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REGISTERED NUMBER: 02821641 (England and Wales)















Harrison Lubrication Engineering Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






Harrison Lubrication Engineering Limited (Registered number: 02821641)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Harrison Lubrication Engineering Limited

Company Information
for the Year Ended 31 May 2024







Directors: Pamela Morris
Philip Stephen Vause





Secretary: Pamela Morris





Registered office: Lynstock Way
Lostock
Bolton
Greater Manchester
BL6 4SA





Registered number: 02821641 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Harrison Lubrication Engineering Limited (Registered number: 02821641)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 325,212 327,738

Current assets
Stocks 101,573 103,949
Debtors 5 220,625 255,998
Cash at bank and in hand 173,918 274,385
496,116 634,332
Creditors
Amounts falling due within one year 6 355,798 418,786
Net current assets 140,318 215,546
Total assets less current liabilities 465,530 543,284

Creditors
Amounts falling due after more than
one year

7

12,500

55,675
Net assets 453,030 487,609

Capital and reserves
Called up share capital 8 130 130
Revaluation reserve 9 111,100 112,547
Capital redemption reserve 9 20 20
Retained earnings 9 341,780 374,912
Shareholders' funds 453,030 487,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Harrison Lubrication Engineering Limited (Registered number: 02821641)

Statement of Financial Position - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





Pamela Morris - Director


Harrison Lubrication Engineering Limited (Registered number: 02821641)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. Statutory information

Harrison Lubrication Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales and installations of centralised lubrication systems and equipment and the sale of consumables within the lubrication industry during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% Straight Line
Fixtures and fittings - Straight line over 5 years

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stock is valued at the lower of cost and net realisable value.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.


Harrison Lubrication Engineering Limited (Registered number: 02821641)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 10 (2023 - 10 ) .

4. Tangible fixed assets
Fixtures
Freehold and
property fittings Totals
£    £    £   
Cost or valuation
At 1 June 2023
and 31 May 2024 335,000 46,151 381,151
Depreciation
At 1 June 2023 11,576 41,837 53,413
Charge for year 1,447 1,079 2,526
At 31 May 2024 13,023 42,916 55,939
Net book value
At 31 May 2024 321,977 3,235 325,212
At 31 May 2023 323,424 4,314 327,738

The company's freehold land and buildings were revalued on an open market valuation basis during the year ended 31st May 2014 by Duxburys Commercial, Unit 8, Metropolitan Business park, Blackpool, FY3 9LT at an amount of £335,000

Harrison Lubrication Engineering Limited (Registered number: 02821641)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. Tangible fixed assets - continued

Cost or valuation at 31 May 2024 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2014 335,000 - 335,000
Cost - 46,151 46,151
335,000 46,151 381,151

If freehold land & buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 238,864 238,864
Aggregate depreciation 87,450 82,993

Value of land in freehold land and buildings 151,414 155,871

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 218,385 252,388
Amounts owed by group undertakings - 504
Other debtors 2,240 3,106
220,625 255,998

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans 10,000 33,099
Trade creditors 198,300 234,503
Amounts owed to group undertakings 96 -
Taxation and social security 103,925 104,357
Other creditors 43,477 46,827
355,798 418,786

Harrison Lubrication Engineering Limited (Registered number: 02821641)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 12,500 55,675

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary shares - A 1 80 80
50 Ordinary shares - B 1 50 50
130 130

9. Reserves
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 June 2023 374,912 112,547 20 487,479
Profit for the year 179,021 179,021
Dividends (213,600 ) (213,600 )
Reclassification 1,447 (1,447 ) - -
At 31 May 2024 341,780 111,100 20 452,900