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Registered number: 01598875
Hartgraph Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 01598875
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 88,750 133,750
Tangible Assets 5 2,123,970 2,244,689
2,212,720 2,378,439
CURRENT ASSETS
Stocks 6 701,920 654,050
Debtors 7 1,977,927 1,960,960
Cash at bank and in hand 42,235 41,817
2,722,082 2,656,827
Creditors: Amounts Falling Due Within One Year 8 (2,218,328 ) (2,012,494 )
NET CURRENT ASSETS (LIABILITIES) 503,754 644,333
TOTAL ASSETS LESS CURRENT LIABILITIES 2,716,474 3,022,772
Creditors: Amounts Falling Due After More Than One Year 9 (424,630 ) (645,266 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (354,223 ) (294,412 )
NET ASSETS 1,937,621 2,083,094
CAPITAL AND RESERVES
Called up share capital 11 1,950 1,950
Capital redemption reserve 7,800 7,800
Other reserves 5,250 5,250
Income Statement 1,922,621 2,068,094
SHAREHOLDERS' FUNDS 1,937,621 2,083,094
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
A J Brooks
Director
8th November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hartgraph Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01598875 . The registered office is Unit 2, Amersham Commercial Park, Raans Road, Amersham, Buckinghamshire, HP6 6JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its useful economic life.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 57 (2023: 52)
57 52
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 225,000
As at 31 March 2024 225,000
Amortisation
As at 1 April 2023 91,250
Provided during the period 45,000
As at 31 March 2024 136,250
Net Book Value
As at 31 March 2024 88,750
As at 1 April 2023 133,750
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Page 5
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 287,084 3,522,313 476,329 108,230 4,393,956
Additions - 99,504 103,342 8,971 211,817
Disposals - - (152,259 ) - (152,259 )
As at 31 March 2024 287,084 3,621,817 427,412 117,201 4,453,514
Depreciation
As at 1 April 2023 97,176 1,779,870 184,568 87,653 2,149,267
Provided during the period 14,354 171,354 94,397 14,582 294,687
Disposals - - (114,410 ) - (114,410 )
As at 31 March 2024 111,530 1,951,224 164,555 102,235 2,329,544
Net Book Value
As at 31 March 2024 175,554 1,670,593 262,857 14,966 2,123,970
As at 1 April 2023 189,908 1,742,443 291,761 20,577 2,244,689
6. Stocks
2024 2023
£ £
Stock 333,120 392,050
Work in progress 368,800 262,000
701,920 654,050
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,496,271 1,567,978
Other debtors 481,656 392,982
1,977,927 1,960,960
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 234,933 311,780
Trade creditors 692,974 737,287
Bank loans and overdrafts 1,013,466 553,514
Other creditors 14,321 58,373
Taxation and social security 262,634 351,540
2,218,328 2,012,494
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 308,777 394,433
Bank loans 115,853 250,833
424,630 645,266
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 234,933 311,780
Later than one year and not later than five years 308,777 394,433
543,710 706,213
543,710 706,213
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,950 1,950
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Anthony Brooks 9,999 68,779 63,000 - 15,778
Mr Stephen Walters 9,999 - - - 9,999
The above loan is unsecured, interest free and repayable on demand.
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