Registered number: 02295935
PAUL HARDING LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2023
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01483 755 399
hamlyns.com
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PAUL HARDING LIMITED
COMPANY INFORMATION
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PAUL HARDING LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS O FPAUL HARDING LIMITED
FOR THE YEAR ENDED 28 FEBRUARY 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paul Harding Limited for the year ended 28 February 2023 which comprise the balance sheet, the statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given to us.
As a 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 at http://www.icaew.com /en/membership/
regulations-standards-and-guidance.
This report is made solely to the board of directors of Paul Harding Limited, as a body, in accordance with the terms of our engagement at hamlyns.com/tac. Our work has been undertaken solely to prepare for your approval the financial statements of Paul Harding Limited and state those matters that we have agreed to state to the board of directors of Paul Harding Limited, as a body, in this report in accordance with ICAEW Technical release TECH07/16AAF . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul Harding Limited and its board of directors, as a body, for our work or for this report.
It is your duty to ensure that Paul Harding Limited 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 loss of Paul Harding Limited. You consider that Paul Harding Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Paul Harding Limited. 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.
Hamlyns Limited
Chartered Accountants
Sundial House
High Street
Horsell
WOKING
GU21 4SU
13 October 2023
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PAUL HARDING LIMITED
REGISTERED NUMBER: 02295935
BALANCE SHEET
AS AT 28 FEBRUARY 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Provisions for liabilities
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Page 2
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PAUL HARDING LIMITED
REGISTERED NUMBER: 02295935
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
___________________________
P M Harding
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The notes on pages 5 to 9 form part of these financial statements.
Page 3
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PAUL HARDING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2023
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Comprehensive income for the year
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Transfer between other reserves
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Transfer between other reserves
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Total transactions with owners
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Comprehensive income for the year
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Transfer between other reserves
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Transfer between other reserves
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Total transactions with owners
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The notes on pages 5 to 9 form part of these financial statements.
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Page 4
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PAUL HARDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
Paul Harding Limited is a private company limited by shares and incorporated in England. Its registered office and company number can be found on the company information page.
2.Accounting policies
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets, 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). The accounts have been prepared on the going concern basis.
Turnover represents the fair value of the amounts recievable in respect of the letting of freehold properties.
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. Deffered 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 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.
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at each balance shet date by the directors at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Page 5
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PAUL HARDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The estimated useful lives range as follows:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, its is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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The average monthly number of employees, including directors, during the year was 3 (2022 - 2).
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Page 6
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PAUL HARDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
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Charge for the year on owned assets
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Investments in subsidiary companies
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Page 7
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PAUL HARDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
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Freehold investment property
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Annual revaluation surplus/(deficit):
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Annual revaluation surplus/(deficit):
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Page 8
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PAUL HARDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Page 9
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