Silverfin false false 31/12/2024 01/01/2024 31/12/2024 N J Harris 13/02/2013 J M Tanner 23/11/2020 16 June 2025 The principle activity of the company during the year was the provision of administration services to other companies. The company also sources and provides financing and rents a freehold property. 08400414 2024-12-31 08400414 bus:Director1 2024-12-31 08400414 bus:Director2 2024-12-31 08400414 2023-12-31 08400414 core:CurrentFinancialInstruments 2024-12-31 08400414 core:CurrentFinancialInstruments 2023-12-31 08400414 core:Non-currentFinancialInstruments 2024-12-31 08400414 core:Non-currentFinancialInstruments 2023-12-31 08400414 core:ShareCapital 2024-12-31 08400414 core:ShareCapital 2023-12-31 08400414 core:RetainedEarningsAccumulatedLosses 2024-12-31 08400414 core:RetainedEarningsAccumulatedLosses 2023-12-31 08400414 core:PlantMachinery 2023-12-31 08400414 core:Vehicles 2023-12-31 08400414 core:FurnitureFittings 2023-12-31 08400414 core:PlantMachinery 2024-12-31 08400414 core:Vehicles 2024-12-31 08400414 core:FurnitureFittings 2024-12-31 08400414 bus:OrdinaryShareClass1 2024-12-31 08400414 bus:OrdinaryShareClass2 2024-12-31 08400414 2024-01-01 2024-12-31 08400414 bus:FilletedAccounts 2024-01-01 2024-12-31 08400414 bus:SmallEntities 2024-01-01 2024-12-31 08400414 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08400414 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08400414 bus:Director1 2024-01-01 2024-12-31 08400414 bus:Director2 2024-01-01 2024-12-31 08400414 core:PlantMachinery 2024-01-01 2024-12-31 08400414 core:Vehicles core:TopRangeValue 2024-01-01 2024-12-31 08400414 core:FurnitureFittings 2024-01-01 2024-12-31 08400414 core:FurnitureFittings core:TopRangeValue 2024-01-01 2024-12-31 08400414 2023-01-01 2023-12-31 08400414 core:Vehicles 2024-01-01 2024-12-31 08400414 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 08400414 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 08400414 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08400414 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 08400414 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08400414 (England and Wales)

HARD 8 LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

HARD 8 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

HARD 8 LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
HARD 8 LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
DIRECTORS N J Harris
J M Tanner
SECRETARY G Henley
REGISTERED OFFICE The Shed
Charbridge Lane
Bicester
Oxfordshire
OX26 4SS
United Kingdom
COMPANY NUMBER 08400414 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
United Kingdom
HARD 8 LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
HARD 8 LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,504,791 1,727,903
Investment property 4 9,547,030 9,853,419
11,051,821 11,581,322
Current assets
Debtors 5 3,501,931 4,678,253
Cash at bank and in hand 212,090 1,051,551
3,714,021 5,729,804
Creditors: amounts falling due within one year 6 ( 275,134) ( 577,123)
Net current assets 3,438,887 5,152,681
Total assets less current liabilities 14,490,708 16,734,003
Creditors: amounts falling due after more than one year 7 ( 14,058,423) ( 15,463,671)
Net assets 432,285 1,270,332
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 432,185 1,270,232
Total shareholders' funds 432,285 1,270,332

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Hard 8 Limited (registered number: 08400414) were approved and authorised for issue by the Board of Directors on 16 June 2025. They were signed on its behalf by:

N J Harris
Director
HARD 8 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
HARD 8 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hard 8 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Shed, Charbridge Lane, Bicester, Oxfordshire, OX26 4SS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for consultancy services and the sale of stock net of VAT. Other operating income represents rent receivable.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 0 - 100 % reducing balance
Vehicles 8 years straight line
Fixtures and fittings 0 - 100 % reducing balance
5 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 January 2024 2,910,466 0 353,589 3,264,055
Additions 0 77,495 0 77,495
Disposals ( 435,163) 0 0 ( 435,163)
At 31 December 2024 2,475,303 77,495 353,589 2,906,387
Accumulated depreciation
At 01 January 2024 1,183,926 0 352,226 1,536,152
Charge for the financial year 258,093 3,264 1,363 262,720
Disposals ( 397,276) 0 0 ( 397,276)
At 31 December 2024 1,044,743 3,264 353,589 1,401,596
Net book value
At 31 December 2024 1,430,560 74,231 0 1,504,791
At 31 December 2023 1,726,540 0 1,363 1,727,903

4. Investment property

Investment property
£
Valuation
As at 01 January 2024 9,853,419
Disposals (306,389)
As at 31 December 2024 9,547,030

Investment property brought forward comprises The Muddy Duck Staff House, Hethe, The Muddy Duck Pub, The Shed, Bicester and Eagles, Deddington.

The fair value of the The Muddy Duck Staff House, Hethe and The Muddy Duck Pub have been arrived at on the basis of a valuation carried out in April 2015 by Lambert Smith Hampton, who are not connected with the company. The valuations of £365,000 and £2,250,000 were made on an open market value basis by reference to market evidence of transaction prices for similar properties. The valuation for The Muddy Duck Pub included fixtures and fittings and plant and machinery which are not shown in the investment property value above because they are included in tangible assets.

In November 2016 Hard 8 Limited purchased The Shed, Bicester. The purchase was made on an open market basis. During the year improvements have been made to the property. The directors consider the cost to reflect the fair value at the year end.

In December 2017 Hard 8 purchased Eagles, Market Place, Deddington. The purchase was made on an open market basis. The directors consider the cost to reflect the fair value at the year end.

5. Debtors

2024 2023
£ £
Prepayments 29,932 30,571
Other debtors 3,471,999 4,647,682
3,501,931 4,678,253

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 23,216 21,544
Taxation and social security 63,705 215,331
Obligations under finance leases and hire purchase contracts 7,860 0
Other creditors 180,353 340,248
275,134 577,123

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,737,000 4,986,000
Amounts owed to directors 9,262,156 10,477,671
Obligations under finance leases and hire purchase contracts 59,267 0
14,058,423 15,463,671

There are no amounts included above in respect of which any security has been given by the small entity.

Included in creditors due after more than one year is the directors loan balance due to N J Harris at 31 December 2023 of £9,262,156 (2023: £10,477,671).

The long-term bank loans are secured by fixed charges registered by Coutts & Company over 28 Hardwick Road, Unit 2 Bicester Park, Eagles Market Place Deddington and The Muddy Duck Hethe. There is also a cross guarantee placed on the assets of Absolute Taste Limited and The Menu Partners Limited by Coutts & Company . Coutts & Company also have a fixed and floating charge over all the property or undertaking of the company. This charge contains a negative pledge.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100

9. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 7,809 0

10. Related party transactions

During the year ended 31 December 2024, the company made sales totalling £861,657 (2023: £638,696) to companies under common control and received rental income totalling £1,028,219 (2023: £1,147,778).

As at 31 December 2024, the company was owed by companies under common control £3,472,008 (2023: £4,647,681).

As at 31 December 2024, the company owed the companies under common control £26,441 (2023: £187,800).

As at 31 December 2024, the company owed directors £9,307,156 (2023: £10,507,671). £45,000 is included within creditors due within one year and £9,262,156 is included within creditors due after more than one year (2023: £30,000 within creditors due within one year and £10,477,671 due after more than one year). No interest has been charged on these loans.

11. Ultimate controlling party

The company was under the control of it's directors who own 100% of the share capital.