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REGISTERED NUMBER: 01808331 (England and Wales)












G. HARNIESS (LOUTH) LIMITED

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






G. HARNIESS (LOUTH) LIMITED (REGISTERED NUMBER: 01808331)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


G. HARNIESS (LOUTH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: D J Rhodes
S R Rhodes





SECRETARY: D J Rhodes





REGISTERED OFFICE: Bolingbroke Road
Fairfield Industrial Estate
Louth
Lincolnshire
LN11 0WA





REGISTERED NUMBER: 01808331 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe
Chartered Certified Accountants
Rollestone House
20-22 Bridge Street
Horncastle
Lincolnshire
LN9 5HZ

G. HARNIESS (LOUTH) LIMITED (REGISTERED NUMBER: 01808331)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 257,757 261,833
257,757 261,833

CURRENT ASSETS
Inventories 4,200 4,500
Debtors 695 1,382
Cash at bank 141,655 135,679
146,550 141,561
CREDITORS
Amounts falling due within one year 34,488 43,082
NET CURRENT ASSETS 112,062 98,479
TOTAL ASSETS LESS CURRENT
LIABILITIES

369,819

360,312

PROVISIONS FOR LIABILITIES 509 -
NET ASSETS 369,310 360,312

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Fair value reserve 6 73,937 73,937
Retained earnings 294,173 285,175
SHAREHOLDERS' FUNDS 369,310 360,312

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.

G. HARNIESS (LOUTH) LIMITED (REGISTERED NUMBER: 01808331)

ABRIDGED STATEMENT OF FINANCIAL POSITION - 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 July 2025 and were signed on its behalf by:





D J Rhodes - Director


G. HARNIESS (LOUTH) LIMITED (REGISTERED NUMBER: 01808331)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

G. Harniess (Louth) 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The Franchise fee is being amortised evenly over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Tools and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Inventories 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 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 5 (2023 - 5 ) .

G. HARNIESS (LOUTH) LIMITED (REGISTERED NUMBER: 01808331)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023
and 31 October 2024 7,395
AMORTISATION
At 1 November 2023
and 31 October 2024 7,395
NET BOOK VALUE

At 31 October 2024 -
At 31 October 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST OR VALUATION
At 1 November 2023 313,571
Additions 3,000
At 31 October 2024 316,571
DEPRECIATION
At 1 November 2023 51,738
Charge for year 7,076
At 31 October 2024 58,814
NET BOOK VALUE
At 31 October 2024 257,757
At 31 October 2023 261,833

Included in cost or valuation of land and buildings is freehold land of £ 19,000 (2023 - £ 19,000 ) which is not depreciated.

Cost or valuation at 31 October 2024 is represented by:

Totals
£   
Valuation in 2019 3,186
Cost 313,385
316,571

G. HARNIESS (LOUTH) LIMITED (REGISTERED NUMBER: 01808331)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. PROPERTY, PLANT AND EQUIPMENT - continued

If freehold land and buildings had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 271,814 271,814
Aggregate depreciation 96,032 90,976

Value of land in freehold land and buildings 19,000 19,000

Freehold land and buildings were valued on an open market basis on 1 November 2019 by the director .

6. RESERVES
Fair
value
reserve
£   
At 1 November 2023
and 31 October 2024 73,937