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COMPANY REGISTRATION NUMBER: 02790364
Harper & Edwards Limited
Filleted Unaudited Financial Statements
29 February 2024
Harper & Edwards Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Accounting policies
4
Notes to the financial statements
6
Harper & Edwards Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Harper & Edwards Limited
Year ended 29 February 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 29 February 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
BODDINGTON & COMPANY LIMITED Chartered Certified Accountants
3 Churchmeadows Bulford Road Shipton Bellinger Tidworth Hampshire SP9 7RL
18 November 2024
Harper & Edwards Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
14,760
14,065
Current assets
Debtors
5
523,313
745,918
Cash at bank and in hand
217,724
79,411
---------
---------
741,037
825,329
Creditors: amounts falling due within one year
6
279,414
341,437
---------
---------
Net current assets
461,623
483,892
---------
---------
Total assets less current liabilities
476,383
497,957
Creditors: amounts falling due after more than one year
7
13,333
23,397
Provisions
Taxation including deferred tax
3,700
3,525
---------
---------
Net assets
459,350
471,035
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
449,350
461,035
---------
---------
Shareholders funds
459,350
471,035
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Harper & Edwards Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 14 November 2024 , and are signed on behalf of the board by:
Mr J. E. Harris
Director
Company registration number: 02790364
Harper & Edwards Limited
Accounting Policies
Year ended 29 February 2024
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover, which is stated net of value added tax, in respect of contracts undertaken by the company is recognised over time as the company fulfils its contractual obligations to customers.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
33 1/3 - 50% on cost
Motor vehicles
-
25% on cost
Office equipment
-
25 - 33 1/3% on cost
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Harper & Edwards Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Riverbank House, 67 Summer Road, East Molesey, Surrey, KT8 9LX, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 11 ).
4. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 March 2023
17,252
67,496
83,083
167,831
Additions
7,339
7,339
Disposals
( 26,542)
( 11,714)
( 38,256)
--------
--------
--------
---------
At 29 February 2024
17,252
40,954
78,708
136,914
--------
--------
--------
---------
Depreciation
At 1 March 2023
16,922
67,496
69,348
153,766
Charge for the year
180
6,464
6,644
Disposals
( 26,542)
( 11,714)
( 38,256)
--------
--------
--------
---------
At 29 February 2024
17,102
40,954
64,098
122,154
--------
--------
--------
---------
Carrying amount
At 29 February 2024
150
14,610
14,760
--------
--------
--------
---------
At 28 February 2023
330
13,735
14,065
--------
--------
--------
---------
5. Debtors
2024
2023
£
£
Trade debtors
441,674
639,069
Other debtors
81,639
106,849
---------
---------
523,313
745,918
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
154,281
223,821
Social security and other taxes
16,571
19,636
Other creditors
98,562
87,980
---------
---------
279,414
341,437
---------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,333
23,397
--------
--------
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
3,700
3,525
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