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COMPANY REGISTRATION NUMBER: SC510941
HARPER AND ALLAN MASONRY LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2024
HARPER AND ALLAN MASONRY LTD
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
HARPER AND ALLAN MASONRY LTD
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HARPER AND ALLAN MASONRY LTD
YEAR ENDED 31 JULY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Harper and Allan Masonry Ltd for the year ended 31 July 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Harper and Allan Masonry Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Harper and Allan Masonry Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Harper and Allan Masonry Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Harper and Allan Masonry Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Harper and Allan Masonry Ltd. You consider that Harper and Allan Masonry Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Harper and Allan Masonry Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
RITSONS Chartered Accountants
26-30 Marine Place Buckie Moray AB56 1UT
25 November 2024
HARPER AND ALLAN MASONRY LTD
STATEMENT OF FINANCIAL POSITION
31 July 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
5
308,769
243,845
CURRENT ASSETS
Debtors
6
322,500
228,835
Cash at bank and in hand
909,765
851,877
------------
------------
1,232,265
1,080,712
CREDITORS: amounts falling due within one year
7
274,629
276,864
------------
------------
NET CURRENT ASSETS
957,636
803,848
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,266,405
1,047,693
CREDITORS: amounts falling due after more than one year
8
30,843
29,901
PROVISIONS
Taxation including deferred tax
77,193
46,331
------------
------------
NET ASSETS
1,158,369
971,461
------------
------------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
1,158,367
971,459
------------
---------
SHAREHOLDERS FUNDS
1,158,369
971,461
------------
---------
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 income statement has not been delivered.
For the year ending 31 July 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 AND ALLAN MASONRY LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Mr S Harper
Mr A G Allan
Director
Director
Company registration number: SC510941
HARPER AND ALLAN MASONRY LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 26-30 Marine Place, Buckie, Moray, AB56 1UT.
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. Accounting policies
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.
Turnover
The turnover shown in the detailed income statement represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Taxation
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.
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
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the income statement on a straight line basis.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets,financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 14 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 August 2023
99,295
315,466
6,606
421,367
Additions
110,018
41,191
473
151,682
Disposals
( 3,365)
( 24,221)
( 27,586)
---------
---------
-------
---------
At 31 July 2024
205,948
332,436
7,079
545,463
---------
---------
-------
---------
Depreciation
At 1 August 2023
36,607
138,223
2,692
177,522
Charge for the year
25,685
53,175
659
79,519
Disposals
( 1,872)
( 18,475)
( 20,347)
---------
---------
-------
---------
At 31 July 2024
60,420
172,923
3,351
236,694
---------
---------
-------
---------
Carrying amount
At 31 July 2024
145,528
159,513
3,728
308,769
---------
---------
-------
---------
At 31 July 2023
62,688
177,243
3,914
243,845
---------
---------
-------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
Motor vehicles
Total
£
£
£
At 31 July 2024
39,525
28,892
68,417
--------
--------
--------
At 31 July 2023
23,381
23,381
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
318,705
227,139
Other debtors
3,795
1,696
---------
---------
322,500
228,835
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
53,820
85,117
Corporation tax
108,282
62,195
Social security and other taxes
81,148
103,563
Other creditors
31,379
25,989
---------
---------
274,629
276,864
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
30,843
29,901
--------
--------
9. Related party transactions
At the 31 July 2024, the company owed the directors £124 (2023: £247) by way of a directors loan account.