Company registration number 00551755 (England and Wales)
E.F. & G.W. HARROLD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
E.F. & G.W. HARROLD LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
E.F. & G.W. HARROLD LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,978,681
3,045,911
Investments
5
10,103
10,270
2,988,784
3,056,181
Current assets
Stocks
90,840
102,037
Debtors
6
108,381
130,445
Cash at bank and in hand
194,891
249,700
394,112
482,182
Creditors: amounts falling due within one year
7
(27,598)
(152,993)
Net current assets
366,514
329,189
Total assets less current liabilities
3,355,298
3,385,370
Provisions for liabilities
(34,189)
(51,539)
Net assets
3,321,109
3,333,831
Capital and reserves
Called up share capital
1,800
1,800
Capital redemption reserve
200
200
Profit and loss reserves
3,319,109
3,331,831
Total equity
3,321,109
3,333,831
E.F. & G.W. HARROLD LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 August 2025 and are signed on its behalf by:
Mr M E Harrold
Director
Company Registration No. 00551755
E.F. & G.W. HARROLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

E.F. & G.W. Harrold Limited is a private company limited by shares incorporated in England and Wales. The registered office and business address is Barwick Hall Farm, Stanhoe, Kings Lynn, Norfolk, PE31 8PZ.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the value, excluding VAT, for machinery hire and timber/woodchip supplied to customers during the year. Turnover is recorded at the date of the issue of the invoice to the customer.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Plant and machinery
25% reducing balance basis
Investment property furniture
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

E.F. & G.W. HARROLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stock on hand is timber and woodchip which is stated at the lower of cost and net realisable value. Cost is determined by reference to the purchase invoice and is recorded on a first in first out basis.

 

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

E.F. & G.W. HARROLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
2,839,753
339,634
3,179,387
Additions
2,171
-
0
2,171
At 31 December 2024
2,841,924
339,634
3,181,558
Depreciation and impairment
At 1 January 2024
-
0
133,476
133,476
Depreciation charged in the year
-
0
69,401
69,401
At 31 December 2024
-
0
202,877
202,877
Carrying amount
At 31 December 2024
2,841,924
136,757
2,978,681
At 31 December 2023
2,839,753
206,158
3,045,911
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
10,103
10,270
E.F. & G.W. HARROLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Fixed asset investments
(Continued)
- 6 -
Fixed asset investments revalued

The listed investments are valued on the basis of open market value as at 31 December 2024.

 

Fixed asset investments not carried at market value

The unlisted investments have been measured at cost on the basis no fair value can be reliably measured. The cost of unlisted investments is £1 (2023 - £1).

Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2024
10,270
Additions
4,089
Fair value adjustment
16,765
Disposals
(21,021)
At 31 December 2024
10,103
Carrying amount
At 31 December 2024
10,103
At 31 December 2023
10,270
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
84,392
117,256
Other debtors
23,989
13,189
108,381
130,445
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,692
1,010
Taxation and social security
12,030
89,764
Other creditors
6,876
62,219
27,598
152,993
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