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REGISTERED NUMBER: 04848949 (England and Wales)















Harthwaite Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






Harthwaite Limited (Registered number: 04848949)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harthwaite Limited

Company Information
for the year ended 30 April 2024







DIRECTOR: SI Reay





SECRETARY: JL Reay





REGISTERED OFFICE: Bewley Castle Farm
Colby
Appleby
Cumbria
CA16 6AZ





REGISTERED NUMBER: 04848949 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Harthwaite Limited (Registered number: 04848949)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1,224,507 1,499,376
Investment property 5 967,586 967,586
2,192,093 2,466,962

CURRENT ASSETS
Stocks 6 600,000 600,000
Debtors: amounts falling due within one
year

7

184,123

214,004
Cash at bank 744,620 254,953
1,528,743 1,068,957
CREDITORS
Amounts falling due within one year 8 329,697 199,018
NET CURRENT ASSETS 1,199,046 869,939
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,391,139

3,336,901

CREDITORS
Amounts falling due after more than one
year

9

(500,000

)

(500,000

)

PROVISIONS FOR LIABILITIES 10 (105,007 ) (94,701 )
NET ASSETS 2,786,132 2,742,200

CAPITAL AND RESERVES
Called up share capital 11 1 1
Revaluation reserve 12 207,780 207,780
Retained earnings 2,578,351 2,534,419
SHAREHOLDERS' FUNDS 2,786,132 2,742,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Harthwaite Limited (Registered number: 04848949)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 January 2025 and were signed by:





SI Reay - Director


Harthwaite Limited (Registered number: 04848949)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Harthwaite 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.

The presentation currency of the financial statements is the Pound Sterling (£) and the amounts in the financial statements have been rounded to the nearest £1.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Fixtures and fittings & computer
equipment

-

33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments, bank balances and any group borrowings, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, loans and any group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Harthwaite Limited (Registered number: 04848949)

Notes to the Financial Statements - continued
for the year ended 30 April 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 balance sheet 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investment property
In accordance with FRS102, the company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. Any surplus or deficit on revaluation of such properties is transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. This policy represents a departure from the requirements of the Companies Act, which requires depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings &
Plant and Motor computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 May 2023 2,717,734 59,061 44,547 2,821,342
Additions 1,284 33,698 249 35,231
At 30 April 2024 2,719,018 92,759 44,796 2,856,573
DEPRECIATION
At 1 May 2023 1,247,701 38,115 36,150 1,321,966
Charge for year 294,007 13,661 2,432 310,100
At 30 April 2024 1,541,708 51,776 38,582 1,632,066
NET BOOK VALUE
At 30 April 2024 1,177,310 40,983 6,214 1,224,507
At 30 April 2023 1,470,033 20,946 8,397 1,499,376


Harthwaite Limited (Registered number: 04848949)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 May 2023
and 30 April 2024 967,586
NET BOOK VALUE
At 30 April 2024 967,586
At 30 April 2023 967,586

The property was valued on an open market basis by the directors on 30 April 2024 at £967,586. On a historical cost basis, freehold land and buildings would have been included at £759,806 (2023: £759,806).

6. STOCKS
2024 2023
£ £
Stock 600,000 600,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Due from related company 184,123 84,417
VAT - 129,587
184,123 214,004

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxation and social security 36,582 108
Other creditors 293,115 198,910
329,697 199,018

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 500,000 500,000

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax
Accelerated capital allowances 105,007 94,701

Harthwaite Limited (Registered number: 04848949)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 May 2023 94,701
Provided during year 10,306
Balance at 30 April 2024 105,007

Deferred tax has bee calculated using a tax rate of 19% (2023: 19%).

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary £1 1 1

12. RESERVES
Revaluation
reserve
£
At 1 May 2023
and 30 April 2024 207,780

13. RELATED PARTY DISCLOSURES

In the directors' opinion the company is controlled by Mr SI Reay, the director of the company, by virtue of his shareholding.

During the year the company received amounts for rent, management charges and hire of plant with an operator, all in the normal course of business, totalling £426,667 (2023: £350,000) from Lakeland Laser Limited, a business which is controlled by the director, Mr SI Reay and his immediate family.