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REGISTERED NUMBER: 07197800 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

HARWOODS OF YARMOUTH LIMITED

HARWOODS OF YARMOUTH LIMITED (REGISTERED NUMBER: 07197800)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HARWOODS OF YARMOUTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: T J R Sheldon
Mrs A K Miles





REGISTERED OFFICE: Kings Manor Farm
Copse Lane
Freshwater
Isle of Wight
PO40 9TL





REGISTERED NUMBER: 07197800 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

HARWOODS OF YARMOUTH LIMITED (REGISTERED NUMBER: 07197800)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,585 4,511

CURRENT ASSETS
Stocks 185,877 196,992
Debtors 5 10,546 15,134
Cash at bank and in hand 14,175 4,925
210,598 217,051
CREDITORS
Amounts falling due within one year 6 246,172 248,553
NET CURRENT LIABILITIES (35,574 ) (31,502 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(31,989

)

(26,991

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (31,990 ) (26,992 )
SHAREHOLDERS' FUNDS (31,989 ) (26,991 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

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 Board of Directors and authorised for issue on 24th September 2024 and were signed on its behalf by:



T J R Sheldon - Director


HARWOODS OF YARMOUTH LIMITED (REGISTERED NUMBER: 07197800)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Harwoods of Yarmouth Limited 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

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.
Plant and machinery etc - 25% on cost and 15% on reducing balance

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

HARWOODS OF YARMOUTH LIMITED (REGISTERED NUMBER: 07197800)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023
and 31st December 2023 36,583
DEPRECIATION
At 1st January 2023 32,072
Charge for year 926
At 31st December 2023 32,998
NET BOOK VALUE
At 31st December 2023 3,585
At 31st December 2022 4,511

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,412 10,000
Other debtors 5,134 5,134
10,546 15,134

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 4,076
Trade creditors 17,938 29,674
Amounts owed to group undertakings 49,000 49,000
Taxation and social security 9,699 393
Other creditors 169,535 165,410
246,172 248,553

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 24,978 24,978
Between one and five years 16,652 6,245
41,630 31,223

HARWOODS OF YARMOUTH LIMITED (REGISTERED NUMBER: 07197800)

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


8. SECURED DEBTS

The bank overdraft is secured by a personal guarantee from the director T J R Sheldon.

9. RELATED PARTY DISCLOSURES

Harwoods of Yarmouth Limited is a wholly owned subsidiary of Harry Ferguson Farms Limited, which in turn is a subsidiary of Harry Ferguson Holdings Limited.