REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
30 May 2024 |
for |
C.F.Harris Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
30 May 2024 |
for |
C.F.Harris Limited |
C.F.Harris Limited (Registered number: 00290568) |
Contents of the Financial Statements |
for the Year Ended 30 May 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
C.F.Harris Limited (Registered number: 00290568) |
Balance Sheet |
30 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
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. |
C.F.Harris Limited (Registered number: 00290568) |
Balance Sheet - continued |
30 May 2024 |
The financial statements were approved by the director and authorised for issue on |
C.F.Harris Limited (Registered number: 00290568) |
Notes to the Financial Statements |
for the Year Ended 30 May 2024 |
1. | STATUTORY INFORMATION |
C.F.Harris Limited is a |
Registered number: |
Registered office: |
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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to give a true and fair view. |
The financial statements have been prepared under the historical cost convention. |
Turnover |
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. |
Tangible fixed assets |
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment. |
Depreciation is provided on all tangible assets, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows: |
Freehold property | - 10 years straight line |
Plant & machinery | - 10 to 20 years straight line |
Fixtures & fittings | - 4 years straight line |
Motor vehicles | - 4 years straight line |
Office equipment | - 4 years straight line |
Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life. |
The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account. |
C.F.Harris Limited (Registered number: 00290568) |
Notes to the Financial Statements - continued |
for the Year Ended 30 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by shareholders at an Annual General Meeting. |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors and other creditors. |
Trade debtors, other debtors, cash and bank balances, trade creditors, and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received. |
Provisions for liabilities |
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in the Statement of |
Financial Position. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
C.F.Harris Limited (Registered number: 00290568) |
Notes to the Financial Statements - continued |
for the Year Ended 30 May 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 31 May 2023 |
Additions |
At 30 May 2024 |
DEPRECIATION |
At 31 May 2023 |
Charge for year |
At 30 May 2024 |
NET BOOK VALUE |
At 30 May 2024 |
At 30 May 2023 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
C.F.Harris Limited (Registered number: 00290568) |
Notes to the Financial Statements - continued |
for the Year Ended 30 May 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | PROVISIONS FOR LIABILITIES |
Restoration |
Provision |
£ |
At 30 May 2023 | 850,356 |
Charged to profit or loss | 201,048 |
At 30 May 2024 | 1,051,404 |
Restoration provision |
As set out in the Deed of Trust and Escrow between the Company and the Environment Agency dated 22 May 2006 in relation to the specified waste management activity at Sherburn Quarry the Company is required to maintain adequate financial provision in relation to its duties as permit holder under the Pollution, Prevention and Control Regulations 2000. |
This required the Company to pay sums into an Escrow account in respect of tonnes of waste deposited at the quarry over the five years from the date of the trust deed, such sums which shall be held by the Environment Agency until all of the Company's obligations in relation to the quarry pursuant to the Pollution, Prevention and Control Regulations have been wholly discharged, for these purposes being 60 years from the date of the deed. In accordance with the deed the Agency will withdraw monies from the account to satisfy its expenses in checking compliance with the Regulations. |
10. | CALLED UP SHARE CAPITAL |
2024 | 2023 |
£ | £ |
Allotted, issued and fully paid | 5,000 | 5,000 |
8.75% preference shares of £1.00 each | 15,000 | 15,000 |
20,000 | 20,000 |
The preference shares carry the right to receive cumulative dividends first out of any profits distributed and to receive capital and accrued dividends first in the event of winding up. They carry no voting rights and are non-redeemable. |
11. | RELATED PARTY DISCLOSURES |
At the balance sheet date £203,786 (2023 - £88,697) was owed to entities under common control or controlled by close family members, of the director and shareholder of C.F. Harris Limited, and £2,678,793 (2023 - £2,273,509) was owed by entities under common control or controlled by close family members, of the director and shareholder of C.F. Harris Limited. |