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REGISTERED NUMBER: 01177706 (England and Wales)















Financial Statements for the Year Ended 31 October 2024

for

Harrison Oils Limited

Harrison Oils Limited (Registered number: 01177706)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harrison Oils Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: R Harrison
J M B Harrison





SECRETARY: R Harrison





REGISTERED OFFICE: Park Hill
Moss Lane
Garstang
Preston
Lancashire
PR3 1HB





REGISTERED NUMBER: 01177706 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

Harrison Oils Limited (Registered number: 01177706)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 503,038 515,383
Investments 5 - 559
Investment property 6 145,000 170,000
648,038 685,942

CURRENT ASSETS
Stocks 160,463 190,345
Debtors 7 990,172 1,285,905
Cash at bank 2,489,505 1,962,073
3,640,140 3,438,323
CREDITORS
Amounts falling due within one year 8 846,314 998,744
NET CURRENT ASSETS 2,793,826 2,439,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,441,864

3,125,521

PROVISIONS FOR LIABILITIES 10 125,760 129,437
NET ASSETS 3,316,104 2,996,084

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 3,306,104 2,986,084
SHAREHOLDERS' FUNDS 3,316,104 2,996,084

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Harrison Oils Limited (Registered number: 01177706)

Balance Sheet - continued
31 October 2024


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 26 June 2025 and were signed on its behalf by:





R Harrison - Director


Harrison Oils Limited (Registered number: 01177706)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Harrison Oils Limited 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 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.
Improvements to leasehold property - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Computer equipment, fixtures and fittings - 33% on cost and 15% 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.

Financial instruments
Under FRS 102 1A derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

The fixed asset investments held are equity funds. Unrealised gains are not taxable on these therefore the assets are included on the balance sheet at historical cost.

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.


Harrison Oils Limited (Registered number: 01177706)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued
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 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Computer
Improvements equipment,
to fixtures
leasehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 12,676 139,328 54,529 867,963 1,074,496
Additions - 610 15,080 147,165 162,855
Disposals - - (11,303 ) (120,611 ) (131,914 )
At 31 October 2024 12,676 139,938 58,306 894,517 1,105,437
DEPRECIATION
At 1 November 2023 10,566 130,522 45,564 372,461 559,113
Charge for year 213 1,335 5,831 130,865 138,244
Eliminated on disposal - - (8,358 ) (86,600 ) (94,958 )
At 31 October 2024 10,779 131,857 43,037 416,726 602,399
NET BOOK VALUE
At 31 October 2024 1,897 8,081 15,269 477,791 503,038
At 31 October 2023 2,110 8,806 8,965 495,502 515,383

Harrison Oils Limited (Registered number: 01177706)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1 November 2023 559
Additions 31
Disposals (590 )
At 31 October 2024 -
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 559

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 170,000
Revaluations (25,000 )
At 31 October 2024 145,000
NET BOOK VALUE
At 31 October 2024 145,000
At 31 October 2023 170,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2006 142
Valuation in 2018 (18,000 )
Valuation in 2021 (10,000 )
Valuation in 2022 37,000
Valuation in 2023 (7,000 )
Valuation in 2024 (25,000 )
Cost 167,858
145,000

The investment property is included at open market value at the balance sheet date. The valuation has been carried out and provided by R Harrison, a director of the company, based on a current estate agent valuation and the property being openly marketed at this price.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 903,329 1,124,911
VAT 69,251 71,491
Prepayments 17,592 89,503
990,172 1,285,905

Harrison Oils Limited (Registered number: 01177706)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 652,405 806,609
Corporation tax 145,969 153,974
Social security and other taxes 13,020 12,462
Directors' current accounts 22,600 16,800
Accrued expenses 12,320 8,899
846,314 998,744

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.24 31.10.23
£    £   
Within one year - 120

10. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 125,760 129,437

Deferred
tax
£   
Balance at 1 November 2023 129,437
Credit to Statement of Income and Retained Earnings during year (3,677 )
Balance at 31 October 2024 125,760