Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity910truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01913527 2022-04-01 2023-03-31 01913527 2021-04-01 2022-03-31 01913527 2023-03-31 01913527 2022-03-31 01913527 c:Director1 2022-04-01 2023-03-31 01913527 d:Buildings 2022-04-01 2023-03-31 01913527 d:Buildings 2023-03-31 01913527 d:Buildings 2022-03-31 01913527 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01913527 d:MotorVehicles 2022-04-01 2023-03-31 01913527 d:MotorVehicles 2023-03-31 01913527 d:MotorVehicles 2022-03-31 01913527 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01913527 d:OfficeEquipment 2022-04-01 2023-03-31 01913527 d:OfficeEquipment 2023-03-31 01913527 d:OfficeEquipment 2022-03-31 01913527 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01913527 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01913527 d:CurrentFinancialInstruments 2023-03-31 01913527 d:CurrentFinancialInstruments 2022-03-31 01913527 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01913527 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01913527 d:ShareCapital 2023-03-31 01913527 d:ShareCapital 2022-03-31 01913527 d:RetainedEarningsAccumulatedLosses 2023-03-31 01913527 d:RetainedEarningsAccumulatedLosses 2022-03-31 01913527 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 01913527 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 01913527 c:FRS102 2022-04-01 2023-03-31 01913527 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01913527 c:FullAccounts 2022-04-01 2023-03-31 01913527 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01913527 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 01913527










HARDACRE & MALTPRESS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
HARDACRE & MALTPRESS LIMITED
REGISTERED NUMBER: 01913527

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,907
8,615

  
5,907
8,615

Current assets
  

Stocks
  
4,675
24,150

Debtors: amounts falling due within one year
 5 
537,970
542,389

Cash at bank and in hand
 6 
74,708
38,392

  
617,353
604,931

Creditors: amounts falling due within one year
 7 
(156,508)
(161,199)

Net current assets
  
 
 
460,845
 
 
443,732

Total assets less current liabilities
  
466,752
452,347

Provisions for liabilities
  

Deferred tax
  
-
(245)

  
 
 
-
 
 
(245)

Net assets
  
466,752
452,102


Capital and reserves
  

Called up share capital 
  
12,975
12,975

Profit and loss account
  
453,777
439,127

  
466,752
452,102


Page 1

 
HARDACRE & MALTPRESS LIMITED
REGISTERED NUMBER: 01913527
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 statement of income and retained earnings 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 on 10 November 2023.






N. M. McKeown
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HARDACRE & MALTPRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Hardacre & Maltpress Limited is a private limited company, limited by shares, incorporated in England and Wales. It's registered office is 48 Fernhill Road, Bootle, Liverpool, L20 9EA. The company number is 01913527.
The principal activity of the company is electrical contractors.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentational currency is GBP.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has cash resources and has no requirement for external funding. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in 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 that 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.

 
2.4

Tangible fixed assets

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 3

 
HARDACRE & MALTPRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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 and reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
10%
straight line
Motor vehicles
-
33%
reducing balance
Office equipment
-
25%
reducing balance

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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
HARDACRE & MALTPRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.10

Creditors

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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
HARDACRE & MALTPRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.15

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 10).

Page 6

 
HARDACRE & MALTPRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
30,588
60,704
9,769
101,061



At 31 March 2023

30,588
60,704
9,769
101,061



Depreciation


At 1 April 2022
30,588
54,053
7,805
92,446


Charge for the year on owned assets
-
2,217
491
2,708



At 31 March 2023

30,588
56,270
8,296
95,154



Net book value



At 31 March 2023
-
4,434
1,473
5,907



At 31 March 2022
-
6,651
1,964
8,615


5.


Debtors

2023
2022
£
£


Trade debtors
182,789
171,139

Amounts owed by group undertakings
334,473
334,473

Prepayments and accrued income
20,708
36,777

537,970
542,389



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
74,708
38,392

74,708
38,392


Page 7

 
HARDACRE & MALTPRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
75,657
53,577

Corporation tax
20,155
4,111

Other taxation and social security
55,595
94,168

Accruals and deferred income
5,101
9,343

156,508
161,199



8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
74,708
38,392




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund


10.


Controlling party

The company a 100% subsidiary of Hardacre & Maltpress Holdings Limited, a company registered in England and Wales.
The ultimate controlling party is N. M. McKeown and R. G. Mundy.

 
Page 8