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Registration number: 00828285

L. Harvey & Son Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

L. Harvey & Son Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

L. Harvey & Son Limited

Company Information

Directors

A J Kinehan

R Ellerby

P Jackson

Company secretary

G L Harvey

Registered office

Unit 4 Le Flaive Business Park
Church Lane
High Wycombe
Buckinghamshire
HP14 4US

Accountants

Barrys Accountants Limited
Chartered Certified Accountants
35A Hazlemere Road
Penn
High Wycombe
Buckinghamshire
HP10 8AD

 

L. Harvey & Son Limited

(Registration number: 00828285)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

20,071

23,713

Current assets

 

Stocks

5

2,970

3,369

Debtors

6

2,593,900

2,307,997

Cash at bank and in hand

 

259,620

88,889

 

2,856,490

2,400,255

Creditors: Amounts falling due within one year

7

(1,895,507)

(1,732,848)

Net current assets

 

960,983

667,407

Total assets less current liabilities

 

981,054

691,120

Creditors: Amounts falling due after more than one year

7

(131,945)

-

Provisions for liabilities

(4,151)

(4,095)

Net assets

 

844,958

687,025

Capital and reserves

 

Called up share capital

8

600

600

Retained earnings

844,358

686,425

Shareholders' funds

 

844,958

687,025

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

 

L. Harvey & Son Limited

(Registration number: 00828285)
Balance Sheet as at 30 November 2023

.........................................
R Ellerby
Director

 

L. Harvey & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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:
Unit 4 Le Flaive Business Park
Church Lane
High Wycombe
Buckinghamshire
HP14 4US
UK

These financial statements were authorised for issue by the Board on 31 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.

Contract revenue recognition

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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.

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.

 

L. Harvey & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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

Fixtures and fittings

straight line over 4 years

Motor vehicles

25% on reducing balance basis

Office equipment

straight line over 3 years

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 55 (2022 - 53).

 

L. Harvey & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

165,196

68,834

234,030

Additions

8,152

-

8,152

At 30 November 2023

173,348

68,834

242,182

Depreciation

At 1 December 2022

155,017

55,300

210,317

Charge for the year

8,410

3,384

11,794

At 30 November 2023

163,427

58,684

222,111

Carrying amount

At 30 November 2023

9,921

10,150

20,071

At 30 November 2022

10,179

13,534

23,713

5

Stocks

2023
£

2022
£

Other inventories

2,970

3,369

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

2,529,382

2,153,842

Amounts owed by related parties

12

7,268

86,373

Prepayments

 

37,392

33,478

Other debtors

 

19,858

34,304

   

2,593,900

2,307,997

 

L. Harvey & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

83,333

217,500

Trade creditors

 

1,397,531

1,286,525

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

152,609

-

Taxation and social security

 

101,605

127,258

Accruals and deferred income

 

35,914

18,309

Other creditors

 

124,515

83,256

 

1,895,507

1,732,848

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

131,945

-

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

600

600

600

600

       
 

L. Harvey & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

131,945

-

Current loans and borrowings

2023
£

2022
£

Bank borrowings

83,333

-

Bank overdrafts

-

217,500

83,333

217,500

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

53,812

70,694

Later than one year and not later than five years

29,595

72,096

83,407

142,790

The amount of non-cancellable operating lease payments recognised as an expense during the year was £108,959 (2022 - £91,336).

11

Dividends

2023

2022

£

£

Interim dividend of £317 (2022 - £353) per ordinary share

190,232

211,582

 

 
 

L. Harvey & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

12

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

242,434

241,200

Contributions paid to money purchase schemes

22,567

3,956

265,001

245,156

Summary of transactions with parent

L Harvey & Son Group Limited
 Dividends paid
 

Summary of transactions with entities with joint control or significant interest

Fellow subsidiary companies
 

Income and receivables from related parties

2023

Entities with joint control or significant influence
£

Receipt of services

50,906

2022

Entities with joint control or significant influence
£

Receipt of services

25,882

Expenditure with and payables to related parties

2023

Parent
£

Entities with joint control or significant influence
£

Rendering of services

-

915,450

Amounts payable to related party

190,232

-

 

L. Harvey & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2022

Parent
£

Entities with joint control or significant influence
£

Rendering of services

-

378,690

Amounts payable to related party

211,582

-

Loans to related parties

2023

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

26,199

60,174

86,373

Repaid

(18,931)

(60,174)

(79,105)

At end of period

7,268

-

7,268

2022

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

8,119

109,791

117,910

Advanced

18,080

-

18,080

Repaid

-

(49,617)

(49,617)

At end of period

26,199

60,174

86,373

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

Advanced

152,610

152,610

At end of period

152,610

152,610

13

Parent and ultimate parent undertaking

The company's immediate parent is L Harvey & Son Group Limited, incorporated in England & Wales.

 The most senior parent entity producing publicly available financial statements is L Harvey & Son Group Limited. These financial statements are available upon request from Unit 4 Le Flaive Business Centre, Naphill, Bucks, HP14 4US


 The ultimate controlling party is G L Harvey.