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Hardings Estate Agency Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

Registration number: 02640060

 

Hardings Estate Agency Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Hardings Estate Agency Limited

(Registration number: 02640060)
Statement of financial position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

93,331

97,983

Other financial assets

-

8,000

 

93,331

105,983

Current assets

 

Debtors

5

195,606

271,592

Cash at bank and in hand

 

30,814

71,572

 

226,420

343,164

Creditors: Amounts falling due within one year

6

(61,290)

(142,933)

Net current assets

 

165,130

200,231

Total assets less current liabilities

 

258,461

306,214

Provisions for liabilities

(3,489)

(3,536)

Net assets

 

254,972

302,678

Capital and reserves

 

Called up share capital

89

89

Capital redemption reserve

10

10

Retained earnings

254,873

302,579

Shareholders' funds

 

254,972

302,678

For the financial year ending 31 December 2023 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 Income statement.

Approved and authorised by the director on 1 May 2024
 

.........................................
Mr M Cooper
Director

 

Hardings Estate Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the director on 1 May 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.

 

Hardings Estate Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

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 statement of financial position 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

Plant and Machinery

25% reducing balance

Furniture and fittings

25% reducing balance

Computer equipment

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.

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.

 

Hardings Estate Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2022 - 10).

4

Tangible assets

Property improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

79,375

127,411

206,786

At 31 December 2023

79,375

127,411

206,786

Depreciation

At 1 January 2023

-

108,803

108,803

Charge for the year

-

4,652

4,652

At 31 December 2023

-

113,455

113,455

Carrying amount

At 31 December 2023

79,375

13,956

93,331

At 31 December 2022

79,375

18,608

97,983

 

Hardings Estate Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

-

69,589

Amounts owed by related parties

164,352

182,716

Prepayments

 

14,330

17,222

Other debtors

 

16,924

2,065

   

195,606

271,592

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

83,347

Taxation and social security

48,040

49,114

Accruals and deferred income

13,250

10,472

61,290

142,933

7

Parent and ultimate parent undertaking

The company's immediate parent is Coopers Lettings Middlesex Ltd, incorporated in England.

 The ultimate parent is Coopers Lettings Limited, incorporated in England.