R & J Harnesses Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 3502583

R & J Harnesses Limited

Filleted Unaudited Financial Statements

28 February 2025

R & J Harnesses Limited

Statement of Financial Position

28 February 2025

	2025		2024
Note	£	£	£

Fixed Assets

Tangible assets	5		31,393	48,014

Current Assets

Stocks		36,501	66,243
Debtors	6	81,230	97,489
Cash at bank and in hand		319,149	193,478
		---------	---------
		436,880	357,210

Creditors: amounts falling due within one year	7	117,440		121,992
		---------		---------
Net Current Assets			319,440	235,218
			---------	---------
Total Assets Less Current Liabilities			350,833	283,232

Provisions

Taxation including deferred tax	9,256	12,004
	---------	---------
Net Assets	341,577	271,228
	---------	---------

R & J Harnesses Limited

Statement of Financial Position (continued)

28 February 2025

	2025		2024
Note	£	£	£

Capital and Reserves

Called up share capital	10	50	50
Capital redemption reserve		50	50
Profit and loss account		341,477	271,128
		---------	---------
Shareholders Funds		341,577	271,228
		---------	---------

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 statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 22 October 2025 , and are signed on behalf of the board by:

Mr P S Harry
Director

Company registration number: 3502583

R & J Harnesses Limited

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6, Deeside Enterprise Centre, Rowleys Drive, Shotton, Deeside, CH5 1PP, Flintshire.

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.

Revenue Recognition

Turnover is measured at the value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:

Plant & Machinery	-	20% reducing balance
Motor Vehicles	-	25% reducing balance
Office Equipment	-	30% reducing balance

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial Instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 8 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 March 2024	109,762	24,990	20,168	154,920
Additions	695	–	–	695
Disposals	( 41,342)	–	( 15,759)	( 57,101)
	---------	--------	--------	---------
At 28 February 2025	69,115	24,990	4,409	98,514
	---------	--------	--------	---------
Depreciation
At 1 March 2024	83,677	5,831	17,397	106,905
Charge for the year	4,928	4,470	277	9,675
Disposals	( 35,681)	–	( 13,778)	( 49,459)
	---------	--------	--------	---------
At 28 February 2025	52,924	10,301	3,896	67,121
	---------	--------	--------	---------
Carrying amount
At 28 February 2025	16,191	14,689	513	31,393
	---------	--------	--------	---------
At 29 February 2024	26,085	19,159	2,771	48,015
	---------	--------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 28 February 2025	–
	----
At 29 February 2024	19,159
	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	79,316	95,575
Other debtors	1,914	1,914
	--------	--------
	81,230	97,489
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	67,887	84,581
Amounts owed to group undertakings	466	127
Accruals and deferred income	4,469	4,523
Corporation tax	27,992	9,185
Social security and other taxes	16,626	13,582
Obligations under finance leases and hire purchase contracts	–	9,994
	---------	---------
	117,440	121,992
	---------	---------

8. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	–	9,994
	----	-------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	9,256	12,004
	-------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	9,256	12,004
	-------	--------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	50	50	50	50
	----	----	----	----

11. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.

12. Controlling party

The immediate and ultimate parent undertaking and controlling party is Pinnacle Harnesses Ltd. The registered office of Pinnacle Harnesses Ltd is Pembroke House, Ellice Way, Wrexham Technology Park, Wrexham, LL13 7YT.