HARDY'S HARDWARE & GENERAL STORE LTD

Company Registration Number:
NI605912 (Northern Ireland)

Unaudited statutory accounts for the year ended 28 February 2022

Period of accounts

Start date: 1 March 2021

End date: 28 February 2022

HARDY'S HARDWARE & GENERAL STORE LTD

Contents of the Financial Statements

for the Period Ended 28 February 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

HARDY'S HARDWARE & GENERAL STORE LTD

Directors' report period ended 28 February 2022

The directors present their report with the financial statements of the company for the period ended 28 February 2022

Additional information

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to smallcompanies.



Directors

The director shown below has held office during the whole of the period from
1 March 2021 to 28 February 2022

Mr W C Irwin


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
9 August 2022

And signed on behalf of the board by:
Name: Mr W C Irwin
Status: Director

HARDY'S HARDWARE & GENERAL STORE LTD

Profit And Loss Account

for the Period Ended 28 February 2022

2022 2021


£

£
Turnover: 669,911 596,410
Cost of sales: ( 408,198 ) ( 400,988 )
Gross profit(or loss): 261,713 195,422
Administrative expenses: ( 180,935 ) ( 149,516 )
Other operating income: 25,916 65,828
Operating profit(or loss): 106,694 111,734
Interest payable and similar charges: ( 618 ) ( 3,502 )
Profit(or loss) before tax: 106,076 108,232
Tax: ( 18,902 ) ( 20,564 )
Profit(or loss) for the financial year: 87,174 87,668

HARDY'S HARDWARE & GENERAL STORE LTD

Balance sheet

As at 28 February 2022

Notes 2022 2021


£

£
Fixed assets
Tangible assets: 3 21,725 2,364
Total fixed assets: 21,725 2,364
Current assets
Stocks: 4 355,012 232,805
Debtors: 5 2,953 4,283
Cash at bank and in hand: 7,719 41,032
Total current assets: 365,684 278,120
Creditors: amounts falling due within one year: 6 ( 161,861 ) ( 108,352 )
Net current assets (liabilities): 203,823 169,768
Total assets less current liabilities: 225,548 172,132
Creditors: amounts falling due after more than one year: 7 ( 42,305 ) ( 44,169 )
Provision for liabilities: ( 4,038 ) ( 232 )
Total net assets (liabilities): 179,205 127,731
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 179,105 127,631
Total Shareholders' funds: 179,205 127,731

The notes form part of these financial statements

HARDY'S HARDWARE & GENERAL STORE LTD

Balance sheet statements

For the year ending 28 February 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 9 August 2022
and signed on behalf of the board by:

Name: Mr W C Irwin
Status: Director

The notes form part of these financial statements

HARDY'S HARDWARE & GENERAL STORE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents net sale of goods excluding Value Added Tax.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Plant and machinery etc - 20% on reducing balance

    Intangible fixed assets amortisation policy

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

    Other accounting policies

    Government grantsThe company received a Small Business Rates Relief Grant of £10,000 and CJRS Grants of £11,558 during the COVID 19 pandemic.StocksStocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.TaxationTaxation 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 taxDeferred 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.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.

HARDY'S HARDWARE & GENERAL STORE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 12 11

HARDY'S HARDWARE & GENERAL STORE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2021 13,349 13,349
Additions 21,970 21,970
Disposals ( 1,000 ) ( 1,000 )
Revaluations
Transfers
At 28 February 2022 34,319 34,319
Depreciation
At 1 March 2021 10,985 10,985
Charge for year 2,609 2,609
On disposals ( 1,000 ) ( 1,000 )
Other adjustments
At 28 February 2022 12,594 12,594
Net book value
At 28 February 2022 21,725 21,725
At 28 February 2021 2,364 2,364

HARDY'S HARDWARE & GENERAL STORE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

4. Stocks

2022 2021
£ £
Stocks 355,012 232,805
Total 355,012 232,805

HARDY'S HARDWARE & GENERAL STORE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

5. Debtors

2022 2021
£ £
Trade debtors 1,081 1,584
Other debtors 1,872 2,699
Total 2,953 4,283

HARDY'S HARDWARE & GENERAL STORE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

6. Creditors: amounts falling due within one year note

2022 2021
£ £
Bank loans and overdrafts 10,000 5,831
Trade creditors 109,630 65,961
Taxation and social security 18,524 30,595
Other creditors 23,707 5,965
Total 161,861 108,352

HARDY'S HARDWARE & GENERAL STORE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

7. Creditors: amounts falling due after more than one year note

2022 2021
£ £
Bank loans and overdrafts 34,167 44,169
Other creditors 8,138
Total 42,305 44,169