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REGISTERED NUMBER: 09885406 (England and Wales)















HARTSWORTH LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






HARTSWORTH LIMITED (REGISTERED NUMBER: 09885406)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


HARTSWORTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: S T Worth
Mrs S E Worth
B Worth
M J O'Driscoll





SECRETARY: Ms R Baker





REGISTERED OFFICE: 1 Brunel Way
Sweet Briar Road Industrial Estate
Norwich
Norfolk
NR3 2BD





REGISTERED NUMBER: 09885406 (England and Wales)





AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

HARTSWORTH LIMITED (REGISTERED NUMBER: 09885406)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 7,985,564 7,985,564

CURRENT ASSETS
Debtors 5 994,215 831,942
Cash at bank 80,715 80,774
1,074,930 912,716
CREDITORS
Amounts falling due within one year 6 7,010,651 6,772,234
NET CURRENT LIABILITIES (5,935,721 ) (5,859,518 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,049,843 2,126,046

CAPITAL AND RESERVES
Called up share capital 7 28,100 28,100
Retained earnings 2,021,743 2,097,946
SHAREHOLDERS' FUNDS 2,049,843 2,126,046

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 16 October 2024 and were signed on its behalf by:





S T Worth - Director


HARTSWORTH LIMITED (REGISTERED NUMBER: 09885406)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Hartsworth 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The directors acknowledge that the statement of financial position shows net current liabilities and a net liability position. The directors consider it is appropriate to prepare these accounts on a going concern basis, as there is value in the group trading investment which if consolidated would show a net asset position.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

HARTSWORTH LIMITED (REGISTERED NUMBER: 09885406)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 8,007,836
PROVISIONS
At 1 June 2023
and 31 May 2024 22,272
NET BOOK VALUE
At 31 May 2024 7,985,564
At 31 May 2023 7,985,564

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Friars 577 Limited
Registered office: Same as parent
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

Teknomek Limited
Registered office: Same as parent
Nature of business: Manufacturer of stainless steel products
%
Class of shares: holding
Ordinary A, B, C and D 100.00

Teknomek Holdings Limited
Registered office: Same as parent
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

Hartsworth Property Limited
Registered office: Same as parent
Nature of business: Property rental
%
Class of shares: holding
Ordinary 100.00

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,600 3,600
Amounts owed by group undertakings 964,851 823,842
Other debtors 25,764 4,500
994,215 831,942

HARTSWORTH LIMITED (REGISTERED NUMBER: 09885406)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 7,000,555 6,763,691
Other creditors 10,096 8,543
7,010,651 6,772,234

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
26,858 Ordinary 'A' Shares £1 26,858 26,858
1,242 Ordinary 'B' Shares £1 1,242 1,242
28,100 28,100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alistair Main FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor