Company registration number 04878637 (England and Wales)
HARDALE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
HARDALE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HARDALE HOLDINGS LIMITED (REGISTERED NUMBER: 04878637)
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,156
31,320
Investment property
4
805,000
805,000
Investments
5
10,727
133,451
817,883
969,771
Current assets
Debtors
6
2,700
2,160
Cash at bank and in hand
4,038
3,775
6,738
5,935
Creditors: amounts falling due within one year
7
(252,864)
(273,009)
Net current liabilities
(246,126)
(267,074)
Total assets less current liabilities
571,757
702,697
Provisions for liabilities
(22,388)
(27,768)
Net assets
549,369
674,929
Capital and reserves
Called up share capital
133,452
133,452
Revaluation reserve
290,772
314,776
Distributable profit and loss reserves
125,145
226,701
Total equity
549,369
674,929
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
HARDALE HOLDINGS LIMITED (REGISTERED NUMBER: 04878637)
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2024
28 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 July 2024 and are signed on its behalf by:
C Richards
D Richards
Director
Director
HARDALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information
Hardale Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are met:
The amount of turnover can be measured reliably
It is probable that the company will receive the consideration due under the contract
The stage of completion of the contract at the end of the reporting period can be measured reliably
The costs incurred and the costs to complete the contract can be measured reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
HARDALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Improvements to property
Straight line over 50 years
Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
25% on reducing balance
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
HARDALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 5 -
3
Tangible fixed assets
Improvements to property
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
£
Cost
At 1 March 2023
42,567
1,170
1,564
4,548
49,849
Additions
1,791
1,791
Transfer to investment property
(42,567)
(42,567)
At 28 February 2024
1,170
1,564
6,339
9,073
Depreciation and impairment
At 1 March 2023
12,082
1,122
1,497
3,828
18,529
Depreciation charged in the year
851
12
17
441
1,321
Transfer to investment property
(12,933)
(12,933)
At 28 February 2024
1,134
1,514
4,269
6,917
Carrying amount
At 28 February 2024
36
50
2,070
2,156
At 28 February 2023
30,485
48
67
720
31,320
4
Investment property
2024
£
Fair value
At 1 March 2023
805,000
Transfers
29,633
Revaluations
(29,633)
At 28 February 2024
805,000
The fair value of the investment property has been arrived at on the basis of the best estimate of the directors.
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
10,727
133,451
HARDALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 March 2023
133,451
Impairment
(122,724)
At 28 February 2024
10,727
Carrying amount
At 28 February 2024
10,727
At 28 February 2023
133,451
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,700
2,160
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
174
Amounts owed to group undertakings
10,727
10,727
Taxation and social security
6,836
7,893
Other creditors
235,301
254,215
252,864
273,009