N D Hardiman Haulage Limited 3035073 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is to carry on business as haulage contractor and gravel merchants Digita Accounts Production Advanced 6.30.9574.0 true true 3035073 2023-04-01 2024-03-31 3035073 2024-03-31 3035073 bus:OrdinaryShareClass1 2024-03-31 3035073 core:RetainedEarningsAccumulatedLosses 2024-03-31 3035073 core:ShareCapital 2024-03-31 3035073 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 3035073 core:CurrentFinancialInstruments 2024-03-31 3035073 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 3035073 core:Non-currentFinancialInstruments 2024-03-31 3035073 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 3035073 core:FurnitureFittingsToolsEquipment 2024-03-31 3035073 core:LandBuildings 2024-03-31 3035073 core:MotorVehicles 2024-03-31 3035073 core:OtherPropertyPlantEquipment 2024-03-31 3035073 bus:SmallEntities 2023-04-01 2024-03-31 3035073 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 3035073 bus:FilletedAccounts 2023-04-01 2024-03-31 3035073 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 3035073 bus:RegisteredOffice 2023-04-01 2024-03-31 3035073 bus:Director1 2023-04-01 2024-03-31 3035073 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 3035073 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 3035073 core:FurnitureFittings 2023-04-01 2024-03-31 3035073 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 3035073 core:LandBuildings 2023-04-01 2024-03-31 3035073 core:LeaseholdImprovements 2023-04-01 2024-03-31 3035073 core:MotorVehicles 2023-04-01 2024-03-31 3035073 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 3035073 core:PlantMachinery 2023-04-01 2024-03-31 3035073 countries:EnglandWales 2023-04-01 2024-03-31 3035073 2023-03-31 3035073 core:FurnitureFittingsToolsEquipment 2023-03-31 3035073 core:LandBuildings 2023-03-31 3035073 core:MotorVehicles 2023-03-31 3035073 core:OtherPropertyPlantEquipment 2023-03-31 3035073 2022-04-01 2023-03-31 3035073 2023-03-31 3035073 bus:OrdinaryShareClass1 2023-03-31 3035073 core:RetainedEarningsAccumulatedLosses 2023-03-31 3035073 core:ShareCapital 2023-03-31 3035073 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 3035073 core:CurrentFinancialInstruments 2023-03-31 3035073 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 3035073 core:Non-currentFinancialInstruments 2023-03-31 3035073 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 3035073 core:FurnitureFittingsToolsEquipment 2023-03-31 3035073 core:LandBuildings 2023-03-31 3035073 core:MotorVehicles 2023-03-31 3035073 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 3035073

N D Hardiman Haulage Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

N D Hardiman Haulage Limited

(Registration number: 3035073)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

169,091

228,423

Current assets

 

Stocks

5

34,000

38,962

Debtors

6

81,626

107,673

Cash at bank and in hand

 

95,494

62,063

 

211,120

208,698

Creditors: Amounts falling due within one year

7

(104,201)

(124,301)

Net current assets

 

106,919

84,397

Total assets less current liabilities

 

276,010

312,820

Creditors: Amounts falling due after more than one year

7

(16,130)

(26,001)

Provisions for liabilities

(40,736)

(55,569)

Net assets

 

219,144

231,250

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

218,144

230,250

Shareholders' funds

 

219,144

231,250

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 July 2024
 

.........................................

N D Hardiman

Director

 

N D Hardiman Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
19 Wincombe Business Park
Warminster Road
Shaftesbury
Dorset
SP7 9QJ

These financial statements were authorised for issue by the director on 24 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants are recognised when receivable except grants in relation to fixed assets which are credited to the profit
and loss account over the useful lives of the related assets.

Tax

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

 

N D Hardiman Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

None provided

Plant and machinery

20% straight line

Fixtures and fittings

20% straight line

Motor vehicles

20%-25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

N D Hardiman Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

N D Hardiman Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 7).

 

N D Hardiman Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

6,148

25,751

604,892

160,465

797,256

Disposals

-

-

(21,445)

-

(21,445)

At 31 March 2024

6,148

25,751

583,447

160,465

775,811

Depreciation

At 1 April 2023

-

20,644

394,855

153,334

568,833

Charge for the year

-

1,491

50,051

1,977

53,519

Eliminated on disposal

-

-

(15,632)

-

(15,632)

At 31 March 2024

-

22,135

429,274

155,311

606,720

Carrying amount

At 31 March 2024

6,148

3,616

154,173

5,154

169,091

At 31 March 2023

6,148

5,107

210,037

7,131

228,423

Included within the net book value of land and buildings above is £6,148 (2023 - £6,148) in respect of short leasehold land and buildings.
 

 

N D Hardiman Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

34,000

38,962

6

Debtors

Current

2024
£

2023
£

Trade debtors

81,626

105,059

Prepayments

-

2,614

 

81,626

107,673

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

9,630

42,703

Trade creditors

 

40,404

52,685

Taxation and social security

 

45,381

20,822

Accruals and deferred income

 

7,820

7,112

Other creditors

 

966

979

 

104,201

124,301


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £nil (2023 - £33,073). Bank loans of £9,630 (2023 - £9,630) are secured by a UK government backed guarantee.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

16,130

26,001


Creditors include bank loans of £16,130 (2023 - £26,001) which are secured by a UK government backed guarantee.

 

N D Hardiman Haulage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

16,130

26,001

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,630

9,630

Hire purchase contracts

-

33,073

9,630

42,703