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REGISTERED NUMBER: 01311906 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Preston Harrison Limited

Preston Harrison Limited (Registered number: 01311906)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Preston Harrison Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: R Parker
Mrs J M Parker
S M Parker





SECRETARY: Mrs J M Parker





REGISTERED OFFICE: Crow Nest Lane
Leeds
West Yorkshire
LS11 8AT





REGISTERED NUMBER: 01311906 (England and Wales)





ACCOUNTANTS: Frank W Dobby & Co Limited
Chartered Certified Accountants
55 Fountain Street
Morley
Leeds
West Yorkshire
LS27 0AA

Preston Harrison Limited (Registered number: 01311906)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 140,241 73,269

CURRENT ASSETS
Stocks 121,098 138,839
Debtors 5 890,101 1,196,746
Cash at bank 634,757 119,416
1,645,956 1,455,001
CREDITORS
Amounts falling due within one year 6 698,626 595,054
NET CURRENT ASSETS 947,330 859,947
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,087,571

933,216

CREDITORS
Amounts falling due after more than one
year

7

(14,069

)

(3,455

)

PROVISIONS FOR LIABILITIES (26,763 ) (17,785 )
NET ASSETS 1,046,739 911,976

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 1,016,739 881,976
SHAREHOLDERS' FUNDS 1,046,739 911,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Preston Harrison Limited (Registered number: 01311906)

Balance Sheet - continued
31 May 2024


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 17 October 2024 and were signed on its behalf by:





R Parker - Director


Preston Harrison Limited (Registered number: 01311906)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Preston Harrison 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.

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.

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 from the sale of goods is recognised when goods are delivered and legal title passes.

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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any write down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

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.


Preston Harrison Limited (Registered number: 01311906)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

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 35 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 72,472 251,822 13,732 338,026
Additions - 114,690 3,502 118,192
Disposals - (44,209 ) - (44,209 )
At 31 May 2024 72,472 322,303 17,234 412,009
DEPRECIATION
At 1 June 2023 69,573 183,961 11,223 264,757
Charge for year 435 44,423 1,503 46,361
Eliminated on disposal - (39,350 ) - (39,350 )
At 31 May 2024 70,008 189,034 12,726 271,768
NET BOOK VALUE
At 31 May 2024 2,464 133,269 4,508 140,241
At 31 May 2023 2,899 67,861 2,509 73,269

Preston Harrison Limited (Registered number: 01311906)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 53,443
Additions 54,567
Transfer to ownership (34,395 )
At 31 May 2024 73,615
DEPRECIATION
At 1 June 2023 31,846
Charge for year 16,320
Transfer to ownership (23,512 )
At 31 May 2024 24,654
NET BOOK VALUE
At 31 May 2024 48,961
At 31 May 2023 21,597

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 841,221 1,147,754
VAT 36,705 35,878
Prepayments 12,175 13,114
890,101 1,196,746

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 8,750 4,244
Trade creditors 327,299 371,363
Tax 65,523 14,056
Social security and other taxes 30,376 24,273
Directors' current accounts 121,370 72,657
Accrued expenses 145,308 108,461
698,626 595,054

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 14,069 3,455

Preston Harrison Limited (Registered number: 01311906)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. OTHER FINANCIAL COMMITMENTS

Hire purchase contracts and finance leases are secured on the relevant assets concerned.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors provided an interest free loan to the company.

Amount due to related party as at 31st May 2024 was £121,370 and in 2023 the balance was £72,657.