E G Harwood (Trading) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01020214 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

E G Harwood (Trading) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C M Crutchley

T G Richmond

REGISTERED OFFICE:

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

BUSINESS ADDRESS:

c/o 43 Thorley Hill

Bishop's Stortford

Hertfordshire

CM23 3NE

REGISTERED NUMBER:

01020214 (England and Wales)

ACCOUNTANTS:

Bullimores LLP

Chartered Accountants

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

FIXED ASSETS

Investment property

4

313,500

CURRENT ASSETS

Stocks

1,389,419

Debtors

5

5,400

5,067

1,394,819

1,394,486

CREDITORS

Amounts falling due within one year

6

914,883

959,057

NET CURRENT ASSETS

479,936

435,429

TOTAL ASSETS LESS CURRENT
LIABILITIES

793,436

748,929

PROVISIONS FOR LIABILITIES

7

46,500

NET ASSETS

746,936

702,429

CAPITAL AND RESERVES

Called up share capital

40,000

Retained earnings

706,936

662,429

SHAREHOLDERS' FUNDS

746,936

702,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 11 June 2025 and were signed on its behalf by:

C M Crutchley - Director

1.	STATUTORY INFORMATION

E G Harwood (Trading) Limited is a private limited company, registered and incorporated in England. The address of its registered office is c/o Bullimores LLP, Old Printers Yard, 156 South Street, Dorking, Surrey, RH4 2HF.

The company's principal activities were property developing and jobbing building. During the year the company also received rental income.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Investment property

Investment property is carried at fair value determined annually by the directors on an open market less a discount factor according to the tenants tenure. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

313,500

NET BOOK VALUE

At 31 December 2024

313,500

At 31 December 2023

313,500

The 2023 valuations were made by the directors, on an open market value less a discount factor according to the tenant's tenure.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Prepayments

5,400

5,067

Short term debtors 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.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed to group undertakings

891,883

936,557

Tax

20,000

Accruals and deferred income

3,000

2,500

914,883

959,057

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

7.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

46,500

Deferred

tax

£

Balance at 1 January 2024

46,500

Balance at 31 December 2024

46,500

The provision for deferred taxation is made up as follows:

2023

2022

£

Unrealised uplift in value of investment property

(46,500

)

(35,382

)