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Registered number: 00580727
James Hart (Chorley) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2026
Bishops Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 00580727
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 815,770 815,952
Investments 6 20,000 20,000
835,770 835,952
CURRENT ASSETS
Stocks 7 1,221,651 1,158,708
Debtors 8 924,630 968,820
Cash at bank and in hand 249,425 153,571
2,395,706 2,281,099
Creditors: Amounts Falling Due Within One Year 9 (1,804,406 ) (1,561,390 )
NET CURRENT ASSETS (LIABILITIES) 591,300 719,709
TOTAL ASSETS LESS CURRENT LIABILITIES 1,427,070 1,555,661
Creditors: Amounts Falling Due After More Than One Year 10 (252,722 ) (311,749 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,784 ) (64,894 )
NET ASSETS 1,149,564 1,179,018
CAPITAL AND RESERVES
Called up share capital 12 4,500 4,500
Fair value reserve 13 10,000 10,000
Profit and Loss Account 1,135,064 1,164,518
SHAREHOLDERS' FUNDS 1,149,564 1,179,018
Page 1
Page 2
For the year ending 31 March 2026 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 Profit and Loss Account.
On behalf of the board
Mr J Hart
Director
Mr P Hart
Director
14/08/2026
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
James Hart (Chorley) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00580727 . The registered office is James Hart (Chorley) Ltd, Clover Road, Chorley, PR7 2NL.
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 the profit and loss account over its estimated economic life of .... years.
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:
Freehold 2% Straight line
Plant & Machinery 20% Straight line
Motor Vehicles 20% Straight line
Computer Equipment 20% Straight line
Page 3
Page 4
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 profit and loss account 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 profit and loss account 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. 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.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 36 (2025: 37)
36 37
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2025 20,000
As at 31 March 2026 20,000
Amortisation
As at 1 April 2025 20,000
As at 31 March 2026 20,000
Net Book Value
As at 31 March 2026 -
As at 1 April 2025 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2025 637,433 247,391 555,932 120,335 1,561,091
Additions - 15,819 126,876 6,189 148,884
Disposals - - (46,126 ) (4,780 ) (50,906 )
As at 31 March 2026 637,433 263,210 636,682 121,744 1,659,069
Depreciation
As at 1 April 2025 193,730 219,024 238,440 93,945 745,139
Provided during the period 12,749 19,346 105,154 11,817 149,066
Disposals - - (46,126 ) (4,780 ) (50,906 )
As at 31 March 2026 206,479 238,370 297,468 100,982 843,299
Net Book Value
As at 31 March 2026 430,954 24,840 339,214 20,762 815,770
As at 1 April 2025 443,703 28,367 317,492 26,390 815,952
Page 5
Page 6
6. Investments
Unlisted
£
Cost or Valuation
As at 1 April 2025 20,000
As at 31 March 2026 20,000
Provision
As at 1 April 2025 -
As at 31 March 2026 -
Net Book Value
As at 31 March 2026 20,000
As at 1 April 2025 20,000
7. Stocks
2026 2025
£ £
Stock 1,221,651 1,158,708
8. Debtors
2026 2025
£ £
Due within one year
Trade debtors 798,220 801,981
Other debtors 126,410 166,839
924,630 968,820
9. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 80,753 75,548
Trade creditors 826,978 742,966
Bank loans and overdrafts 196,978 186,120
Other loans 60,636 56,029
Other creditors 311,679 215,195
Taxation and social security 327,382 285,532
1,804,406 1,561,390
Page 6
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10. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 134,101 126,774
Other loans 118,621 184,975
252,722 311,749
11. Obligations Under Finance Leases and Hire Purchase
2026 2025
£ £
The future minimum finance lease payments are as follows:
Not later than one year 80,753 75,548
Later than one year and not later than five years 134,101 126,774
214,854 202,322
214,854 202,322
12. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 4,500 4,500
13. Reserves
Fair value reserve Profit and Loss Account
£ £
As at 1 April 2025 10,000 1,164,518
Profit for the year and total comprehensive income - 30,546
Dividends paid - (60,000)
As at 31 March 2026 10,000 1,135,064
Page 7