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REGISTERED NUMBER: 09117525 (England and Wales)










Financial Statements

for the Year Ended 30 April 2023

for

Harbrook Engineering Ltd

Harbrook Engineering Ltd (Registered number: 09117525)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harbrook Engineering Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTORS: M J Harper
Mrs G A Harper





SECRETARY:





REGISTERED OFFICE: Harbrook House
Wrexham Road
Burland
Nantwich
Cheshire
CW5 8ND





REGISTERED NUMBER: 09117525 (England and Wales)





ACCOUNTANTS: John Greenall & Co Limited
20 Crewe Road
Sandbach
Cheshire
CW11 4NE

Harbrook Engineering Ltd (Registered number: 09117525)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 112,500 122,500
Tangible assets 5 434,493 428,671
Investment property 6 498,266 463,254
1,045,259 1,014,425

CURRENT ASSETS
Stocks 271,000 227,000
Debtors 7 380,751 413,840
Cash at bank and in hand 5,635 220
657,386 641,060
CREDITORS
Amounts falling due within one year 8 935,024 1,003,016
NET CURRENT LIABILITIES (277,638 ) (361,956 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

767,621

652,469

CREDITORS
Amounts falling due after more than one
year

9

(184,481

)

(213,141

)

PROVISIONS FOR LIABILITIES (73,938 ) (70,707 )
NET ASSETS 509,202 368,621

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 508,202 367,621
SHAREHOLDERS' FUNDS 509,202 368,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Harbrook Engineering Ltd (Registered number: 09117525)

Balance Sheet - continued
30 April 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 24 October 2023 and were signed on its behalf by:




Mrs G A Harper - Director



M J Harper - Director


Harbrook Engineering Ltd (Registered number: 09117525)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Harbrook Engineering Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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.

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.


Harbrook Engineering Ltd (Registered number: 09117525)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 200,000
AMORTISATION
At 1 May 2022 77,500
Amortisation for year 10,000
At 30 April 2023 87,500
NET BOOK VALUE
At 30 April 2023 112,500
At 30 April 2022 122,500

Harbrook Engineering Ltd (Registered number: 09117525)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 772,480 11,639 136,239 22,839 943,197
Additions 12,070 720 93,974 1,720 108,484
Disposals (3,000 ) - (15,000 ) - (18,000 )
At 30 April 2023 781,550 12,359 215,213 24,559 1,033,681
DEPRECIATION
At 1 May 2022 407,149 6,776 82,796 17,805 514,526
Charge for year 56,160 837 35,668 2,251 94,916
Eliminated on disposal - - (10,254 ) - (10,254 )
At 30 April 2023 463,309 7,613 108,210 20,056 599,188
NET BOOK VALUE
At 30 April 2023 318,241 4,746 107,003 4,503 434,493
At 30 April 2022 365,331 4,863 53,443 5,034 428,671

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 463,254
Additions 35,012
At 30 April 2023 498,266
NET BOOK VALUE
At 30 April 2023 498,266
At 30 April 2022 463,254

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 327,085 365,258
Other debtors 53,666 48,582
380,751 413,840

Harbrook Engineering Ltd (Registered number: 09117525)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 79,380 58,597
Hire purchase contracts 25,404 32,402
Trade creditors 442,660 458,333
Taxation and social security 37,154 46,514
Other creditors 350,426 407,170
935,024 1,003,016

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 105,840 212,340
Hire purchase contracts 78,641 801
184,481 213,141

10. RELATED PARTY DISCLOSURES

M J Harper and Mrs G A Harper are both directors and shareholders in Waterjet Precision Limited. During the year, Harbrook Engineering Limited supplied services to Waterjet Precision Limited of £72000 (2022 £72000), and purchased services of £111500 (2022 £105000). At the year end, there was a net balance outstanding to Waterjet Precision Limited of £313800 (2022 £300650)