HARKNESS SCREENS (USA) LIMITED

Company Registration Number:
03336130 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2022

Period of accounts

Start date: 01 October 2021

End date: 30 September 2022

HARKNESS SCREENS (USA) LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2022

Balance sheet
Notes

HARKNESS SCREENS (USA) LIMITED

Balance sheet

As at 30 September 2022


Notes

2022

2021


£

£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 1,659,124 1,992,860
Total fixed assets: 1,659,124 1,992,860
Current assets
Stocks: 240,329 307,225
Debtors: 4 1,034,770 2,426,870
Cash at bank and in hand: 832,577 344,011
Total current assets: 2,107,676 3,078,106
Creditors: amounts falling due within one year: 5 (1,462,183) (2,132,586)
Net current assets (liabilities): 645,493 945,520
Total assets less current liabilities: 2,304,617 2,938,380
Provision for liabilities: (43,404) (95,192)
Total net assets (liabilities): 2,261,213 2,843,188
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 2,261,211 2,843,186
Shareholders funds: 2,261,213 2,843,188

The notes form part of these financial statements

HARKNESS SCREENS (USA) LIMITED

Balance sheet statements

For the year ending 30 September 2022 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 November 2024
and signed on behalf of the board by:

Name: Patrick Carolan
Status: Director

The notes form part of these financial statements

HARKNESS SCREENS (USA) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

HARKNESS SCREENS (USA) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

2. Employees

2022 2021
Average number of employees during the period 12 17

HARKNESS SCREENS (USA) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

3. Tangible Assets

Total
Cost £
At 01 October 2021 3,803,367
Additions 14,309
At 30 September 2022 3,817,676
Depreciation
At 01 October 2021 1,810,507
Charge for year 348,045
At 30 September 2022 2,158,552
Net book value
At 30 September 2022 1,659,124
At 30 September 2021 1,992,860

HARKNESS SCREENS (USA) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

4. Debtors

2022 2021
££
Debtors due after more than one year: 0 0

HARKNESS SCREENS (USA) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

5. Creditors: amounts falling due within one year note

Creditors: Amounts falling due within one year 2022 2021 $ $ Trade creditors 390,551 111,113 Amounts owed to group undertakings 643,813 1,721,711 Accruals and deferred income 427,819 299,762 1,462,183 2,132,586 Amounts due to group undertakings are unsecured, have no fixed date of repayment and are repayable on demand. Interest is charged at 3.836% on balances with Harkness Screens Group Limited. This interest rate is a deemed market rate. All other group borrowings are interest free.

HARKNESS SCREENS (USA) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

6. Related party transactions

Related party transactions The Company is exempt from disclosing other related party transactions as they are with other companies that are wholly owned within the Harkness Screens Group Limited Group.

HARKNESS SCREENS (USA) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

7. Post balance sheet events

Post balance sheet events As detailed in the going concern note above, the Company is dependent on the financial support from its ultimate parent, Harkness Screens Group Limited, in respect of its ability to continue as a going concern. The directors of Harkness Screens Group Limited, having assessed the Group’s financial forecasts, have determined restructuring of the Group’s financial liabilities and operating overheads, and raising new equity capital is required to ensure future financial viability. Subsequent to the balance sheet date, the directors of Harkness Screens Group Limited are negotiating the restructure of its primary external debt. The ultimate Parent Company has also received a commitment from certain shareholders in respect of new equity investment.