Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-12-310falsetrue02023-01-01The principal activity of the company in the year under review was that of residential property developers.trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11977957 2023-01-01 2023-12-31 11977957 2023-12-31 11977957 2022-01-01 2022-12-31 11977957 2022-12-31 11977957 c:Director1 2023-01-01 2023-12-31 11977957 c:Director2 2023-01-01 2023-12-31 11977957 d:FurnitureFittings 2023-01-01 2023-12-31 11977957 d:ComputerEquipment 2023-01-01 2023-12-31 11977957 d:CurrentFinancialInstruments 2023-12-31 11977957 d:CurrentFinancialInstruments 2022-12-31 11977957 d:Non-currentFinancialInstruments 2023-12-31 11977957 d:Non-currentFinancialInstruments 2022-12-31 11977957 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11977957 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11977957 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11977957 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11977957 d:ShareCapital 2023-01-01 2023-12-31 11977957 d:ShareCapital 2023-12-31 11977957 d:ShareCapital 2022-12-31 11977957 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11977957 d:RetainedEarningsAccumulatedLosses 2023-12-31 11977957 d:RetainedEarningsAccumulatedLosses 2022-12-31 11977957 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 11977957 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 11977957 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11977957 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 11977957 c:FRS102 2023-01-01 2023-12-31 11977957 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11977957 c:FullAccounts 2023-01-01 2023-12-31 11977957 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11977957 c:Consolidated 2023-12-31 11977957 c:ConsolidatedGroupCompanyAccounts 2023-01-01 2023-12-31 11977957 2 2023-01-01 2023-12-31 11977957 6 2023-01-01 2023-12-31 11977957 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 11977957


HARPERCREWE (HOLDINGS) LTD








UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
72,747
37,035

Tangible assets
 5 
97,754
60,952

  
170,501
97,987

Current assets
  

Work in progress
 7 
14,390,683
11,795,709

Debtors
 8 
1,126,073
2,163,483

Cash at bank and in hand
 9 
1,007,041
134,164

  
16,523,797
14,093,356

Creditors: amounts falling due within one year
 10 
(7,815,251)
(5,030,208)

Net current assets
  
 
 
8,708,546
 
 
9,063,148

 
HARPERCREWE (HOLDINGS) LTD
 
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


Total assets less current liabilities
  
8,879,047
9,161,135

Creditors: amounts falling due after more than one year
 11 
(17,057,335)
(13,026,182)

Provisions for liabilities
  

Deferred tax
  
(24,438)
696,889

  
 
 
(24,438)
 
 
696,889

Net liabilities
  
(8,202,726)
(3,168,158)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(8,202,826)
(3,168,258)

  
(8,202,726)
(3,168,158)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 September 2024.




................................................
Adrian John Bloor
................................................
George Edward Martin Bossom
Director
Director

The notes on pages 6 to 15 form part of these financial statements.

Page 1

 
HARPERCREWE (HOLDINGS) LTD
REGISTERED NUMBER: 11977957

COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 6 
600
500

  
600
500

Current assets
  

Debtors
 8 
13,748,649
5,357,849

Cash at bank and in hand
 9 
457
608

  
13,749,106
5,358,457

Creditors: amounts falling due within one year
 10 
(89,360)
(380,552)

Net current assets
  
 
 
13,659,746
 
 
4,977,905

Total assets less current liabilities
  
13,660,346
4,978,405

  

Creditors: amounts falling due after more than one year
 11 
(16,722,057)
(6,007,690)

Provisions for liabilities
  

Deferred Taxation
  
-
4,278

  
 
 
-
 
 
4,278

Net liabilities
  
(3,061,711)
(1,025,007)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account carried forward
  
(3,061,811)
(1,025,107)

  
(3,061,711)
(1,025,007)


The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with
Page 2

 
HARPERCREWE (HOLDINGS) LTD
REGISTERED NUMBER: 11977957
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 September 2024.




................................................
Adrian John Bloor
................................................
George Edward Martin Bossom
Director
Director

The notes on pages 6 to 15 form part of these financial statements.

Page 3

 
HARPERCREWE (HOLDINGS) LTD
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£

At 1st January 2023
100
(3,168,258)
(3,168,158)
(3,168,158)


Comprehensive income for the year

Loss for the year
-
(3,909,058)
(3,909,058)
(3,909,058)
Total comprehensive income for the year
-
(3,909,058)
(3,909,058)
(3,909,058)


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,125,510)
(1,125,510)
(1,125,510)


Total transactions with owners
-
(1,125,510)
(1,125,510)
(1,125,510)


At 31st December 2023
100
(8,202,826)
(8,202,726)
(8,202,726)


The notes on pages 6 to 15 form part of these financial statements.

