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REGISTERED NUMBER: 01973749 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

A C HARDING LIMITED

A C HARDING LIMITED (REGISTERED NUMBER: 01973749)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A C HARDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M M Jaggers
G D Bowman



SECRETARY: M M Jaggers



REGISTERED OFFICE: Vermont Crescent
Ipswich
Suffolk
IP4 2ST



REGISTERED NUMBER: 01973749 (England and Wales)



ACCOUNTANTS: Walter Wright
Chartered Accountants
89 High Street
Hadleigh
Ipswich
Suffolk
IP7 5EA



BANKERS: Barclays Bank Plc
1 Princes Street
Ipswich
Suffolk
IP1 1PH

A C HARDING LIMITED (REGISTERED NUMBER: 01973749)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,628 21,830

CURRENT ASSETS
Stocks 179,942 132,574
Debtors 5 90,505 53,059
Cash at bank and in hand 308,161 212,221
578,608 397,854
CREDITORS
Amounts falling due within one year 6 295,575 156,016
NET CURRENT ASSETS 283,033 241,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

299,661

263,668

CREDITORS
Amounts falling due after more than one
year

7

(22,500

)

(31,627

)

PROVISIONS FOR LIABILITIES (4,157 ) -
NET ASSETS 273,004 232,041

CAPITAL AND RESERVES
Called up share capital 10 10
Capital redemption reserve 990 990
Retained earnings 272,004 231,041
SHAREHOLDERS' FUNDS 273,004 232,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

A C HARDING LIMITED (REGISTERED NUMBER: 01973749)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





G D Bowman - Director


A C HARDING LIMITED (REGISTERED NUMBER: 01973749)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

A C Harding 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the sales of goods and services, is recognised on dispatch of the goods or provision of the service and excludes value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation 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 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.

A C HARDING LIMITED (REGISTERED NUMBER: 01973749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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 pension scheme providing benefits based on final pensionable pay. Further details are shown in the Defined Benefit Pension Scheme note. This scheme was paid up on 31 May 2005 and replaced by a defined contribution scheme.

The assets of both the defined contribution scheme and the defined benefit scheme are held separately from those of the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 80,291
Disposals (375 )
At 31 March 2023 79,916
DEPRECIATION
At 1 April 2022 58,461
Charge for year 5,052
Eliminated on disposal (225 )
At 31 March 2023 63,288
NET BOOK VALUE
At 31 March 2023 16,628
At 31 March 2022 21,830

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 68,575 32,351
Other debtors 21,930 20,708
90,505 53,059

A C HARDING LIMITED (REGISTERED NUMBER: 01973749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 35,366 34,508
Taxation and social security 71,612 21,097
Other creditors 178,597 90,411
295,575 156,016

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,500 31,627

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,657 9,335
Between one and five years - 3,657
3,657 12,992

9. DEFINED BENEFIT PENSION SCHEME

The assets of the scheme are held separately from those of the company, being invested with insurance companies. Contributions to the scheme are charged to the profit and loss account so as to spread the cost of pensions over employees' working lives with the company. The scheme was paid up on 31 May 2005.

At the date of the last completed valuation of the Fund (1 August 2022) the market value of the Fund's assets amounted to £1,386,383. The valuation was carried out by an independent qualified actuary on the projected unit method of valuation using the following main assumptions:


% per
annum

Rate of investment return (prior to retirement) 3.5
Rate of investment return (post retirement) 3.5
Rate of price inflation 3.1


Rate of pension increases: for accrued rights 1.7%

As at the valuation date these assets were sufficient, on the assumptions adopted, to meet 88% of the cost of the Fund's accrued liabilities. Additional contributions are being made to meet the shortfall.

No contributions were payable by the employees from 1 June 2005 onwards.

The total employer payments to the scheme during the period were £29,748 (2022 £21,450).

A C HARDING LIMITED (REGISTERED NUMBER: 01973749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. DEFINED CONTRIBUTION PENSION SCHEME

The company operates a defined contribution scheme from 1st June 2005, which replaced the defined benefit scheme which was paid up on 31 May 2005.
The assets of the scheme are held separately from those of the company. Contributions to the scheme are charged to the profit and loss account as they are incurred.
The total employer payments to the scheme during the period were £14,904 (2022 £14,904).