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REGISTERED NUMBER: 07550371 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Harding Sales Ltd

Harding Sales Ltd (Registered number: 07550371)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Harding Sales Ltd (Registered number: 07550371)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 44,240 50,600
Tangible assets 5 169,608 180,242
213,848 230,842

CURRENT ASSETS
Stock and work in progress 275,733 268,426
Debtors 6 104,596 133,792
Cash at bank and in hand 22,139 4,095
402,468 406,313
CREDITORS
Amounts falling due within one year 7 482,081 464,194
NET CURRENT LIABILITIES (79,613 ) (57,881 )
TOTAL ASSETS LESS CURRENT LIABILITIES 134,235 172,961

CREDITORS
Amounts falling due after more than one year 8 (38,053 ) (31,088 )

PROVISIONS FOR LIABILITIES (42,402 ) (34,133 )
NET ASSETS 53,780 107,740

CAPITAL AND RESERVES
Called up share capital 105 105
Non-distributable reserves 10 907 10,653
Retained earnings 52,768 96,982
SHAREHOLDERS' FUNDS 53,780 107,740

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

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

The directors acknowledge their 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.

Harding Sales Ltd (Registered number: 07550371)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mr R L Harding - Director


Harding Sales Ltd (Registered number: 07550371)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Harding Sales Ltd 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: 07550371

Registered office: Peak Building
Eccles Road
Chapel en le Frith
High Peak
Derbyshire
SK23 9RG

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Short leasehold - 20% on cost
Plant and machinery - 10% - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 10% on cost
Patterns - 10% on cost

Stocks
Stock and work in progress 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 Profit and Loss Account, 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.


Harding Sales Ltd (Registered number: 07550371)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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 18 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 127,200
AMORTISATION
At 1 January 2023 76,600
Amortisation for year 6,360
At 31 December 2023 82,960
NET BOOK VALUE
At 31 December 2023 44,240
At 31 December 2022 50,600

Harding Sales Ltd (Registered number: 07550371)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST OR VALUATION
At 1 January 2023 83,272 324,920 61,968
Additions - 2,146 -
At 31 December 2023 83,272 327,066 61,968
DEPRECIATION
At 1 January 2023 83,272 261,566 56,187
Charge for year - 25,026 2,776
At 31 December 2023 83,272 286,592 58,963
NET BOOK VALUE
At 31 December 2023 - 40,474 3,005
At 31 December 2022 - 63,354 5,781

Motor
vehicles Patterns Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 107,225 308,633 886,018
Additions 29,800 13,105 45,051
At 31 December 2023 137,025 321,738 931,069
DEPRECIATION
At 1 January 2023 63,125 241,626 705,776
Charge for year 11,061 16,822 55,685
At 31 December 2023 74,186 258,448 761,461
NET BOOK VALUE
At 31 December 2023 62,839 63,290 169,608
At 31 December 2022 44,100 67,007 180,242

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   

Cost 83,272 327,066 61,968
83,272 327,066 61,968

Harding Sales Ltd (Registered number: 07550371)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor
vehicles Patterns Totals
£    £    £   
Valuation in 2014 - 127,450 127,450
Cost 137,025 194,288 803,619
137,025 321,738 931,069

If patterns had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 156,984 156,984

The patterns were valued on a replacement cost basis on 31 March 2014 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 48,952 71,916 120,868
Additions - 29,800 29,800
Transfer to ownership - (46,016 ) (46,016 )
At 31 December 2023 48,952 55,700 104,652
DEPRECIATION
At 1 January 2023 14,686 30,931 45,617
Charge for year 9,790 5,570 15,360
Transfer to ownership - (21,866 ) (21,866 )
At 31 December 2023 24,476 14,635 39,111
NET BOOK VALUE
At 31 December 2023 24,476 41,065 65,541
At 31 December 2022 34,266 40,985 75,251

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 84,072 87,615
Other debtors 20,524 46,177
104,596 133,792

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 21,677 18,995
Trade creditors 95,217 103,307
Taxation and social security 56,389 63,621
Other creditors 308,798 278,271
482,081 464,194

Harding Sales Ltd (Registered number: 07550371)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included within other creditors are customer deposits of £258,291 (2022 - £269,585).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 38,053 31,088

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 59,730 50,083

Hire purchase liabilities are secured over assets to which they relate.

10. RESERVES
Non-distributable
reserves
£   
At 1 January 2023 10,653
Transfer of realised profit (10,163 )
Revaluation deferred tax 417

At 31 December 2023 907