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REGISTERED NUMBER: 05761734 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HARARD DEVELOPMENTS (PENISTONE) LTD

HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARARD DEVELOPMENTS (PENISTONE) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr P R Herbert
Mr R G Wadsworth



REGISTERED OFFICE: 201 High Street
Ecclesfield
Sheffield
South Yorkshire
S35 9XB



REGISTERED NUMBER: 05761734 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: Yorkshire Bank Plc
Fargate
Sheffield
South Yorkshire
S1 1LL

HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Stocks 671,190 661,478
Debtors 4 300 174
Cash at bank 999 2,735
672,489 664,387
CREDITORS
Amounts falling due within one year 5 1,342,657 1,218,511
NET CURRENT LIABILITIES (670,168 ) (554,124 )
TOTAL ASSETS LESS CURRENT LIABILITIES (670,168 ) (554,124 )

CAPITAL AND RESERVES
Called up share capital 6 300 300
Retained earnings (670,468 ) (554,424 )
SHAREHOLDERS' FUNDS (670,168 ) (554,124 )

HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 30 July 2024 and were signed on its behalf by:





Mr R G Wadsworth - Director


HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Harard Developments (Penistone) 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

During the year, the company generated a net loss of £116,044 (2023 - £75,043) and had net current liabilities of £670,168 (2023 - £670,168).

The directors and related party creditors have given an undertaking to support the company until it returns to a net assets position, as a result the financial statements have been prepared on a going concern basis.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Stocks
Stock comprises land and properties held for development and resale. Stocks are valued at the lower of cost and net realisable value.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
VAT 300 174

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 572 130
Other creditors 810,718 826,938
Directors' current accounts 80,350 80,350
Accruals and deferred income 451,017 311,093
1,342,657 1,218,511

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
300 Ordinary £1 300 300

7. RELATED PARTY DISCLOSURES

During the year the directors' accrued interest payable on their loan account balances totalling £10,636 (2023 - £6,879). Interest is accrued at a rate of 4% above the Bank of England base rate.

31.3.24 31.3.23
£ £
Net loans received from related parties 9,000 10,000
Interest accrued on loans 104,067 66,823
Invoices paid on behalf of related parties - -
Amount due to related parties 810,718 801,718

Interest is accrued on other related party loans at a rate of 4% above the Bank of England base rate.