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Registered number: 01598875
Hartgraph Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 01598875
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 43,750 88,750
Tangible Assets 5 1,955,154 2,123,970
1,998,904 2,212,720
CURRENT ASSETS
Stocks 6 683,360 701,920
Debtors 7 1,966,878 1,977,927
Cash at bank and in hand 51,580 42,235
2,701,818 2,722,082
Creditors: Amounts Falling Due Within One Year 8 (2,387,581 ) (2,218,328 )
NET CURRENT ASSETS (LIABILITIES) 314,237 503,754
TOTAL ASSETS LESS CURRENT LIABILITIES 2,313,141 2,716,474
Creditors: Amounts Falling Due After More Than One Year 9 (75,158 ) (424,630 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (379,570 ) (354,223 )
NET ASSETS 1,858,413 1,937,621
CAPITAL AND RESERVES
Called up share capital 11 1,950 1,950
Capital redemption reserve 7,800 7,800
Other reserves 5,250 5,250
Income Statement 1,843,413 1,922,621
SHAREHOLDERS' FUNDS 1,858,413 1,937,621
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Income Statement.
On behalf of the board
S C Walters
Director
23rd October 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hartgraph Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01598875 . The registered office is Unit 2, Amersham Commercial Park, Raans Road, Amersham, Buckinghamshire, HP6 6JY.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its useful economic life.
2.4. 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:
Leasehold 5% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Straight Line
2.5. 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 income statement 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 income statement as incurred.
2.6. 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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2.7. 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 57 (2024: 57)
57 57
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 225,000
As at 31 March 2025 225,000
Amortisation
As at 1 April 2024 136,250
Provided during the period 45,000
As at 31 March 2025 181,250
Net Book Value
As at 31 March 2025 43,750
As at 1 April 2024 88,750
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Page 5
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2024 287,084 3,621,817 427,412 117,201 4,453,514
Additions - 207,256 29,999 19,329 256,584
Disposals - (45,858 ) (19,820 ) - (65,678 )
As at 31 March 2025 287,084 3,783,215 437,591 136,530 4,644,420
Depreciation
As at 1 April 2024 111,530 1,951,224 164,555 102,235 2,329,544
Provided during the period 14,354 275,414 90,675 12,279 392,722
Disposals - (16,483 ) (16,517 ) - (33,000 )
As at 31 March 2025 125,884 2,210,155 238,713 114,514 2,689,266
Net Book Value
As at 31 March 2025 161,200 1,573,060 198,878 22,016 1,955,154
As at 1 April 2024 175,554 1,670,593 262,857 14,966 2,123,970
6. Stocks
2025 2024
£ £
Stock 271,360 333,120
Work in progress 412,000 368,800
683,360 701,920
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,524,112 1,496,271
Other debtors 442,766 481,656
1,966,878 1,977,927
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 267,472 234,933
Trade creditors 868,220 692,974
Bank loans and overdrafts 831,293 1,013,466
Other creditors 17,676 14,321
Taxation and social security 402,920 262,634
2,387,581 2,218,328
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9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 73,389 308,777
Bank loans 1,769 115,853
75,158 424,630
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 267,472 234,933
Later than one year and not later than five years 73,389 308,777
340,861 543,710
340,861 543,710
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,950 1,950
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Anthony Brooks 15,778 37,599 (38,278 ) - 15,099
Mr Stephen Walters 9,999 - (6,000 ) - 3,999
The above loan is unsecured, interest free and repayable on demand.
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