1 December 2022 v2024.40.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP060261362022-12-012023-11-30060261362023-11-30060261362022-11-3006026136core:WithinOneYear2023-11-3006026136core:WithinOneYear2022-11-3006026136core:ShareCapital2023-11-3006026136core:ShareCapital2022-11-3006026136core:RetainedEarningsAccumulatedLosses2023-11-3006026136core:RetainedEarningsAccumulatedLosses2022-11-3006026136bus:Director12022-12-012023-11-3006026136bus:RegisteredOffice2022-12-012023-11-3006026136core:LandBuildings2022-12-012023-11-30060261362021-12-012022-11-3006026136core:LandBuildings2022-12-0106026136core:PlantMachinery2022-12-01060261362022-12-0106026136core:LandBuildings2023-11-3006026136core:PlantMachinery2023-11-3006026136core:LandBuildings2022-11-300602613612022-12-012023-11-3006026136countries:EnglandWales2022-12-012023-11-3006026136bus:AuditExemptWithAccountantsReport2022-12-012023-11-3006026136bus:PrivateLimitedCompanyLtd2022-12-012023-11-3006026136bus:SmallEntities2022-12-012023-11-3006026136bus:FullAccounts2022-12-012023-11-30
Company registration number:
06026136
Hargill Ltd
Unaudited Filleted Financial Statements for the year ended
30 November 2023
Hargill Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Hargill Ltd
Year ended
30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Hargill Ltd
for the year ended
30 November 2023
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Hargill Ltd
, as a body, in accordance with the terms of our engagement letter dated 1 February 2024. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Hargill Ltd
and state those matters that we have agreed to state to the Board of Directors of
Hargill Ltd
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Hargill Ltd
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Hargill Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Hargill Ltd
. You consider that
Hargill Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Hargill Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Fitton & Co
Chartered Certified Accountants
Callis Mill
Woodland View
Hebden Bridge
West Yorkshire
HX7 6PJ
United Kingdom
Date:
29 August 2024
Hargill Ltd
Statement of Financial Position
30 November 2023
20232022
Note££
Fixed assets    
Tangible assets 5
150,000
 
143,831
 
Current assets    
Debtors 6
19,000
 
19,000
 
Cash at bank and in hand
6,410
 
4,482
 
25,410
 
23,482
 
Creditors: amounts falling due within one year 7
(138,973
)
(138,781
)
Net current liabilities
(113,563
)
(115,299
)
Total assets less current liabilities 36,437   28,532  
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
35,437
 
27,532
 
Shareholders funds
36,437
 
28,532
 
For the 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
29 August 2024
, and are signed on behalf of the board by:
H Collins
Director
Company registration number:
06026136
Hargill Ltd
Notes to the Financial Statements
Year ended
30 November 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
24 Royd Crescent
,
Hebden Bridge
,
HX7 5PB
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The Financial Statements have been prepared on a going concern basis.

Consolidation

The entity has taken advantage of the option not to prepare consolidated
financial statements
contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The directors have reviewed the property valuation and consider the property now be valued at £150,000. To that end, on 30th November 2023, the value of the property has increased by £6,169 from it's previous value of £143,831. Prior to that the only revaluation of the property was in the Accounting period up to 30th November 2008, from it's initial cost of £131,500 to £143,831.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
0% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2022:
1
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost or valuation      
At
1 December 2022
143,831
 
410
 
144,241
 
Revaluations
6,169
  -  
6,169
 
At
30 November 2023
150,000
 
410
 
150,410
 
Depreciation      
At
1 December 2022
and
30 November 2023
-  
410
 
410
 
Carrying amount      
At
30 November 2023
150,000
  -  
150,000
 
At 30 November 2022
143,831
  -  
143,831
 

6 Debtors

20232022
££
Trade debtors
19,000
 
19,000
 

7 Creditors: amounts falling due within one year

20232022
££
Taxation and social security
13
 
13
 
Other creditors
138,960
 
138,768
 
138,973
 
138,781
 

8 Directors' advances, credit and guarantees

As at 30th November 2023 the Directors Loan has a credit balance of £138,360.00.