Company registration number 12141985 (England and Wales)
HARRINGTON GROUNDS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HARRINGTON GROUNDS LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
HARRINGTON GROUNDS LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
-
1,000,000
Debtors
1,052,064
200
Cash at bank and in hand
50,982
9,074
1,103,046
1,009,274
Creditors: amounts falling due within one year
(323,899)
(260,368)
Net current assets
779,147
748,906
Capital and reserves
Called up share capital
3
200
200
Profit and loss reserves
778,947
748,706
Total equity
779,147
748,906
For the financial year ended 30 September 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 26 June 2025 and are signed on its behalf by:
Mrs L C G Morgan
Director
Company registration number 12141985 (England and Wales)
HARRINGTON GROUNDS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Harrington Grounds Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 72, Rhosmaen Street, Llandeilo, Wales, SA19 6EN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover includes the value of invoiced sales, net of income previously accrued against those invoices, plus accrued income representing the directors' best estimate of the likely profit on long-term contracts and the stage of completion of those contracts.
1.4
Stocks
Work in progress is valued at the lower of cost and net realisable value.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
1.5
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 statement of financial position date.
HARRINGTON GROUNDS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
200
200
4
Related party transactions
OTH Limited
Parent company
In a previous period, the company was provided with various sums for working capital by the related party. During the year, various sums were repaid. The amount due to the related party at the year-end was £22,314 (2023: £188,055). The amount is technically repayable on demand, although the related party has agreed not to withdraw the advance to the detriment of other unsecured creditors.
Cawdor Estates Ltd
Fellow subsidiary company
During the period, the related party provided building and related services to the company to the value of £177,453 (2023: £869,622) on an arms' length basis. The amount due to the related party at the year-end was £100,266 (2023: £Nil). The amount is unsecured, interest-free and repayable on demand.
Cornerstone Close Ltd
Subsidiary company
During the period, the company loaned the related party funds for working capital. The amount due from the related party at the year-end was £1,031,945 (2023: £nil). The amount is unsecured, interest-free and repayable on demand.