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REGISTERED NUMBER: 10258026 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

HARDWARE LANE DISTRIBUTORS LIMITED

HARDWARE LANE DISTRIBUTORS LIMITED (REGISTERED NUMBER: 10258026)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HARDWARE LANE DISTRIBUTORS LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: C A Lane
S A Seear





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 10258026 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

HARDWARE LANE DISTRIBUTORS LIMITED (REGISTERED NUMBER: 10258026)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,700 2,442

CURRENT ASSETS
Stocks 193,395 100,620
Debtors 5 485,947 196,990
Cash at bank 98,895 168,646
778,237 466,256
CREDITORS
Amounts falling due within one year 6 553,720 269,640
NET CURRENT ASSETS 224,517 196,616
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,217

199,058

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 227,216 199,057
SHAREHOLDERS' FUNDS 227,217 199,058

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 6 March 2025 and were signed on its behalf by:





C A Lane - Director


HARDWARE LANE DISTRIBUTORS LIMITED (REGISTERED NUMBER: 10258026)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Hardware Lane Distributors 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 trading address of the company is Studio, CG 320 Witan Studios, Witan Gate, West Central Milton Keynes, MK9 1EJ.

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.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of 12 months and one day from the date these financial statements were approved. The directors expect the company to continue as a going concern with the additional financial support of its parent company, Australian Homeware Enterprise Pty Limited, as and when required.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
The company has two streams of turnover being:-
1. Merchandise Sales
2. Intercompany sales

Revenue in relation to merchandise is recognised when the delivery of the product is complete and therefore the risks are transferred.

Services are also provided to a fellow group undertaking and turnover is recognised when the service is performed.

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
Tangible fixed assets are measured at cost less depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Plant and machinery etc - Straight line over 5 year and Straight line over 3 years

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


HARDWARE LANE DISTRIBUTORS LIMITED (REGISTERED NUMBER: 10258026)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by Section 12 of FRS102.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

HARDWARE LANE DISTRIBUTORS LIMITED (REGISTERED NUMBER: 10258026)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 9,326
Additions 2,285
At 30 June 2024 11,611
DEPRECIATION
At 1 July 2023 6,884
Charge for year 2,027
At 30 June 2024 8,911
NET BOOK VALUE
At 30 June 2024 2,700
At 30 June 2023 2,442

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 379,674 161,597
Other debtors 106,273 35,393
485,947 196,990

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 160,749 49,823
Amounts owed to group undertakings 337,251 175,000
Taxation and social security 23,883 13,324
Other creditors & accruals 31,837 31,493
553,720 269,640

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 47,040 26,961
Between one and five years 60,830 -
107,870 26,961

HARDWARE LANE DISTRIBUTORS LIMITED (REGISTERED NUMBER: 10258026)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1 Ordinary £1 1 1

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Crowley (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-
"Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

10. RELATED PARTY DISCLOSURES

During the year Hardware Lane Distributors Limited made sales of £490,634 (2023: £388,846) to Asia International Trading, a company under common control. At the year end, Asia International Trading Company Ltd owed Hardware Lane Distributors Limited £78,648 (2023: £57,157).

11. ULTIMATE PARENT COMPANY

The ultimate parent company is Australian Homeware Enterprise Pty Limited a company incorporated in Australia, with its registered office at 143 -147 National Boulevard, Campbellfield, Victoria 3062, Australia. Australian Homeware Enterprise Pty Limited is the largest group company to prepare consolidated financial statements. The consolidated financial statements are publicly available.