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Registered number: 08071039
Harrity Building & Construction Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08071039
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 138,707 131,984
138,707 131,984
CURRENT ASSETS
Stocks 5 1,917 -
Debtors 6 387,124 259,935
Cash at bank and in hand 862,153 601,084
1,251,194 861,019
Creditors: Amounts Falling Due Within One Year 7 (517,923 ) (271,607 )
NET CURRENT ASSETS (LIABILITIES) 733,271 589,412
TOTAL ASSETS LESS CURRENT LIABILITIES 871,978 721,396
Creditors: Amounts Falling Due After More Than One Year 8 (101,161 ) (124,005 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (36,307 ) -
NET ASSETS 734,510 597,391
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 734,509 597,390
SHAREHOLDERS' FUNDS 734,510 597,391
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christian Harrity
Director
11 February 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Harrity Building & Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08071039 . The registered office is Unit 5 Henfield Business Park, Shorham Road, Henfield, West Sussex, BN5 9SL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 7,830 228,675 6,379 242,884
Additions - 54,703 883 55,586
Disposals - (44,249 ) - (44,249 )
As at 31 May 2024 7,830 239,129 7,262 254,221
Depreciation
As at 1 June 2023 3,516 103,580 3,804 110,900
Provided during the period 1,078 28,271 846 30,195
Disposals - (25,581 ) - (25,581 )
As at 31 May 2024 4,594 106,270 4,650 115,514
Net Book Value
As at 31 May 2024 3,236 132,859 2,612 138,707
As at 1 June 2023 4,314 125,095 2,575 131,984
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 98,648 -
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5. Stocks
2024 2023
£ £
Materials 1,917 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 260,386 259,935
Amounts owed by participating interests 122,521 -
Other debtors 4,217 -
387,124 259,935
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,928 35,670
Trade creditors 236,167 90,615
Bank loans and overdrafts 10,000 8,333
Other creditors 169,744 99,609
Taxation and social security 85,084 37,380
517,923 271,607
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 90,531 99,005
Bank loans 10,630 25,000
101,161 124,005
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 22,825 35,670
Later than one year and not later than five years 97,991 99,005
120,816 134,675
Less: Finance charges allocated to future periods 13,357 -
107,459 134,675
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 36,307 -
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
12. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Christian Harrity 96,183 48,617 - - 47,566
The above loan is unsecured, interest free, repayable on demand and ranks equally with other unsecured creditors of the company.
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr C Harrity by virtue of his ownership of 100% of the issued share capital in the company.
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