Registered number
07304362
Harberson Ltd
Filleted Accounts
30 June 2024
Harberson Ltd
Registered number: 07304362
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 105,118 110,431
Current assets
Stocks 4,735 3,761
Debtors 4 19,472 22,597
Cash at bank and in hand 108,027 85,074
132,234 111,432
Creditors: amounts falling due within one year 5 (58,059) (56,807)
Net current assets 74,175 54,625
Total assets less current liabilities 179,293 165,056
Creditors: amounts falling due after more than one year 6 (14,746) (24,648)
Provisions for liabilities (22,281) (20,982)
Net assets 142,266 119,426
Capital and reserves
Called up share capital 100 100
Profit and loss account 142,166 119,326
Shareholder's funds 142,266 119,426
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Webber
Director
Approved by the board on 7 November 2024
Harberson Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 15% Reducing Balance
Plant and machinery 15% Reducing Balance
Fixtures, fittings, tools and equipment 15% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Office Equip and F & F Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 18,837 286,493 5,750 311,080
Additions 13,237 - - 13,237
At 30 June 2024 32,074 286,493 5,750 324,317
Depreciation
At 1 July 2023 12,173 186,880 1,596 200,649
Charge for the year 2,985 14,942 623 18,550
At 30 June 2024 15,158 201,822 2,219 219,199
Net book value
At 30 June 2024 16,916 84,671 3,531 105,118
At 30 June 2023 6,664 99,613 4,154 110,431
4 Debtors 2024 2023
£ £
Trade debtors 18,416 21,785
Other debtors 1,056 812
19,472 22,597
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,449 9,449
Trade creditors 5,336 6,847
Taxation and social security costs 14,293 11,506
Other creditors 28,981 29,005
58,059 56,807
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,746 24,648
7 Other information
Harberson Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Lanehurst Barn
Firs Lane
Appleton
Warrington
WA4 5LQ
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