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REGISTERED NUMBER: 03818274 (England and Wales)















Unaudited Financial Statements

for the Period 31 December 2021 to 29 June 2023

for

J Hare Diamond Drilling
(Hitchin) Limited

J Hare Diamond Drilling
(Hitchin) Limited (Registered number: 03818274)






Contents of the Financial Statements
for the Period 31 December 2021 to 29 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J Hare Diamond Drilling
(Hitchin) Limited

Company Information
for the Period 31 December 2021 to 29 June 2023







DIRECTORS: Mr J Hare
Mr J C J Hare





SECRETARY: Ms C Hare





REGISTERED OFFICE: 5 - 7 Wallace Way
Hitchin
Hertfordshire
SG4 0SE





REGISTERED NUMBER: 03818274 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

J Hare Diamond Drilling
(Hitchin) Limited (Registered number: 03818274)

Balance Sheet
29 June 2023

29.6.23 30.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 253,125 343,566

CURRENT ASSETS
Stocks 85,741 96,461
Debtors 5 736,085 742,681
Cash at bank and in hand 12,836 13,259
834,662 852,401
CREDITORS
Amounts falling due within one year 6 1,040,708 887,096
NET CURRENT LIABILITIES (206,046 ) (34,695 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,079

308,871

CREDITORS
Amounts falling due after more than one
year

7

(119,359

)

(239,801

)

PROVISIONS FOR LIABILITIES (25,812 ) (34,584 )
NET (LIABILITIES)/ASSETS (98,092 ) 34,486

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 10 10 10
Retained earnings 10 (98,202 ) 34,376
SHAREHOLDERS' FUNDS (98,092 ) 34,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 June 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.

J Hare Diamond Drilling
(Hitchin) Limited (Registered number: 03818274)

Balance Sheet - continued
29 June 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 20 November 2023 and were signed on its behalf by:





Mr J Hare - Director


J Hare Diamond Drilling
(Hitchin) Limited (Registered number: 03818274)

Notes to the Financial Statements
for the Period 31 December 2021 to 29 June 2023

1. STATUTORY INFORMATION

J Hare Diamond Drilling (Hitchin) 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. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 15% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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 period 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 period 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.

J Hare Diamond Drilling
(Hitchin) Limited (Registered number: 03818274)

Notes to the Financial Statements - continued
for the Period 31 December 2021 to 29 June 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 42 (2021 - 49 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 31 December 2021 24,065 726,482 37,565 212,747 1,000,859
Additions - - 571 1 572
Disposals - - (453 ) - (453 )
Transfer to ownership - (1 ) - - (1 )
At 29 June 2023 24,065 726,481 37,683 212,748 1,000,977
DEPRECIATION
At 31 December 2021 24,065 528,249 29,483 75,496 657,293
Charge for period - 41,942 1,859 47,075 90,876
Eliminated on disposal - - (317 ) - (317 )
At 29 June 2023 24,065 570,191 31,025 122,571 747,852
NET BOOK VALUE
At 29 June 2023 - 156,290 6,658 90,177 253,125
At 30 December 2021 - 198,233 8,082 137,251 343,566

J Hare Diamond Drilling
(Hitchin) Limited (Registered number: 03818274)

Notes to the Financial Statements - continued
for the Period 31 December 2021 to 29 June 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 31 December 2021 40,487 212,748 253,235
Transfer to ownership (40,487 ) - (40,487 )
At 29 June 2023 - 212,748 212,748
DEPRECIATION
At 31 December 2021 28,181 75,496 103,677
Charge for period - 47,075 47,075
Transfer to ownership (28,181 ) - (28,181 )
At 29 June 2023 - 122,571 122,571
NET BOOK VALUE
At 29 June 2023 - 90,177 90,177
At 30 December 2021 12,306 137,252 149,558

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.23 30.12.21
£    £   
Trade debtors 589,184 597,993
Other debtors 146,901 144,688
736,085 742,681

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.23 30.12.21
£    £   
Bank loans and overdrafts 197,673 217,726
Hire purchase contracts (see note 8) 47,475 33,016
Trade creditors 224,067 83,592
Taxation and social security 481,831 380,624
Other creditors 89,662 172,138
1,040,708 887,096

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.6.23 30.12.21
£    £   
Bank loans 81,188 159,133
Hire purchase contracts (see note 8) 38,171 80,668
119,359 239,801

J Hare Diamond Drilling
(Hitchin) Limited (Registered number: 03818274)

Notes to the Financial Statements - continued
for the Period 31 December 2021 to 29 June 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.6.23 30.12.21
£    £   
Net obligations repayable:
Within one year 47,475 33,016
Between one and five years 38,171 80,668
85,646 113,684

Non-cancellable operating leases
29.6.23 30.12.21
£    £   
Within one year 7,931 10,576
Between one and five years - 7,931
7,931 18,507

9. SECURED DEBTS

The following secured debts are included within creditors:

29.6.23 30.12.21
£    £   
Bank overdrafts 145,982 158,958
Bank loans 132,879 217,901
Hire purchase contracts 85,646 113,684
364,507 490,543

The facilities provided by the bank are secured by debentures.
The HP liabilities are secured on individual assets.

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 31 December 2021 34,376 10 34,386
Deficit for the period (132,578 ) (132,578 )
At 29 June 2023 (98,202 ) 10 (98,192 )

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors Mrs C Hare and Mr J Hare owe £40,443 and £44,560 respectively to the company.

J Hare Diamond Drilling
(Hitchin) Limited (Registered number: 03818274)

Notes to the Financial Statements - continued
for the Period 31 December 2021 to 29 June 2023

12. RELATED PARTY DISCLOSURES

During the year, the company incurred rental costs of £30,000 (2021: £30,000) for the use of premises owned by Mr J Hare and Mrs C Hare, directors.

13. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr J Hare.