REGISTERED NUMBER: 03944821 (England and Wales)

Hardings (Hemel Hempstead) Limited

Unaudited Financial Statements For The Year Ended 31 March 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Hyseni

G A Sweeney

D H Sweeney

REGISTERED OFFICE:

3 Coldbath Square

London

EC1R 5HL

REGISTERED NUMBER:

03944821 (England and Wales)

ACCOUNTANTS:

Kingswood Allotts Limited

Chartered Accountants

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

FIXED ASSETS

Tangible assets

4

8,567

12,091

CURRENT ASSETS

Stocks

365,972

338,374

Debtors

42,440

32,184

Cash at bank and in hand

58,557

112,088

466,969

482,646

CREDITORS

Amounts falling due within one year

60,661

83,622

NET CURRENT ASSETS

406,308

399,024

TOTAL ASSETS LESS CURRENT LIABILITIES

414,875

411,115

CREDITORS

Amounts falling due after more than one year

599,450

597,947

NET LIABILITIES

(184,575

)

(186,832

)

CAPITAL AND RESERVES

Called up share capital

55,000

55,000

Share premium

135,000

135,000

Retained earnings

(374,575

)

(376,832

)

(184,575

)

(186,832

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2025 and were signed on its behalf by:

G A Sweeney - Director

1.	STATUTORY INFORMATION

Hardings (Hemel Hempstead) 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods -

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

1. the company has transferred the significant risks and rewards of ownership to the buyer;

2. the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

3. the amount of turnover can be measured reliably;

4. it is probable that the company will receive the consideration due under the transaction; and

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

Rendering of services -

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

1. the amount of turnover can be measured reliably;

2. it is probably that the company will receive the consideration due under the contract;

3. the stage of completion of the contract at the end of the reporting period can be measured reliably; and

4. the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. 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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

At the balance sheet date, the company had an overall deficiency of assets of £184,575 (2024: £186,832).

The company relies on its fellow group companies for ongoing financial support, by means of loans totalling £580,746 (2024: £602,372) included in creditors due after one year.

The financial statements have been prepared on a going concern basis which assumes that the company will continue to be in operational existence for the foreseeable future. If the company were unable to continue in operation existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for further liabilities that might arise and to reclassify fixed assets as current assets.

The fellow group companies will not be calling in funds due to them until working capital so permits. Accordingly the directors feel that it is appropriate for the financial to be prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

154,078

Additions

1,506

At 31 March 2025

155,584

DEPRECIATION

At 1 April 2024

141,987

Charge for year

5,030

At 31 March 2025

147,017

NET BOOK VALUE

At 31 March 2025

8,567

At 31 March 2024

12,091

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

-

45,000

Between one and five years

-

63,750

-

108,750

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available under FRS 102 to not disclose transactions with 100% owned group members. At the balance sheet date, the company owed fellow subsidiaries £580,746 (2024: £602,372) and the company was owed £14,904 (2024: £14,904) by its parent company.