REGISTERED NUMBER: 01133249 (England and Wales)

H.F. Hart Limited

Financial Statements

for the Year Ended 30th September 2024

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

11,662

14,653

Investment property

5

375,000

375,000

386,662

389,653

CURRENT ASSETS

Stocks

295,566

350,155

Debtors

6

493,134

754,519

Investments

7

117

117

Cash at bank

1,882

1,962

790,699

1,106,753

CREDITORS

Amounts falling due within one year

8

345,089

625,451

NET CURRENT ASSETS

445,610

481,302

TOTAL ASSETS LESS CURRENT LIABILITIES

832,272

870,955

CREDITORS

Amounts falling due after more than one year

9

7,500

20,904

NET ASSETS

824,772

850,051

CAPITAL AND RESERVES

Called up share capital

24,000

24,000

Fair value reserve

10

334,989

334,989

Retained earnings

465,783

491,062

SHAREHOLDERS' FUNDS

824,772

850,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th June 2025 and were signed on its behalf by:

J F Hart - Director

Mrs P C Hart - Director

1.	STATUTORY INFORMATION

H.F. Hart Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01133249

Registered office:

38 Dollar Street

Cirencester

Gloucestershire

GL7 2AN

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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tenant's improvements

-

15% to 20% on reducing balance

Plant and machinery

-

at variable rates on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments

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

Pension costs and 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 AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Tenant's

Plant and

Motor

improvements

machinery

vehicles

Totals

£

£

£

£

COST

At 1st October 2023

86,837

116,123

36,771

239,731

Additions

-

625

-

625

At 30th September 2024

86,837

116,748

36,771

240,356

DEPRECIATION

At 1st October 2023

86,656

115,268

23,154

225,078

Charge for year

25

187

3,404

3,616

At 30th September 2024

86,681

115,455

26,558

228,694

NET BOOK VALUE

At 30th September 2024

156

1,293

10,213

11,662

At 30th September 2023

181

855

13,617

14,653

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st October 2023

and 30th September 2024

375,000

NET BOOK VALUE

At 30th September 2024

375,000

At 30th September 2023

375,000

Investment property was valued on an open market basis on 24th February 2025 by J F Hart.

Fair value at 30th September 2024 is represented by:

£

Valuation in 2017

134,989

Valuation in 2021

200,000

Cost

40,011

375,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

54,516

84,925

Social security and other tax

86,766

89,816

Other debtors

20,298

19,123

Loan - J J Power Limited

-

130,000

BHI Farming Limited Loan

215,404

215,404

Directors' current accounts

112,949

212,032

Prepayments

3,201

3,219

493,134

754,519

7.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Other

117

117

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

190,389

210,329

Hire purchase contracts

3,404

6,568

Trade creditors

98,501

137,244

Other creditors

52,795

271,310

345,089

625,451

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

7,500

17,500

Hire purchase contracts

-

3,404

7,500

20,904

10.

RESERVES

Fair

value

reserve

£

At 1st October 2023

and 30th September 2024

334,989

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th September 2024 and 30th September 2023:

2024

2023

£

£

J F Hart and Mrs P C Hart

Balance outstanding at start of year

212,032

230,471

Amounts advanced

150,416

195,061

Amounts repaid

(249,499

)

(213,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

112,949

212,032