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REGISTERED NUMBER: 11641173 (England and Wales)





FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024

FOR

HARGASSNER BIOMASS HEATING LTD

HARGASSNER BIOMASS HEATING LTD (REGISTERED NUMBER: 11641173)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


HARGASSNER BIOMASS HEATING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







Directors: D C Hardwicke
H Schwarz
C Siessl





Registered office: 215b Holme Lacy Road
Hereford
HR2 6BQ





Registered number: 11641173 (England and Wales)

HARGASSNER BIOMASS HEATING LTD (REGISTERED NUMBER: 11641173)

BALANCE SHEET
31ST DECEMBER 2024

31.12.24 31.12.23
Notes £ £ £ £
Fixed assets
Tangible assets 4 137,706 108,802

Current assets
Stocks 5 347,502 327,909
Debtors 6 213,003 179,370
Cash at bank and in hand 123,177 164,497
683,682 671,776
Creditors
Amounts falling due within one year 7 350,784 445,265
Net current assets 332,898 226,511
Total assets less current liabilities 470,604 335,313

Provisions for liabilities 9 34,500 27,300
Net assets 436,104 308,013

Capital and reserves
Called up share capital 10 10,000 10,000
Retained earnings 426,104 298,013
Shareholders' funds 436,104 308,013

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st March 2025 and were signed on its behalf by:





C Siessl - Director


HARGASSNER BIOMASS HEATING LTD (REGISTERED NUMBER: 11641173)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. Statutory information

Hargassner Biomass Heating Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from resting, servicing and repair work is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to work performed.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Tangible fixed assets are recognised in the balance sheet 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 & machinery20% on cost
Fixtures & fittings33% on cost
Motor vehicles20% on cost

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

HARGASSNER BIOMASS HEATING LTD (REGISTERED NUMBER: 11641173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 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.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.




HARGASSNER BIOMASS HEATING LTD (REGISTERED NUMBER: 11641173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. Accounting policies - continued

Classification of financial liabilities
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 group after deducing all of its liabilities.
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HARGASSNER BIOMASS HEATING LTD (REGISTERED NUMBER: 11641173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. Accounting policies - continued

Hire purchase & 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.

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

Pension costs & 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 (including officers)

The average number of employees during the year was 12 (2023 - 10 ) .

4. Tangible fixed assets
Plant & Fixtures & Motor
machinery fittings vehicles Totals
£ £ £ £
Cost
At 1st January 2024 30,236 12,557 173,993 216,786
Additions 4,735 - 78,540 83,275
Disposals (2,940 ) (2,174 ) (26,600 ) (31,714 )
At 31st December 2024 32,031 10,383 225,933 268,347
Depreciation
At 1st January 2024 11,277 10,064 86,643 107,984
Charge for year 5,935 2,048 45,186 53,169
Eliminated on disposal (2,940 ) (2,174 ) (25,398 ) (30,512 )
At 31st December 2024 14,272 9,938 106,431 130,641
Net book value
At 31st December 2024 17,759 445 119,502 137,706
At 31st December 2023 18,959 2,493 87,350 108,802

The net book value of tangible fixed assets includes £NIL (2023 - £ 11,515 ) in respect of assets held under hire purchase contracts.

HARGASSNER BIOMASS HEATING LTD (REGISTERED NUMBER: 11641173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


5. Stocks
31.12.24 31.12.23
£ £
Stocks 347,502 327,909

6. Debtors: amounts falling due within one year
31.12.24 31.12.23
£ £
Trade debtors 47,334 98,639
Prepayments & accrued income 165,669 80,731
213,003 179,370

7. Creditors: amounts falling due within one year
31.12.24 31.12.23
£ £
Hire purchase contracts (see note 8) - 7,014
Trade creditors 15,133 8,866
Amounts owed to group undertakings 118,168 195,614
Corporation tax 36,200 34,755
Social security & other tax 57,888 64,152
Other creditors - 3,314
Accruals & deferred income 123,395 131,550
350,784 445,265

8. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

31.12.24 31.12.23
£ £
Net obligations repayable:
Within one year - 7,014

9. Provisions for liabilities
31.12.24 31.12.23
£ £
Deferred tax 34,500 27,300

HARGASSNER BIOMASS HEATING LTD (REGISTERED NUMBER: 11641173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


9. Provisions for liabilities - continued

Deferred tax
£
Balance at 1st January 2024 27,300
Accelerated capital allowances 7,200
Balance at 31st December 2024 34,500

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £ £
10,000 Ordinary £1 10,000 10,000

11. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Chris Duckett (Senior Statutory Auditor)
for and on behalf of Chris Duckett Limited

12. Contingent liabilities & lease commitments

There were no contingent liabilities or lease commitments as at 31st December 2024.

13. Related party disclosures

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.

14. Controlling party

The controlling party is Hargassner Industry GmbH, a company incorporated in Austria.

The ultimate controlling party is Hargassner Holding GmbH, a company incorporated in Austria.

Registered offices:
Anton Hargassner
Strasse 1
4952 Weng im Innkreis