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REGISTERED NUMBER: 00782393 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 July 2024

for

A.J.Hart and Son Limited

A.J.Hart and Son Limited (Registered number: 00782393)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.J.Hart and Son Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: T Hipwell
O Hipwell





SECRETARY: T Hipwell





REGISTERED OFFICE: Hill Farm
Little Gransden
Sandy
Bedfordshire
SG19 3DN





REGISTERED NUMBER: 00782393 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

A.J.Hart and Son Limited (Registered number: 00782393)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 113,254 124,883
Investment property 5 590,000 590,000
703,254 714,883

CURRENT ASSETS
Stocks 272,979 338,170
Debtors 6 22,321 42,728
Cash at bank 228 182
295,528 381,080
CREDITORS
Amounts falling due within one year 7 229,575 264,947
NET CURRENT ASSETS 65,953 116,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

769,207

831,016

CREDITORS
Amounts falling due after more than one
year

8

(128,614

)

(137,410

)

PROVISIONS FOR LIABILITIES (108,030 ) (109,842 )
NET ASSETS 532,563 583,764

CAPITAL AND RESERVES
Called up share 9 14,500 14,500
Capital redemption reserve 500 500
Undistributable reserves 297,556 297,556
Retained earnings 220,007 271,208
SHAREHOLDERS' FUNDS 532,563 583,764

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

A.J.Hart and Son Limited (Registered number: 00782393)

Balance Sheet - continued
31 July 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 22 January 2025 and were signed on its behalf by:





T Hipwell - Director


A.J.Hart and Son Limited (Registered number: 00782393)

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

1. STATUTORY INFORMATION

A.J.Hart and Son 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 10% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - Straight line over 3 years
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


A.J.Hart and Son Limited (Registered number: 00782393)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold Long to
property leasehold property
£    £    £   
COST
At 1 August 2023
and 31 July 2024 332,490 10,255 59,614
DEPRECIATION
At 1 August 2023 311,562 5,555 1,883
Charge for year 2,093 470 1,930
At 31 July 2024 313,655 6,025 3,813
NET BOOK VALUE
At 31 July 2024 18,835 4,230 55,801
At 31 July 2023 20,928 4,700 57,731

A.J.Hart and Son Limited (Registered number: 00782393)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 111,000 2,988 63,914 580,261
DEPRECIATION
At 1 August 2023 85,059 2,988 48,331 455,378
Charge for year 3,240 - 3,896 11,629
At 31 July 2024 88,299 2,988 52,227 467,007
NET BOOK VALUE
At 31 July 2024 22,701 - 11,687 113,254
At 31 July 2023 25,941 - 15,583 124,883

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 25,000
DEPRECIATION
At 1 August 2023 13,423
Charge for year 2,894
At 31 July 2024 16,317
NET BOOK VALUE
At 31 July 2024 8,683
At 31 July 2023 11,577

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 590,000
NET BOOK VALUE
At 31 July 2024 590,000
At 31 July 2023 590,000

A.J.Hart and Son Limited (Registered number: 00782393)

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

5. INVESTMENT PROPERTY - continued

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2022 356,741
Valuation in 2023 40,000
Cost 193,259
590,000

The valuation at 31 July 2022 was completed by the Director.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 6,360 22,979
Other debtors 5,334 3,351
Directors' loan accounts 6,878 12,744
Prepayments and accrued income 3,749 3,654
22,321 42,728

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 45,921 14,335
Hire purchase contracts 3,901 3,901
Trade creditors 5,355 32,363
Tax 8,558 38,492
Social security and other taxes 399 1,805
Other creditors 87,243 86,743
Directors' loan accounts 66,087 75,200
Accrued expenses 12,111 12,108
229,575 264,947

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-10 years 127,314 132,208
Hire purchase contracts 1,300 5,202
128,614 137,410

9. CALLED UP SHARE

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
10,000 'A' Ordinary 1.00 10,000 10,000
4,500 Ordinary 1.00 4,500 4,500
14,500 14,500

A.J.Hart and Son Limited (Registered number: 00782393)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
O Hipwell
Balance outstanding at start of year 12,744 -
Amounts advanced 21,394 27,244
Amounts repaid (27,260 ) (14,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,878 12,744