REGISTERED NUMBER: 04972140 (England and Wales)

HARPSCREEN (GB) LIMITED

Audited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

K McCabe

REGISTERED OFFICE:

Haydock Industrial Estate

St Helens

Merseyside

WA11 9UZ

REGISTERED NUMBER:

04972140 (England and Wales)

INDEPENDENT AUDITORS:

Cooper Parry Audit (Ireland) Limited

Statutory Auditor

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

BANKERS:

Allied Irish Bank

18-20 Scotch Street

Dungannon

BT70 1AZ

SOLICITORS:

P A Duffy & Co.

7-9 Market Square

Dungannon

Co. Tyrone

BT70 1AB

NON-CURRENT ASSETS

Property, plant and equipment

5

431,991

472,612

CURRENT ASSETS

Inventories

6

472,579

501,553

Receivables: Amounts falling

due within one year

7

6,834,882

7,012,455

Cash at bank and in hand

1,056,816

1,698,440

8,364,277

9,212,448

PAYABLES

Amounts falling due within one year

8

(1,579,645

)

(2,801,031

)

NET CURRENT ASSETS

6,784,632

6,411,417

TOTAL ASSETS LESS CURRENT LIABILITIES

7,216,623

6,884,029

PROVISIONS FOR LIABILITIES

9

(72,541

)

(91,179

)

NET ASSETS

7,144,082

6,792,850

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

7,144,081

6,792,849

SHAREHOLDERS' FUNDS

7,144,082

6,792,850

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2025 and were signed by:

K McCabe - Director

1.	STATUTORY INFORMATION

Harpscreen (GB) 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.	STATEMENT OF COMPLIANCE

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 House Act 2006. The financial statements have been prepared on a going concern basis. The accounting policies outlined below have been applied consistently throughout the year.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis under the historical cost convention.

Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods:

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the significant risks and rewards of ownership have been transferred to the buyer;

- the company retains no continuing involvement or control over the goods;

- the amount of revenue can be measured reliably;

- it is probable that future economic benefits will flow to the company

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation. The charge to depreciation is calculated to write off the original cost of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and Machinery

10%

Straight line

Fixtures, Fittings and Equipment

15%

Reducing balance

Motor Vehicles

25%

Reducing balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories

Inventories and work in progress are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and hire purchase contracts are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 24 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

557,487

34,851

108,654

700,992

Additions

60,328

-

21,615

81,943

Disposals

(44,998

)

-

(10,485

)

(55,483

)

At 31 December 2024

572,817

34,851

119,784

727,452

DEPRECIATION

At 1 January 2024

185,385

20,557

22,438

228,380

Charge for year

58,966

2,146

22,885

83,997

Eliminated on disposal

(10,125

)

-

(6,791

)

(16,916

)

At 31 December 2024

234,226

22,703

38,532

295,461

NET BOOK VALUE

At 31 December 2024

338,591

12,148

81,252

431,991

At 31 December 2023

372,102

14,294

86,216

472,612

6.	INVENTORIES

2024

2023

£

£

Raw materials

249,211

287,860

Work-in-progress

208,045

202,259

Finished goods

15,323

11,434

472,579

501,553

7.	RECEIVABLES: AMOUNTS FALLING

DUE WITHIN ONE YEAR

2024

2023

£

£

Trade receivables

850,425

886,691

Amounts owed by group undertakings

5,532,483

5,486,352

Amounts owed by related undertakings

351,643

435,529

Other receivables

-

144,473

Corporation Tax

21,780

-

Prepayments and accrued income

78,551

59,410

6,834,882

7,012,455

Amounts owed by group and related undertakings are unsecured, interest free and repayable on demand.

8.	PAYABLES: AMOUNTS FALLING DUE

WITHIN ONE YEAR

2024

2023

£

£

Trade payables

535,196

798,176

Amounts owed to group undertakings

-

60,104

Amounts owed to related undertakings

257,636

1,348,766

Corporation Tax

-

218,087

Social security and other taxes

168,361

38,495

Other payables

91,444

6,540

Accruals and deferred income

527,008

330,863

1,579,645

2,801,031

Amounts owed to group and related undertakings are unsecured, interest free and repayable on demand.

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

72,541

91,179

Deferred tax

£

Balance at 1 January 2024

91,179

Provided during year

(18,638

)

Balance at 31 December 2024

72,541

The provision for deferred taxation is made up as follows:

2024

2023

£

£

Accelerated capital allowances

73,623

91,859

Other timing differences

(1,082

)

(680

)

72,541

91,179

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

1

1

1

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mr. Ryan Falls F.C.A (Senior Statutory Auditor)

for and on behalf of Cooper Parry Audit (Ireland) Limited

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Quarrytech Limited.

The address of Quarrytech Limited is 76 Ballynakilly Road, Dungannon, Co.Tyrone, BT71 6HD.

The parent of the largest group in which the results are consolidated is Quarrytech Limited.