Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseNo description of principal activity87trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02701403 2023-01-01 2023-12-31 02701403 2022-01-01 2022-12-31 02701403 2023-12-31 02701403 2022-12-31 02701403 2022-01-01 02701403 c:Director1 2023-01-01 2023-12-31 02701403 d:PlantMachinery 2023-01-01 2023-12-31 02701403 d:PlantMachinery 2023-12-31 02701403 d:PlantMachinery 2022-12-31 02701403 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02701403 d:MotorVehicles 2023-01-01 2023-12-31 02701403 d:MotorVehicles 2023-12-31 02701403 d:MotorVehicles 2022-12-31 02701403 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02701403 d:FurnitureFittings 2023-01-01 2023-12-31 02701403 d:FurnitureFittings 2023-12-31 02701403 d:FurnitureFittings 2022-12-31 02701403 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02701403 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 02701403 d:OtherPropertyPlantEquipment 2023-12-31 02701403 d:OtherPropertyPlantEquipment 2022-12-31 02701403 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02701403 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02701403 d:Goodwill 2023-12-31 02701403 d:Goodwill 2022-12-31 02701403 d:CurrentFinancialInstruments 2023-12-31 02701403 d:CurrentFinancialInstruments 2022-12-31 02701403 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02701403 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02701403 d:ShareCapital 2023-12-31 02701403 d:ShareCapital 2022-12-31 02701403 d:ShareCapital 2022-01-01 02701403 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 02701403 d:RetainedEarningsAccumulatedLosses 2023-12-31 02701403 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 02701403 d:RetainedEarningsAccumulatedLosses 2022-12-31 02701403 d:RetainedEarningsAccumulatedLosses 2022-01-01 02701403 c:FRS102 2023-01-01 2023-12-31 02701403 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02701403 c:FullAccounts 2023-01-01 2023-12-31 02701403 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02701403 2 2023-01-01 2023-12-31 02701403 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02701403 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 02701403 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 02701403










FREEMAN AND HARDING LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FREEMAN AND HARDING LTD
REGISTERED NUMBER: 02701403

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
9,272
24,758

Current assets
  

Stocks
  
241,201
179,823

Debtors: amounts falling due within one year
 6 
36,041
35,630

Cash at bank and in hand
 7 
389,220
472,962

  
666,462
688,415

Creditors: amounts falling due within one year
 8 
(143,484)
(190,938)

Net current assets
  
 
 
522,978
 
 
497,477

Total assets less current liabilities
  
532,250
522,235

Provisions for liabilities
  

Deferred tax
 9 
(2,750)
(5,450)

Net assets
  
529,500
516,785


Capital and reserves
  

Called up share capital 
  
5,000
5,000

Profit and loss account
  
524,500
511,785

  
529,500
516,785


The director considers 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 director acknowledges her 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 comprehensive income 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 16 February 2024.




S J Harding
Director
Page 1

 
FREEMAN AND HARDING LTD
REGISTERED NUMBER: 02701403

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
FREEMAN AND HARDING LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
5,000
438,110
443,110


Comprehensive income for the year

Profit for the year
-
83,675
83,675


Contributions by and distributions to owners

Dividends: Equity capital
-
(10,000)
(10,000)



At 1 January 2023
5,000
511,785
516,785


Comprehensive income for the year

Profit for the year
-
22,715
22,715


Contributions by and distributions to owners

Dividends: Equity capital
-
(10,000)
(10,000)


At 31 December 2023
5,000
524,500
529,500


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
FREEMAN AND HARDING LTD
 

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

1.


GENERAL INFORMATION

Freeman & Harding Limited is a limited liability company incorporated and domiciled in the UK. The address of the registered office is shown in the company information. This is different to the principal place of business, which is Units 2 & 4 Manford Industrial Estate, Manor Road, Erith, DA8 2AJ.

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 following principal accounting policies have been applied:

 
2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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.

 
2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
FREEMAN AND HARDING LTD
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

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.

 
2.6

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.

 
2.7

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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 5

 
FREEMAN AND HARDING LTD
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.8
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
25%
reducing balance
Moulds
-
reducing balance over the life of the moulds

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 6

 
FREEMAN AND HARDING LTD
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 8 (2022 - 7).


4.


INTANGIBLE ASSETS




Goodwill

£



Cost


At 1 January 2023
1,000



At 31 December 2023

1,000



Amortisation


At 1 January 2023
1,000



At 31 December 2023

1,000



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 7

 
FREEMAN AND HARDING LTD
 

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

5.


TANGIBLE FIXED ASSETS





Plant & machinery
Motor vehicles
Fixtures & fittings
Moulds
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
31,292
13,290
20,287
167,053
231,922


Additions
-
-
568
-
568



At 31 December 2023

31,292
13,290
20,855
167,053
232,490



Depreciation


At 1 January 2023
27,131
13,197
18,783
148,053
207,164


Charge for the year on owned assets
1,025
23
506
14,500
16,054



At 31 December 2023

28,156
13,220
19,289
162,553
223,218



Net book value



At 31 December 2023
3,136
70
1,566
4,500
9,272



At 31 December 2022
4,161
93
1,504
19,000
24,758


6.


DEBTORS

2023
2022
£
£


Trade debtors
28,682
14,219

Other debtors
400
3,131

Prepayments and accrued income
6,959
18,280

36,041
35,630



7.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
389,220
472,962


Page 8

 
FREEMAN AND HARDING LTD
 

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

8.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
87,946
149,371

Corporation tax
8,267
21,469

Other taxation and social security
26,264
6,610

Other creditors
10,292
3,492

Accruals and deferred income
10,715
9,996

143,484
190,938



9.


DEFERRED TAXATION




2023


£






At beginning of year
(5,450)


Charged to profit or loss
2,700



At end of year
(2,750)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,750)
(5,450)


10.


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 and amounted to £77,979 (2022 - £3,066). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date.


Page 9