Registered number
10508187
E.C.L. Hardman Limited
Unaudited Filleted Accounts
31 May 2023
E.C.L. Hardman Limited
Registered number: 10508187
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,551,533 1,550,706
Current assets
Debtors 4 9,086 10,666
Cash at bank and in hand 13,899 21,062
22,985 31,728
Creditors: amounts falling due within one year 5 (112,927) (151,245)
Net current liabilities (89,942) (119,517)
Total assets less current liabilities 1,461,591 1,431,189
Creditors: amounts falling due after more than one year 6 (1,352,507) (1,321,603)
Net assets 109,084 109,586
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 8 108,084 108,586
Shareholders' funds 109,084 109,586
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T.C. Hardman
Director
Approved by the board on 2 October 2023
E.C.L. Hardman Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment properties
Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Properties are valued using open market valuation on freehold basis, conducted annually by the Directors. Depreciation is not provided in respect of the investment properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs.  Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.  If an arrangement constitutes a financing transaction it is measured at the present value of future payments.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost/Valuation
At 1 June 2022 1,550,000 2,341 1,552,341
Additions 6,021 1,638 7,659
At 31 May 2023 1,556,021 3,979 1,560,000
Depreciation
At 1 June 2022 - 1,635 1,635
Charge for the year - 811 811
Deficit on revaluation 6,021 - 6,021
At 31 May 2023 6,021 2,446 8,467
Net book value
At 31 May 2023 1,550,000 1,533 1,551,533
At 31 May 2022 1,550,000 706 1,550,706
The investment property has been measured at fair value which is the open market value of the property. The fair value adjustment has been taken through the profit and loss account.
4 Debtors 2023 2022
£ £
Deferred tax asset 9,086 8,666
Other debtors - 2,000
9,086 10,666
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 11,448 11,447
Other creditors 101,479 139,798
112,927 151,245
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 729,104 729,104
Other creditors 623,403 592,499
1,352,507 1,321,603
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 729,104 729,104
Secured bank loans 729,104 729,104
Secured by a fixed charge over the properties and personal guarantees by the directors. The loans are interest only and repayable in 25 years time.
2023 2022
£ £
8 Profit and loss account
Non-Distributable profit and loss 59,209 64,086
Distributable profit and loss 48,875 44,500
108,084 108,586
9 Related party transactions
During the year the directors loaned the company funds amounting to £615,403 (2022-£592,499). Commercial rate of interest at 5% per annum was charged to the company on the long term loan of £550,000.
10 Other information
E.C.L. Hardman Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Willows
Chelford Road
Knutsford
Cheshire
WA16 8LY
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