtors

5

81,856

87,993

Cash at bank

17,916

52,307

116,427

156,695

CREDITORS

Amounts falling due within one year

6

65,042

92,422

NET CURRENT ASSETS

51,385

64,273

TOTAL ASSETS LESS CURRENT LIABILITIES

82,541

81,047

CREDITORS

Amounts falling due after more than one year

7

(2,121

)

(10,473

)

PROVISIONS FOR LIABILITIES

(7,789

)

(4,193

)

NET ASSETS

72,631

66,381

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

72,531

66,281

SHAREHOLDERS' FUNDS

72,631

66,381

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2025 and were signed on its behalf by:

L A Thompson - Director

1.	STATUTORY INFORMATION

Hat Shutters 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.

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.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

7,884

76,870

792

85,546

Additions

19,950

-

-

19,950

At 31 March 2025

27,834

76,870

792

105,496

DEPRECIATION

At 1 April 2024

7,110

60,916

746

68,772

Charge for year

1,535

3,987

46

5,568

At 31 March 2025

8,645

64,903

792

74,340

NET BOOK VALUE

At 31 March 2025

19,189

11,967

-

31,156

At 31 March 2024

774

15,954

46

16,774

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

Motor

vehicles

£

COST

At 1 April 2024

22,132

Transfer to ownership

(22,132

)

At 31 March 2025

-

DEPRECIATION

At 1 April 2024

13,487

Charge for year

2,161

Transfer to ownership

(15,648

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

8,645

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

81,574

87,842

Other debtors

282

151

81,856

87,993

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

8,352

8,146

Hire purchase contracts (see note 8)

-

4,210

Trade creditors

35,410

38,590

Taxation and social security

11,918

31,959

Other creditors

9,362

9,517

65,042

92,422

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

2,121

10,473

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

£

Gross obligations repayable:

Within one year

-

4,764

Finance charges repayable:

Within one year

-

554

Net obligations repayable:

Within one year

-

4,210

Non-cancellable

operating leases

31.3.25

31.3.24

£

£

Within one year

9,000

9,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

-

4,210

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £9,500 (2024 - £4,200) were paid to the directors .

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors' who hold 100% of the share capital.