Page 4

 
HARPERCREWE (HOLDINGS) LTD
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1st January 2023
100
(1,025,107)
(1,025,007)


Comprehensive income for the year

Loss for the year
-
(911,194)
(911,194)
Total comprehensive income for the year
-
(911,194)
(911,194)


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,125,510)
(1,125,510)


Total transactions with owners
-
(1,125,510)
(1,125,510)


At 31st December 2023
100
(3,061,811)
(3,061,711)


The notes on pages 6 to 15 form part of these financial statements.

Page 5

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1.


General information

Harpercrewe (Holdings) Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Basis of consolidation

The consolidated financial statements present the results of Harpercrewe Holdings Limited and its subsidiaries (the "Group") as if they formed a single entity. Intergroup transactions and balances between group entities are eliminated in full.

 
2.3

Going concern

The financial statements are prepared on a going concern basis which assumes the Company will continue in operation and be able to meet its liabilities as they fall due for at least 12 months from the date of these financial statements.        
        
The Company (and the wider group to which it belongs) maintains detailed cash flow and covenant compliance models to ensure that the Company (and wider group) can continue to meet its liabilities as they fall due. These show that the Company will continue to have adequate cash to meet its liabilities as they fall due. Parent undertakings have confirmed they will support the Company in meeting its liabilities as and when they fall due, but only to the extent that money is not otherwise available to the Company to meet such liabilities.        
        
The Company and the wider group entities have received written confirmation that the ultimate beneficial owners would provide financial support as part of the “going concern” analysis in the group’s annual report.        

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group  and  the  revenue  can  be  reliably  measured.  Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Revenue represents the value of legally completed open market sales during the period. Revenue is measured at the fair value of the consideration received, excluding discounts and VAT, arising from the principal activity of the company.  In relation to JCT contracts revenue represents the amount invoiced under the contract based on monthly valuations, which are in turn based on percentage completion.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to the profit and loss in the period in which they are incurred.

 
2.7

Current and deferred taxation

Tax on the profit or loss for the year comprises current and deferred tax.  Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.
Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and many adjustments to tax payable in respect of previous years.
Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. The following timing differences are not provided for; differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met; and differences relating to investments to the extent that it is not probable that they will reverse in the foreseeable recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.
Deferred tax is measured at the tax rate that is expeced to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet.  Deferred tax balances are not discounted.
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.


 
2.8

Intangible assets

Intangible fixed assets are stated at cost less accumulated amortisation and accumulated impairment losses.
The group assesses at each reporting date whether intangible fixed assets are impaired.   
Amortisation is charged to the profit and loss account over the estimated useful lives of each part of an item of intangible fixed assets. The estimated useful lives are as follows:
      
Computer software                                                                    33% straight line  
  
Amortisation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the group expects to consume an asset's future economic benefits.  


Page 7

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Computer equipment
-
33%

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. 
The group assesses at each reporting date whether tangible fixed assets are impaired.
Depreciation is charged to the profit and loss account over the estimated useful lives of each part of an item of tangible fixed assets.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less provision for impairment.

 
2.11

Work in progress

Work in progress is stated at the lower of cost and net realisable value. Cost include amounts incurred on development projects that are yet to commence.

 
2.12

Debtors

Short-term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price, including any transaction costs, and subsequently measured at amortised cost determined using the effective interest rate, less any impairment losses for bad and doubtful debts.

 
2.13

Creditors

Short-term creditors are measured at the transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Page 8

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Group and its subsidiaries a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Group and its subsidiaries becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of expenditure required to settle the obligation, takinginto account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet.
Contingent liabilities are recognised as a provision when the likelihood of economic outflow is assessed as probable. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company's control.  Contingent liabilities are not recognised as a provision but are instead disclosed in the financial statements when the likelihood of economic settlement is deemed possible and not probable.  Contingent liabilities are not recognised as a disclosure when the probability of an outflow of resources is remote.

 
2.15

Financial instruments

Financial instruments, or their component parts, are classified on initial recognition as either a financial asset, a financial liability or an equity instrument in accordance with the substance of the contractual arrangement. Financial instruments are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial instruments are derecognised when the Company are no longer a party to the contractual provisions of the instrument.        
        
