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Registered number: 05408216
Andy Harragan & Son Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
CLIVE G. CHADNEY LIMITED
108 Sandford Road
Chelmsford
CM2 6DH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05408216
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,999 22,892
21,999 22,892
CURRENT ASSETS
Stocks 5 6,225 7,305
Debtors 6 63,655 76,947
Cash at bank and in hand 45,417 44,152
115,297 128,404
Creditors: Amounts Falling Due Within One Year 7 (101,804 ) (110,418 )
NET CURRENT ASSETS (LIABILITIES) 13,493 17,986
TOTAL ASSETS LESS CURRENT LIABILITIES 35,492 40,878
Creditors: Amounts Falling Due After More Than One Year 8 (35,098 ) (39,813 )
NET ASSETS 394 1,065
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 294 965
SHAREHOLDERS' FUNDS 394 1,065
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Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Harragan
Director
16 June 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Andy Harragan & Son Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05408216 . The registered office is 108 Sandford Road, Chelsmford, Essex, CM2 6DH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 September 2023 35,456 46,920 82,376
Additions - 5,000 5,000
As at 31 August 2024 35,456 51,920 87,376
Depreciation
As at 1 September 2023 24,651 34,833 59,484
Provided during the period 1,621 4,272 5,893
As at 31 August 2024 26,272 39,105 65,377
Net Book Value
As at 31 August 2024 9,184 12,815 21,999
As at 1 September 2023 10,805 12,087 22,892
5. Stocks
2024 2023
£ £
Stock 6,225 7,305
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,501 17,000
Other debtors 39,154 59,947
63,655 76,947
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,526
Trade creditors 18,126 19,141
Bank loans and overdrafts 13,514 18,865
Other creditors 8,616 4,957
Taxation and social security 61,548 63,929
101,804 110,418
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 35,098 39,813
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 3,526
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Andrew Harragan 49,320 76,859 106,745 - 19,434
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 63,000 68,000
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