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REGISTERED NUMBER: 04766374 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

HART'S HAULAGE LIMITED

HART'S HAULAGE LIMITED (REGISTERED NUMBER: 04766374)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HART'S HAULAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: R N Hart





SECRETARY: N Uren





REGISTERED OFFICE: Druids Road
Wilson Way
REDRUTH
Cornwall
TR15 3EQ





REGISTERED NUMBER: 04766374 (England and Wales)





ACCOUNTANTS: Lang Bennetts
The Old Carriage Works
Moresk Road
TRURO
Cornwall
TR1 1DG

HART'S HAULAGE LIMITED (REGISTERED NUMBER: 04766374)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,290,545 4,299,777
Investment property 6 121,301 121,301
4,411,846 4,421,078

CURRENT ASSETS
Stocks 750 750
Debtors 7 1,240,872 1,098,438
Cash at bank 3,412,096 2,897,829
4,653,718 3,997,017
CREDITORS
Amounts falling due within one year 8 480,409 605,873
NET CURRENT ASSETS 4,173,309 3,391,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,585,155

7,812,222

PROVISIONS FOR LIABILITIES 667,625 667,625
NET ASSETS 7,917,530 7,144,597

CAPITAL AND RESERVES
Called up share capital 1,002 1,002
Retained earnings 7,916,528 7,143,595
SHAREHOLDERS' FUNDS 7,917,530 7,144,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HART'S HAULAGE LIMITED (REGISTERED NUMBER: 04766374)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:





R N Hart - Director


HART'S HAULAGE LIMITED (REGISTERED NUMBER: 04766374)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Hart's Haulage 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be readily measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates Value Added Tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of revenue can be measured reliably; it is probable they the company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.


HART'S HAULAGE LIMITED (REGISTERED NUMBER: 04766374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 34 ) .

HART'S HAULAGE LIMITED (REGISTERED NUMBER: 04766374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 1,318,624 5,386,933 6,705,557
Additions 5,829 792,161 797,990
Disposals - (812,900 ) (812,900 )
At 28 February 2023 1,324,453 5,366,194 6,690,647
DEPRECIATION
At 1 March 2022 36,173 2,369,607 2,405,780
Charge for year 9,336 531,825 541,161
Eliminated on disposal - (546,839 ) (546,839 )
At 28 February 2023 45,509 2,354,593 2,400,102
NET BOOK VALUE
At 28 February 2023 1,278,944 3,011,601 4,290,545
At 28 February 2022 1,282,451 3,017,326 4,299,777

Included in cost of land and buildings is freehold land of £ 986,663 (2022 - £ 986,663 ) which is not depreciated.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 121,301
NET BOOK VALUE
At 28 February 2023 121,301
At 28 February 2022 121,301

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,023,646 1,083,953
Other debtors 45,309 -
Directors' current accounts 155,767 -
Prepayments 16,150 14,485
1,240,872 1,098,438

HART'S HAULAGE LIMITED (REGISTERED NUMBER: 04766374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 230,101 490,367
Tax 122,439 24,071
Social security and other taxes 15,351 19,777
VAT 90,161 47,742
Other creditors 16,827 16,827
Directors' current accounts - 1,849
Accrued expenses 5,530 5,240
480,409 605,873

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
R N Hart
Balance outstanding at start of year - -
Amounts advanced 155,767 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 155,767 -

At the year end, the director owed the company £155,767 (2022: £0). Interest has been charged on this loan at the official rate of 2% to 28 February 2023 and thereafter.

10. ULTIMATE CONTROLLING PARTY

The controlling party is R N Hart.