Company Registration No. 11550586 (England and Wales)
HARICO HOMES LIMITED
Unaudited accounts
for the year ended 30 September 2023
HARICO HOMES LIMITED
Unaudited accounts
Contents
HARICO HOMES LIMITED
Company Information
for the year ended 30 September 2023
Director
WAYNE DAVID HARRISON
Company Number
11550586 (England and Wales)
Registered Office
Sackville Place Business Centre
44-48 Magdalen Street
Norwich
Norfolk
NR3 1JU
United Kingdom
Accountants
ATF TAX CONSULTANCY LTD
Sackville Place
44-48 Magdalen Steet
Norwich
Norfolk
NR3 1JU
HARICO HOMES LIMITED
Statement of financial position
as at 30 September 2023
Tangible assets
84,849
531,105
Inventories
1,416,231
1,259,731
Cash at bank and in hand
127,743
175,080
Creditors: amounts falling due within one year
(224,148)
(257,718)
Net current assets
1,343,918
1,193,970
Total assets less current liabilities
1,428,767
1,725,075
Creditors: amounts falling due after more than one year
(1,141,102)
(1,115,592)
Provisions for liabilities
Deferred tax
(3,085)
(4,020)
Net assets
284,580
605,463
Called up share capital
10
10
Profit and loss account
284,570
605,453
Shareholders' funds
284,580
605,463
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 August 2024 and were signed on its behalf by
WAYNE DAVID HARRISON
Director
Company Registration No. 11550586
HARICO HOMES LIMITED
Notes to the Accounts
for the year ended 30 September 2023
HARICO HOMES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11550586. The registered office is Sackville Place Business Centre, 44-48 Magdalen Street, Norwich, Norfolk, NR3 1JU, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance
Motor vehicles
15% on reducing balance
Fixtures & fittings
25% on reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
HARICO HOMES LIMITED
Notes to the Accounts
for the year ended 30 September 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 October 2022
460,000
-
80,774
5,801
546,575
Additions
-
29,000
-
-
29,000
Disposals
(460,000)
-
-
-
(460,000)
At 30 September 2023
-
29,000
80,774
5,801
115,575
At 1 October 2022
-
-
12,116
3,354
15,470
Charge for the year
-
4,350
10,294
612
15,256
At 30 September 2023
-
4,350
22,410
3,966
30,726
At 30 September 2023
-
24,650
58,364
1,835
84,849
At 30 September 2022
460,000
-
68,658
2,447
531,105
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
79,350
40,855
Taxes and social security
102,187
167,177
Loans from directors
42,611
48,730
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
601,966
423,959
Obligations under finance leases and hire purchase contracts
76,612
61,609
Amounts owed to group undertakings and other participating interests
462,524
630,024
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).