Harford Attachments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06769302

Harford Attachments Limited

Unaudited financial statements

For the year ended

31 December 2024

Harford Attachments Limited

Statement of financial position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Intangible assets	5	9,847	11,185
Tangible assets	6	1,846,732	2,023,451
Investments	7	81	81
		-----------	-----------
		1,856,660	2,034,717

Current assets

Stocks		231,035	232,585
Debtors	8	186,713	331,033
Cash at bank and in hand		13,336	92,569
		---------	---------
		431,084	656,187

Creditors: Amounts falling due within one year	9	( 762,225)		( 591,246)
		---------		---------
Net current (liabilities)/assets			( 331,141)		64,941
			-----------		-----------
Total assets less current liabilities			1,525,519		2,099,658

Creditors: Amounts falling due after more than one year	10		( 290,467)		( 451,305)

Provisions	( 191,991)	( 310,087)
	-----------	-----------
Net assets	1,043,061	1,338,266
	-----------	-----------

Capital and reserves

Called up share capital	11	100	100
Profit and loss account		1,042,961	1,338,166
		-----------	-----------
Shareholders funds		1,043,061	1,338,266
		-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

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

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Harford Attachments Limited

Statement of financial position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 7 May 2025 , and are signed on behalf of the board by:

Mrs A Kidd

Director

Company registration number: 06769302

Harford Attachments Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company, registration number 06769302 , is a private company limited by shares, registered in England and Wales. The address of the registered office is Spar Road, Norwich, Norfolk, NR6 6BY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements reflect that the company has net current liabilities. The accounts have been prepared on a going concern basis on the assumption that the company has the continued financial support of the existing shareholders and the bank in respect to the overdraft and loan facilities provided.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patents, trademarks and licences	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	15% - 25% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of employees during the year was 29 (2023: 39 ).

5. Intangible assets

	Patents, trademarks and licences
	£
Cost
At 1 January 2024 and 31 December 2024	13,385
	-------
Amortisation
At 1 January 2024	2,200
Charge for the year	1,338
	-------
At 31 December 2024	3,538
	-------
Carrying amount
At 31 December 2024	9,847
	-------
At 31 December 2023	11,185
	-------

6. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 January 2024	1,351,289	2,236,284	64,762	26,739	76,598	3,755,672
Additions	–	1,325	605	–	1,142	3,072
Disposals	–	( 4,600)	–	( 2,750)	–	( 7,350)
	-----------	-----------	-------	-------	-------	-----------
At 31 December 2024	1,351,289	2,233,009	65,367	23,989	77,740	3,751,394
	-----------	-----------	-------	-------	-------	-----------
Depreciation
At 1 January 2024	244,689	1,365,237	44,046	9,006	69,243	1,732,221
Charge for the year	26,994	138,856	4,261	4,404	5,061	179,576
Disposals	–	( 4,501)	–	( 2,634)	–	( 7,135)
	-----------	-----------	-------	-------	-------	-----------
At 31 December 2024	271,683	1,499,592	48,307	10,776	74,304	1,904,662
	-----------	-----------	-------	-------	-------	-----------
Carrying amount
At 31 December 2024	1,079,606	733,417	17,060	13,213	3,436	1,846,732
	-----------	-----------	-------	-------	-------	-----------
At 31 December 2023	1,106,600	871,047	20,716	17,733	7,355	2,023,451
	-----------	-----------	-------	-------	-------	-----------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	81
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	81
	----
At 31 December 2023	81
	----

8. Debtors

	2024	2023
	£	£
Trade debtors	151,265	308,057
Other debtors	35,448	22,976
	---------	---------
	186,713	331,033
	---------	---------

9. Creditors: Amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	386,657	74,817
Trade creditors	137,878	153,003
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,061	38,200
Social security and other taxes	125,975	109,290
Other creditors	109,654	215,936
	---------	---------
	762,225	591,246
	---------	---------

Included within creditors amounts falling due within one year is an amount of £79,633 (2023 - £74,817) which is secured by a fixed and floating charge over the assets of the company.

10. Creditors: Amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	142,615	228,252
Other creditors	147,852	223,053
	---------	---------
	290,467	451,305
	---------	---------

Included within creditors amounts falling due after more than one year is an amount of £142,615 (2023: £228,252) which is secured by a fixed and floating charge over the assets of the company.

11. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

12. Directors' advances, credits and guarantees

At the year end, the company was owed £1,809 by Mrs A Kidd , being the balance on her directors loan account (2023: £Nil)

13. Related party transactions

As at 31 December 2024 the company owed subsidiary company Harford Excavator Attachments LLC £2,061 (2023: £38,200). No interest is payable on this loan.