Haywards Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11734998 (England and Wales)

Unaudited Financial Statements

for the Period 19 December 2018 to 31 March 2020

for

HAYWARDS GROUP LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

D Hayward

Mrs G Hayward

Mrs A Cole

M L Cole

REGISTERED OFFICE:

11 Laura Place

Bath

BA2 4BL

REGISTERED NUMBER:

11734998 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Haywards Group Ltd for the period ended 31 March 2020 which comprise the

Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Haywards Group Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Haywards Group Ltd and state those matters that we have agreed to state to the Board of Directors of Haywards Group Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Haywards Group Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Haywards Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Haywards Group Ltd. You consider that Haywards Group Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Haywards Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

23 October 2020

FIXED ASSETS

Intangible assets

4

21,604

Tangible assets

5

866,031

887,635

CURRENT ASSETS

Stocks

3,000

Debtors

6

3,964

6,964

CREDITORS

Amounts falling due within one year

7

268,372

NET CURRENT LIABILITIES

(261,408

)

TOTAL ASSETS LESS CURRENT LIABILITIES

626,227

CREDITORS

Amounts falling due after more than one year

8

611,785

NET ASSETS

14,442

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

14,342

SHAREHOLDERS' FUNDS

14,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2020 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 23 October 2020 and were signed on its behalf by:

Mrs A Cole - Director

1.	STATUTORY INFORMATION

Haywards Group Ltd 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.

Turnover comprises revenue recognised by the company in respect of goods and services supplied

during the year, exclusive of Value Added Tax and trade discounts.

Turnover is recognised at the date at which the service is provided.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Straight line over 50 years

Improvements to property

-

Straight line over 15 years

Office Equipment

-

Straight line over 5 years

Fixtures and fittings

-

Straight line over 4 years

Land included within Freehold property is not depreciated. Depreciation is not currently being

recognised for Freehold Property on the basis that the residual value of the property is so high as to

make depreciation immaterial.

Government grants

Governments grants are recognised using the accruals model. The government grants are included

within other operating income in the period to which they relate. Where grants do not relate to a period

of time they are recognised when received.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of

financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there

is an enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the period 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 period 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

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 period was 14 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

27,005

At 31 March 2020

27,005

AMORTISATION

Charge for period

5,401

At 31 March 2020

5,401

NET BOOK VALUE

At 31 March 2020

21,604

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

Office

and

property

property

Equipment

fittings

Totals

£

£

£

£

£

COST

Additions

799,451

22,168

53,454

4,033

879,106

At 31 March 2020

799,451

22,168

53,454

4,033

879,106

DEPRECIATION

Charge for period

-

1,376

10,691

1,008

13,075

At 31 March 2020

-

1,376

10,691

1,008

13,075

NET BOOK VALUE

At 31 March 2020

799,451

20,792

42,763

3,025

866,031

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

809

Other debtors

3,155

3,964

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

34,569

Trade creditors

11,265

Taxation and social security

9,366

Other creditors

213,172

268,372

HSBC UK Bank PLC holds a fixed mortgage charge over the Freehold Property. The amount is

included within Bank loans.

HSBC UK Bank PLC provide an overdraft facility which is secured with a floating charge over all the

assets of the company.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

611,785

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

10.	PENSION COMMITMENTS

The company has defined contribution pension scheme for its employees. At the balance sheet date

the company owed £232 for pension contributions.

11.	CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

No significant judgements or key assumptions have had to be made by the directors in preparing these

financial statements.

12.	POST BALANCE SHEET EVENTS

Since the balance sheet date, the outbreak of Covid-19 and subsequent restrictions imposed led to the

company temporarily taking a break from trading. The company has taken advantage of all available

government aid in order to support the business and its employees through the crisis.

The directors are confident that the considerable uncertainty will not impact the company as a going

concern.