Company Registration No. 07429191 (England and Wales)
Harris Evolution Limited
Unaudited accounts
for the year ended 31 March 2024
Harris Evolution Limited
Unaudited accounts
Contents
Harris Evolution Limited
Company Information
for the year ended 31 March 2024
Directors
D Houghton
C Arathoon
K Kelly
P Moon
D Murphy
Company Number
07429191 (England and Wales)
Registered Office
Ground Floor, Kingsgate House
Church Road, Kingswood
Bristol
Gloucestershire
BS15 4AU
Accountants
The Fresh Accountancy Company Limited
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Harris Evolution Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Harris Evolution Limited for the year ended
31 March 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
The Fresh Accountancy Company Limited
Chartered Accountants
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
1 October 2024
Harris Evolution Limited
Statement of financial position
as at 31 March 2024
Tangible assets
36,261
58,135
Debtors
4,890,746
3,532,338
Cash at bank and in hand
501,287
443,557
Creditors: amounts falling due within one year
(3,541,156)
(2,125,153)
Net current assets
1,856,877
1,856,742
Total assets less current liabilities
1,893,138
1,914,877
Creditors: amounts falling due after more than one year
(430,966)
(701,912)
Net assets
1,462,172
1,212,965
Called up share capital
4
4
Profit and loss account
1,462,168
1,212,961
Shareholders' funds
1,462,172
1,212,965
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by
D Houghton
Director
Company Registration No. 07429191
Harris Evolution Limited
Notes to the Accounts
for the year ended 31 March 2024
Harris Evolution Limited is a private company, limited by shares, registered in England and Wales, registration number 07429191. The registered office is Ground Floor, Kingsgate House, Church Road, Kingswood, Bristol, Gloucestershire, BS15 4AU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% RB
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Taxation for the year comprises current 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 that have been enacted or substantively enacted by the balance sheet date.
Harris Evolution Limited
Notes to the Accounts
for the year ended 31 March 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The going concern basis of preparation is dependent on the continued sucessful trading position of the business.
Amounts recoverable under contract
Amounts recoverable under contract are calculated using the directors best estimate of amounts owed to the company from customers under current contractual obligations.
Restatement of prior period
WIP which was included in stock and cost of sales of £662,500 in the comparative figures has been restated as accrued income and sales.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
4,854
93,614
27,316
40,781
166,565
Additions
-
-
-
2,395
2,395
Disposals
-
(26,024)
-
-
(26,024)
At 31 March 2024
4,854
67,590
27,316
43,176
142,936
At 1 April 2023
4,540
51,743
25,266
26,881
108,430
Charge for the year
78
7,422
513
4,074
12,087
On disposals
-
(13,842)
-
-
(13,842)
At 31 March 2024
4,618
45,323
25,779
30,955
106,675
At 31 March 2024
236
22,267
1,537
12,221
36,261
At 31 March 2023
314
41,871
2,050
13,900
58,135
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
18,996
37,510
Harris Evolution Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
824,517
848,627
Amounts due from group undertakings etc.
2,322,418
1,998,534
Accrued income and prepayments
1,733,811
685,115
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,401,587
636,836
Obligations under finance leases and hire purchase contracts
6,164
40,352
Trade creditors
1,435,688
907,466
Taxes and social security
280,954
261,563
Other creditors
78,684
4,915
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
413,961
701,912
Obligations under finance leases and hire purchase contracts
17,005
-
8
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
48,823
61,323
Later than one year and not later than five years
67,208
100,549
The ultimate parent company is DJ Houghton Holdings Limited, incorporated in England, registered office Orchard House, Clyst St Mary, Exeter, EX5 1BR.
11
Average number of employees
During the year the average number of employees was 20 (2023: 19).