Registered number
01227766
Harlyn Enterprises Limited
Filleted Accounts
31 December 2023
Harlyn Enterprises Limited
Registered number: 01227766
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 567,616 476,509
567,616 476,509
Current assets
Stocks 76,248 90,383
Work in progress 19,013 32,386
Debtors 4 126,189 511,593
Cash at bank and in hand 2,565,858 1,743,033
2,787,308 2,377,395
Creditors: amounts falling due within one year 5 (814,373) (968,140)
Net current assets 1,972,935 1,409,255
Total assets less current liabilities 2,540,551 1,885,764
Creditors: amounts falling due after more than one year 6 (379,052) (23,996)
Provisions for liabilities (141,901) (90,395)
Net assets 2,019,598 1,771,373
Capital and reserves
Called up share capital 102 102
Profit and loss account 2,019,496 1,771,271
Shareholders' funds 2,019,598 1,771,373
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J G Leach
Director
Approved by the board on 27 March 2024
Harlyn Enterprises Limited
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Land and buildings 25% straight line
Plant & machinery 10-20% straight line
Office furniture & equipment 10- 25% straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 22 22
3 Tangible fixed assets
Land and buildings Plant and machinery etc Office equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 January 2023 30,075 28,085 84,806 1,231,944 1,374,910
Additions - - - 338,952 338,952
Disposals - - - (321,152) (321,152)
At 31 December 2023 30,075 28,085 84,806 1,249,744 1,392,710
Depreciation
At 1 January 2023 29,344 23,372 76,011 769,674 898,401
Charge for the year 731 1,262 4,377 195,700 202,070
On disposals - - - (275,377) (275,377)
At 31 December 2023 30,075 24,634 80,388 689,997 825,094
Net book value
At 31 December 2023 - 3,451 4,418 559,747 567,616
At 31 December 2022 731 4,713 8,795 462,270 476,509
4 Debtors 2023 2022
£ £
Trade debtors 21,166 418,894
Other debtors 105,023 92,699
126,189 511,593
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 23,996 27,889
Trade creditors 121,175 142,975
Corporation tax 109,381 136,331
Taxation and social security costs 50,456 57,578
Directors loans 29,979 29,979
Other creditors 479,386 573,388
814,373 968,140
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 23,996
Other creditors 379,052 -
379,052 23,996
7 Events after the reporting date
There are no events occurring after the reporting date of any significance or materiality that effect these accounts.
8 Pension commitments
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
9 Contingent liabilities
There are no known contingent liabilities not provided for in these accounts.
10 Off-balance sheet arrangements
There are no known off-balance sheet arrangements entered into by the company or its directors.
11 Related party transactions
During the year the company loaned to the directors monies interest free and repayable on demand amounting to £29,979 which is outstanding at the balance sheet date. The balance will be fully repaid within 9 months of the end of the accounting period. Total Dividends of £152,000 were paid during the year.
12 Controlling party
The controlling party is Mr J G Leach by virtue of his ownership of 51% of the issued share capital.
13 Other information
Harlyn Enterprises Limited is a private company limited by shares and incorporated in England. Its registered office is:
Glendale
Station Road
Blisworth
Northamptonshire
NN7 3DS
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