Financial assets        
Financial assets are stated at either a) cost or b) amortised cost using the effective interest method which is a method of calculating the amortised cost of a financial asset, where this differs from the original transaction value, and of allocating the interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial asset.        
(i) Cash and cash equivalents - cash is represented by cash in hand and on demand deposits less overdrafts.  Cash equivalents represents deposits held with financial institutions repayable without penalty on notice of not more than 24 hours.        
(ii) Trade receivables - trade receivables are recognised and carried at the original transaction value. A provision for impairment is established where there is evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables concerned.     
Financial liabilities        
Financial liabilities and equity are classified according to the substance of the financial instruments contractual obligations, rather than the financial instruments legal form.
(i) Variable rate loans - variable rate loans are included as financial liabilities on the balance sheet at the amounts drawn on the particular facilities, less costs directly attributable to the arrangement of those facilities. Such arrangement costs are charged to profit or loss over the period of the facilities and credited to the loan balance. Interest payable is expensed as a finance cost in the year to which it relates.
(ii) Trade payables - trade payables are recognised and carried at the original transaction value.    
Page 9

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)


 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Average number of employees
23
23


4.


Intangible assets

Group and Company




Computer software

£



Cost


At 1 January 2023
43,718


Additions
49,350



At 31st December 2023

93,068



Amortisation


At 1 January 2023
6,683


Charge for the year on owned assets
13,638



At 31st December 2023

20,321



Net book value



At 31st December 2023
72,747



Page 10

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

5.


Tangible fixed assets

Group






Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
39,717
2,032
36,831
78,580


Additions
51,061
4,006
8,457
63,524



At 31st December 2023

90,778
6,038
45,288
142,104



Depreciation


At 1 January 2023
13,140
286
4,202
17,628


Charge for the year on owned assets
15,925
889
9,908
26,722



At 31st December 2023

29,065
1,175
14,110
44,350



Net book value



At 31st December 2023
61,713
4,863
31,178
97,754


6.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
500


Additions
100



At 31st December 2023
600







Page 11

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

7.


Work in progress

Group
Group
2023
2022
£
£

Work in progress
14,390,683
11,795,709

14,390,683
11,795,709



8.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Due after more than one year

Retention receivables
114,649
-
-
-

Amounts owed by group undertakings
1
1
13,699,479
-

Due within one year

Trade debtors
791,027
541,363
36,003
-

Amounts owed by group undertakings
(1)
1
(1)
5,194,042

Other debtors
142,974
1,620,573
2,000
163,807

Prepayments and accrued income
77,423
1,545
11,168
-

1,126,073
2,163,483
13,748,649
5,357,849



9.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
1,007,041
134,164
457
608

Less: bank overdrafts
-
(1,199,478)
-
-

1,007,041
(1,065,314)
457
608


Page 12

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

10.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank overdrafts
-
1,199,478
-
-

Other loans
4,363,077
-
-
-

Trade creditors
544,325
2,334,921
48,000
167,807

Other taxation and social security
-
255,145
-
212,745

Other creditors
777,199
380,744
740
-

Accruals and deferred income
2,130,650
859,920
40,620
-

7,815,251
5,030,208
89,360
380,552



11.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Other loans
-
7,732,839
-
-

Amounts owed to group undertakings
17,057,335
1,293,343
16,722,057
2,007,690

Other creditors
-
4,000,000
-
4,000,000

17,057,335
13,026,182
16,722,057
6,007,690



12.


Loans


Analysis of the maturity of loans is given below:


Group
Group
2023
2022
£
£

Amounts falling due within one year

Other loans
4,363,077
-

Amounts falling due 1-2 years

Other loans
-
7,732,839


-
7,732,839



4,363,077
7,732,839


Page 13

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

13.


Financial instruments

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Financial assets

Financial assets measured at fair value through profit or loss
1,007,041
134,164
457
-




14.


Deferred taxation


Group



2023


£






At beginning of year
696,889


Charged to profit or loss
(721,327)



At end of year
(24,438)

Company


2023


£






At beginning of year
4,278


Charged to profit or loss
(4,278)



At end of year
-


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Accelerated capital allowances
(24,438)
696,889
-
4,278

(24,438)
696,889
-
4,278


No account has been taken of the potential deferred tax asset of £1,314,027 calculated at 25% and representing losses carried forward and short-term timing differences, owing to the uncertainty over the utilisation of the losses available

Page 14

 
HARPERCREWE (HOLDINGS) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

15.


Parent company loss for the period

The Company has taken advantage of the exemption allowed under the Companies Act 2006 as applied to Companies and has not presented its own statement of comprehensive income in these financial statements. The parent Company loss for the period was £911,195.






 
Page 15