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REGISTERED NUMBER: 01171490 (England and Wales)















HARRISON-VERITY PRODUCTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023






HARRISON-VERITY PRODUCTS LIMITED (REGISTERED NUMBER: 01171490)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


HARRISON-VERITY PRODUCTS LIMITED (REGISTERED NUMBER: 01171490)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 4 33,607 40,615

Current assets
Stocks 154,733 159,009
Debtors 5 165,041 184,155
Cash at bank and in hand 11,524 7,189
331,298 350,353
Creditors
Amounts falling due within one year 6 (300,533 ) (351,414 )
Net current assets/(liabilities) 30,765 (1,061 )
Total assets less current liabilities 64,372 39,554

Creditors
Amounts falling due after more than one
year

7

(55,572

)

(40,981

)

Provisions for liabilities (4,616 ) (3,914 )
Net assets/(liabilities) 4,184 (5,341 )

Capital and reserves
Called up share capital 629 629
Retained earnings 3,555 (5,970 )
4,184 (5,341 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HARRISON-VERITY PRODUCTS LIMITED (REGISTERED NUMBER: 01171490)

BALANCE SHEET - continued
31 AUGUST 2023


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 director and authorised for issue on 30 August 2024 and were signed by:





Mr Amman Patel - Director


HARRISON-VERITY PRODUCTS LIMITED (REGISTERED NUMBER: 01171490)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. Statutory information

Harrison-Verity Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01171490

Registered office: 1st Floor, Unit 10 A, Griffin Mill
Stancliffe Street
Blackburn
BB2 2QU

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HARRISON-VERITY PRODUCTS LIMITED (REGISTERED NUMBER: 01171490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 4 (2022 - 6 ) .

4. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 September 2022
and 31 August 2023 270,191 14,745 7,182 292,118
Depreciation
At 1 September 2022 238,581 5,760 7,162 251,503
Charge for year 4,742 2,246 20 7,008
At 31 August 2023 243,323 8,006 7,182 258,511
Net book value
At 31 August 2023 26,868 6,739 - 33,607
At 31 August 2022 31,610 8,985 20 40,615

HARRISON-VERITY PRODUCTS LIMITED (REGISTERED NUMBER: 01171490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 September 2022
and 31 August 2023 14,745
Depreciation
At 1 September 2022 5,760
Charge for year 2,246
At 31 August 2023 8,006
Net book value
At 31 August 2023 6,739
At 31 August 2022 8,985

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 112,345 125,769
Other debtors 52,696 58,386
165,041 184,155

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 14,223 5,556
Hire purchase contracts 3,747 6,536
Trade creditors 264,850 244,738
Amounts owed to group undertakings 94 94
Taxation and social security 7,268 1,051
Other creditors 10,351 93,439
300,533 351,414

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 55,572 37,501
Hire purchase contracts - 3,480
55,572 40,981

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,722 15,278