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Registered number: 01913527 HARDACRE & MALTPRESS LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
HARDACRE & MALTPRESS LIMITED REGISTERED NUMBER: 01913527 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 10,538 |  | 15,427
|  |  | 10,538 |  | 15,427
Current assets |  |  |  |  |
Stocks |  | 6,369 |  | 4,525 |
Debtors: amounts falling due within one year | 5 | 505,463 |  | 575,244 |
Cash at bank and in hand | 6 | 50,606 |  | 18,989 |
|  | 562,438 |  | 598,758 |
Creditors: amounts falling due within one year | 7 | (164,673) |  | (175,986) |
Net current assets |  |  | 397,765 |  | 422,772
Total assets less current liabilities |  |  | 408,303 |  | 438,199
Creditors: amounts falling due after more than one year | 8 |  | - |  | (2,603)
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 | (1,424) |  | (2,580) |
|  |  | (1,424) |  | (2,580)
Net assets |  |  | 406,879 |  | 433,016
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 12,975 |  | 12,975
Profit and loss account |  |  | 393,904 |  | 420,041
|  |  | 406,879 |  | 433,016
Page 1
HARDACRE & MALTPRESS LIMITED REGISTERED NUMBER: 01913527 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 February 2026.
N. M. McKeown
Director
The notes on pages 3 to 10 form part of these financial statements. Page 2
HARDACRE & MALTPRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Hardacre & Maltpress Limited is a private limited company, limited by shares, incorporated in England and Wales. It's registered office is 48 Fernhill Road, Bootle, Liverpool, L20 9EA. The company number is 01913527. The principal activity of the company is electrical contractors. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The Company's functional and presentational currency is GBP. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company has cash resources and has no requirement for external funding. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.
| 2.3 | 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: Rendering of services Revenue 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: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 3
HARDACRE & MALTPRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | 10% | straight line
|  |  |  | Motor vehicles | - | 33% | reducing balance
|  |  |  | Office equipment | - | 25% | reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.6 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 4
HARDACRE & MALTPRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.11 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2.12 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.13 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 5
HARDACRE & MALTPRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.15 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
3. | Employees
| The average monthly number of employees, including directors, during the year was 9 (2024 - 9).
Page 6
HARDACRE & MALTPRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Freehold property | Motor vehicles | Office equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 April 2024 | 30,588 | 66,855 | 9,769 | 107,212
| At 31 March 2025 | 30,588 | 66,855 | 9,769 | 107,212
| Depreciation |  |  |  |
| At 1 April 2024 | 30,588 | 52,533 | 8,664 | 91,785
| Charge for the year on owned assets | - | 1,665 | 276 | 1,941
| Charge for the year on financed assets | - | 2,948 | - | 2,948
| At 31 March 2025 | 30,588 | 57,146 | 8,940 | 96,674
| Net book value |  |  |  |
| At 31 March 2025 | - | 9,709 | 829 | 10,538
| At 31 March 2024 | - | 14,322 | 1,105 | 15,427
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 5,896 | 8,844
|  | 5,896 | 8,844
Page 7
HARDACRE & MALTPRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 103,464 | 195,847
| Amounts owed by group undertakings | 334,473 | 334,473
| Other debtors | 27,000 | -
| Prepayments and accrued income | 40,526 | 44,924
|  | 505,463 | 575,244
Included within other debtors due within one year are loans to the following directors: N. M. McKeown - £13,500 R. G. Mundy - £13,500 The loans have no fixed repayment terms and no interest is being charged. Both loans were repaid in full in April 2025.
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 50,606 | 18,989
|  | 50,606 | 18,989
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 84,048 | 109,870
| Corporation tax | 37,902 | 27,465
| Other taxation and social security | 28,513 | 28,969
| Obligations under finance lease and hire purchase contracts | 2,603 | 3,470
| Accruals and deferred income | 11,607 | 6,212
|  | 164,673 | 175,986
| Obligations under finance lease and hire purchase contracts are secured on the assets concerned.
Page 8
HARDACRE & MALTPRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | - | 2,603
|  | - | 2,603
| Net obligations under finance lease and hire purchase contracts are secured on the assets concerned.
9. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 2,920 | 3,893
| Between 1-5 years | - | 2,920
|  | 2,920 | 6,813
10. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (2,580)
| Charged to profit or loss | 1,156
| At end of year | (1,424)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (1,721) | (2,885)
| Short term timing differences | 297 | 305
|  | (1,424) | (2,580)
Page 9
HARDACRE & MALTPRESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund
12. | Controlling party
The company a 100% subsidiary of Hardacre & Maltpress Holdings Limited, a company registered in England and Wales. The ultimate controlling party is N. M. McKeown and R. G. Mundy.
Page 10