Registered number
04153788
Hartech Automation Limited
Unaudited Filleted Accounts
30 April 2024
Hartech Automation Limited
Registered number: 04153788
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 26,292 40,790
Current assets
Work in progress 106,943 131,725
Debtors 4 146,330 140,589
Cash at bank and in hand 80,962 98,020
334,235 370,334
Creditors: amounts falling due within one year 5 (160,040) (124,189)
Net current assets 174,195 246,145
Total assets less current liabilities 200,487 286,935
Creditors: amounts falling due after more than one year 6 (119,331) (161,495)
Provisions for liabilities (4,995) (7,750)
Net assets 76,161 117,690
Capital and reserves
Called up share capital 100 100
Profit and loss account 76,061 117,590
Shareholders' funds 76,161 117,690
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mark Hardy
Director
Approved by the board on 29 January 2025
Hartech Automation Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 rendering of services which 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% straight line
Work in progress
Work in progress is valued as a percentage of the completed contract less the value of sales invoices issued. Provision is made for any foreseeable losses where appropriate.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 26,447 48,335 74,782
Additions 2,428 - 2,428
At 30 April 2024 28,875 48,335 77,210
Depreciation
At 1 May 2023 16,873 17,119 33,992
Charge for the year 4,842 12,084 16,926
At 30 April 2024 21,715 29,203 50,918
Net book value
At 30 April 2024 7,160 19,132 26,292
At 30 April 2023 9,574 31,216 40,790
4 Debtors 2024 2023
£ £
Trade debtors 84,390 77,123
Other debtors 61,940 63,466
146,330 140,589
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 36,825 38,451
Obligations under finance lease and hire purchase contracts 5,339 5,339
Trade creditors 32,145 19,070
Taxation and social security costs 38,912 29,446
Other creditors 46,819 31,883
160,040 124,189
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 93,637 130,462
Obligations under finance lease and hire purchase contracts 25,694 31,033
119,331 161,495
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 2,235
Secured bank loans 109,535 136,984
The loans are secured by way of a personal guarantee from the director, Mark Hardy.
8 Related party transactions
The director, Mark Hardy, mainted a loan with the company. At the year end the company owed Mark Hardy £4,046 (2023 - £9,417).
Transactions with entities under common control 2024 2023
£ £
Monies received on behalf on entity under common control - 50,000
Expenses paid on behalf on entity under common control 10,000 124,750
Balance (due from) entity under common control (60,000) (50,000)
9 Controlling party
The ultimate controlling party is the director and majority shareholder, Mark Hardy.
10 Other information
Hartech Automation Limited is a private company limited by shares and incorporated in England. Its registered office is:
23 Whittonstall
Fatfield
Washington
Tyne and Wear
NE38 8PH
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