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Registration number: 11080411

Harveys Mechanical Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Harveys Mechanical Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Harveys Mechanical Limited

Company Information

Director

A J Kinehan

Registered office

Unit 4 Le Flaive Business Park
Church Lane
High Wycombe
Buckinghamshire
HP14 4US

Accountants

Barrys Accountants Limited
Chartered Certified Accountants
35A Hazlemere Road
Penn
High Wycombe
Buckinghamshire
HP10 8AD

 

Harveys Mechanical Limited

(Registration number: 11080411)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

786

909

Current assets

 

Stocks

5

1,800

1,800

Debtors

6

243,600

311,408

Cash at bank and in hand

 

12,650

39,224

 

258,050

352,432

Creditors: Amounts falling due within one year

7

(141,913)

(270,605)

Net current assets

 

116,137

81,827

Net assets

 

116,923

82,736

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

116,823

82,636

Shareholders' funds

 

116,923

82,736

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 March 2025
 

.........................................
A J Kinehan
Director

 

Harveys Mechanical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 4 Le Flaive Business Park
Church Lane
High Wycombe
Buckinghamshire
HP14 4US
UK

These financial statements were authorised for issue by the director on 21 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Harveys Mechanical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Straight Line

Motor Vehicles

25% Reducing Balance

Office Equipment

33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Harveys Mechanical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 5).

 

Harveys Mechanical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

2,947

2,550

3,189

8,686

Additions

-

-

269

269

At 30 November 2024

2,947

2,550

3,458

8,955

Depreciation

At 1 December 2023

2,947

1,945

2,885

7,777

Charge for the year

-

155

237

392

At 30 November 2024

2,947

2,100

3,122

8,169

Carrying amount

At 30 November 2024

-

450

336

786

At 30 November 2023

-

605

304

909

5

Stocks

2024
£

2023
£

Other inventories

1,800

1,800

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

233,817

138,308

Amounts owed by related parties

10

100

152,709

Prepayments

 

5,470

6,454

Other debtors

 

4,213

13,937

   

243,600

311,408

7

Creditors

Creditors: amounts falling due within one year

 

Harveys Mechanical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

62,389

244,911

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

58,840

-

Taxation and social security

 

15,328

13,697

Accruals and deferred income

 

5,356

11,997

 

141,913

270,605

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

9,704

1,601

Later than one year and not later than five years

16,766

-

26,470

1,601

The amount of non-cancellable operating lease payments recognised as an expense during the year was £9,448 (2023 - £3,735).

10

Related party transactions

Loans to related parties

2024

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

100

152,609

152,709

Repaid

-

(152,609)

(152,609)

At end of period

100

-

100

 

Harveys Mechanical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2023

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

100

152,609

152,709

At end of period

100

152,609

152,709

Loans from related parties

2024

Entities with joint control or significant influence
£

Total
£

Advanced

58,840

58,840

At end of period

58,840

58,840

11

Parent and ultimate parent undertaking

The company's immediate parent is L Harvey & Son Group Limited, incorporated in England & Wales.

 The most senior parent entity producing publicly available financial statements is L Harvey & Son Group Limited. These financial statements are available upon request from Unit 4 Le Flaive Business Centre, Naphill, Bucks, HP14 4US

 The ultimate controlling party is G L Harvey.