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Registered number: 06513814
Harwood Shropshire Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Greenbridge Consultancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06513814
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 177,435 192,992
Investment Properties 6 94,398 233,791
271,833 426,783
CURRENT ASSETS
Debtors 7 143,102 82,856
Cash at bank and in hand 26,250 47,704
169,352 130,560
Creditors: Amounts Falling Due Within One Year 8 (70,637 ) (97,519 )
NET CURRENT ASSETS (LIABILITIES) 98,715 33,041
TOTAL ASSETS LESS CURRENT LIABILITIES 370,548 459,824
Creditors: Amounts Falling Due After More Than One Year 9 (36,525 ) (56,659 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,339 ) (4,560 )
NET ASSETS 332,684 398,605
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 332,682 398,603
SHAREHOLDERS' FUNDS 332,684 398,605
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
P Smitheman
Director
29/04/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Harwood Shropshire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06513814 . The registered office is 2-3 The Instones Building, The Square, Broseley, Shropshire, TF12 5EW.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
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:
Freehold 2% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 11)
15 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 20,000
As at 31 July 2024 20,000
Amortisation
As at 1 August 2023 20,000
As at 31 July 2024 20,000
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 August 2023 124,660 124,868 60,362 309,890
Additions - 4,250 - 4,250
As at 31 July 2024 124,660 129,118 60,362 314,140
Depreciation
As at 1 August 2023 6,646 95,161 15,091 116,898
Provided during the period - 8,489 11,318 19,807
As at 31 July 2024 6,646 103,650 26,409 136,705
Net Book Value
As at 31 July 2024 118,014 25,468 33,953 177,435
As at 1 August 2023 118,014 29,707 45,271 192,992
Page 4
Page 5
6. Investment Property
2024
£
Fair Value
As at 1 August 2023 233,791
Disposals (139,393 )
As at 31 July 2024 94,398
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,661 43,289
Other debtors 12,541 29,567
Directors' loan accounts 10,000 10,000
42,202 82,856
Due after more than one year
Other debtors 100,900 -
143,102 82,856
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,797 28,665
Bank loans and overdrafts 10,289 10,648
Other loans 10,455 10,455
Corporation tax 18,021 25,512
Other taxes and social security 25,022 21,513
Other creditors 2,053 726
70,637 97,519
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,773 18,452
Other loans 27,752 38,207
36,525 56,659
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mrs Anne Smitheman 5,000 - - - 5,000
Mr Patrick Smitheman 5,000 - - - 5,000
The above loans are unsecured and interest free.
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