JRH Harvey & Co Ltd NI053429 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is the manufacture of concrete products. Digita Accounts Production Advanced 6.30.9574.0 true NI053429 2023-03-01 2024-02-29 NI053429 2024-02-29 NI053429 bus:Director1 1 2024-02-29 NI053429 bus:Director2 1 2024-02-29 NI053429 core:CurrentFinancialInstruments 2024-02-29 NI053429 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 NI053429 core:Non-currentFinancialInstruments 2024-02-29 NI053429 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 NI053429 core:LandBuildings core:LongLeaseholdAssets 2024-02-29 NI053429 core:OfficeEquipment 2024-02-29 NI053429 core:PlantMachinery 2024-02-29 NI053429 bus:SmallEntities 2023-03-01 2024-02-29 NI053429 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 NI053429 bus:FullAccounts 2023-03-01 2024-02-29 NI053429 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI053429 bus:RegisteredOffice 2023-03-01 2024-02-29 NI053429 bus:Director1 2023-03-01 2024-02-29 NI053429 bus:Director1 1 2023-03-01 2024-02-29 NI053429 bus:Director2 2023-03-01 2024-02-29 NI053429 bus:Director2 1 2023-03-01 2024-02-29 NI053429 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI053429 core:Buildings 2023-03-01 2024-02-29 NI053429 core:LandBuildings core:LongLeaseholdAssets 2023-03-01 2024-02-29 NI053429 core:OfficeEquipment 2023-03-01 2024-02-29 NI053429 core:PlantMachinery 2023-03-01 2024-02-29 NI053429 countries:NorthernIreland 2023-03-01 2024-02-29 NI053429 2023-02-28 NI053429 bus:Director1 1 2023-02-28 NI053429 bus:Director2 1 2023-02-28 NI053429 core:LandBuildings core:LongLeaseholdAssets 2023-02-28 NI053429 core:OfficeEquipment 2023-02-28 NI053429 core:PlantMachinery 2023-02-28 NI053429 2022-03-01 2023-02-28 NI053429 2023-02-28 NI053429 core:CurrentFinancialInstruments 2023-02-28 NI053429 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 NI053429 core:Non-currentFinancialInstruments 2023-02-28 NI053429 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 NI053429 core:LandBuildings core:LongLeaseholdAssets 2023-02-28 NI053429 core:OfficeEquipment 2023-02-28 NI053429 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure

Registration number: NI053429

JRH Harvey & Co Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

JRH Harvey & Co Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

JRH Harvey & Co Ltd

(Registration number: NI053429)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

49,142

51,168

Current assets

 

Stocks

92,625

93,364

Debtors

5

62,829

53,511

Cash at bank and in hand

 

65,907

101,662

 

221,361

248,537

Creditors: Amounts falling due within one year

6

(141,564)

(150,336)

Net current assets

 

79,797

98,201

Total assets less current liabilities

 

128,939

149,369

Creditors: Amounts falling due after more than one year

6

(21,469)

(31,689)

Provisions for liabilities

(7,344)

(7,735)

Net assets

 

100,126

109,945

Capital and reserves

 

Called up share capital

7

10,000

10,000

Retained earnings

90,126

99,945

Shareholders' funds

 

100,126

109,945

For the financial year ending 29 February 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

 

JRH Harvey & Co Ltd

(Registration number: NI053429)
Balance Sheet as at 29 February 2024

.........................................
Jacqueline Pickering
Director

 

JRH Harvey & Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The Company Registration Number is: NI053429

The address of its registered office is:
45 Clogher Road
Hillsborough
BT26 6PJ
Northern Ireland

The presentation currency is £ Sterling.
The level of rounding is to the nearest £.

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.

The presentational currency is sterling which is the functional currency and rounded to the nearest £.

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.

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.

 

JRH Harvey & Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have
been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Tangible assets

Tangible assets are stated in the balance sheet 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

Buildings

5% Straight Line

Plant and Machinery

15% Reducing Balance

Office Equipment

20% Straight Line

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.

 

JRH Harvey & Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

JRH Harvey & Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 5).

4

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

30,773

273,209

739

304,721

Additions

-

6,075

-

6,075

At 29 February 2024

30,773

279,284

739

310,796

Depreciation

At 1 March 2023

18,747

234,658

148

253,553

Charge for the year

1,538

6,415

148

8,101

At 29 February 2024

20,285

241,073

296

261,654

Carrying amount

At 29 February 2024

10,488

38,211

443

49,142

At 28 February 2023

12,026

38,551

591

51,168

Included within the net book value of land and buildings above is £10,488 (2023 - £12,026) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

62,829

53,511

 

JRH Harvey & Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

9,847

9,534

Trade creditors

 

26,669

17,549

Taxation and social security

 

10,263

12,224

Accruals and deferred income

 

2,367

3,884

Other creditors

 

92,418

107,145

 

141,564

150,336

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

21,469

31,689

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

10,000

10,000

10,000

10,000

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

21,469

31,689

2024
£

2023
£

Current loans and borrowings

Bank borrowings

9,847

9,534

 

JRH Harvey & Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

9

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Jacqueline Pickering

(8,063)

18,614

(11,251)

(700)

         
       

Marc Pickering

(8,063)

18,614

(11,251)

(700)