Hardware Supply Company (Middlesbrough) - Accounts to registrar (filleted)

REGISTERED NUMBER: 00169792 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Hardware Supply Company

(Middlesbrough) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P A Faulkner

SECRETARY:

Miss A L Faulkner

REGISTERED OFFICE:

The Faulkner Building

North Ormesby Road

Middlesbrough

Cleveland

TS4 2AP

REGISTERED NUMBER:

00169792 (England and Wales)

ACCOUNTANTS:

Anderson Barrowcliff Limited

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

FIXED ASSETS

Tangible assets

4

230,512

289,752

Investments

5

1,375,260

Investment property

6

500,000

2,105,772

2,165,012

CURRENT ASSETS

Stocks

209,923

276,441

Debtors

7

1,270,295

1,136,659

Cash at bank and in hand

1,036,859

824,616

2,517,077

2,237,716

CREDITORS

Amounts falling due within one year

8

545,445

282,575

NET CURRENT ASSETS

1,971,632

1,955,141

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,077,404

4,120,153

CREDITORS

Amounts falling due after more than one
year

9

-

(2,694

)

PROVISIONS FOR LIABILITIES

(9,084

)

(9,084

)

NET ASSETS

4,068,320

4,108,375

CAPITAL AND RESERVES

Called up share capital

12

1,825

Revaluation reserve

13

27,251

Capital redemption reserve

675

Retained earnings

4,038,569

4,078,624

SHAREHOLDERS' FUNDS

4,068,320

4,108,375

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

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

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 9 September 2026 and were signed by:

P A Faulkner - Director

1.	STATUTORY INFORMATION

Hardware Supply Company (Middlesbrough) 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Hardware Supply Company (Middlesbrough) Limited as an individual company and do not contain consolidated financial information as the parent of a group.The company is exempt under Section 399 (2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the invoiced value of goods supplied by the company excluding value added tax.Turnover is recognised when the goods are despatched.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Fixtures and fittings

-

33% on cost and 15% on cost

Motor vehicles

-

25% on reducing balance

Freehold land is not depreciated.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Employee benefit trust

In 2009 the company established a discretionary trust for the benefit of the families of all of its officers and employees (the Employee Benefit Trust or EBT). In accordance with FRS102 1A the investment in the trust is recognised at initial cost. This investment is subsequently reviewed for any indicators of impairment at each balance sheet date. If such indication exists, the investment in the trust is impaired to it's recoverable amount.

Debtors and creditors receivable / payable within one year

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.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through the profit and loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

COST

At 1 January 2025

and 31 December 2025

351,093

222,490

275,237

848,820

DEPRECIATION

At 1 January 2025

232,242

213,888

112,938

559,068

Charge for year

6,436

1,720

51,084

59,240

At 31 December 2025

238,678

215,608

164,022

618,308

NET BOOK VALUE

At 31 December 2025

112,415

6,882

111,215

230,512

At 31 December 2024

118,851

8,602

162,299

289,752

Included in cost of land and buildings is freehold land of £ 29,262 (2024 - £ 29,262 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2025

and 31 December 2025

30,890

DEPRECIATION

At 1 January 2025

11,118

Charge for year

4,943

At 31 December 2025

16,061

NET BOOK VALUE

At 31 December 2025

14,829

At 31 December 2024

19,772

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2025

and 31 December 2025

1,375,260

NET BOOK VALUE

At 31 December 2025

1,375,260

At 31 December 2024

1,375,260

Cost or valuation at 31 December 2025 is represented by:

Other

investments

£

Cost

1,375,260

An employee benefit trust with the name 'Hardware Supply Company (Middlesbrough) Limited NRT' was established in 2009 for the benefit of past, present and future employees and directors of the company and members of their family. Any shareholders (or former shareholders) who hold 5% or more of the ordinary shares in the company, and persons connected with them, are excluded from benefiting from the trust.

In 2010, investments with an initial cost of £810,000 were transferred to the trust at their market value of £872,060. This amount, together with amounts transferred in 2009 of £503,200, give a total investment in the trust of £1,375,260. As the company is deemed to have de facto control over the assets of the trust, this investment is treated as an asset of the company in accordance with FRS102 (Section 9).

At the year end, the value of this investment was deemed to be in excess of initial cost.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

500,000

NET BOOK VALUE

At 31 December 2025

500,000

At 31 December 2024

500,000

Fair value at 31 December 2025 is represented by:

£

Valuation in 2023

36,335

Cost

463,665

500,000

The investment property was purchased in 2020 for a cost of £463,665 and a professional valuation was carried out shortly afterwards by Thomas Stevenson (Chartered Surveyors) indicating that the fair value of the property was the same as the initial cost. In the opinion of the director, recent changes in the local property market have resulted in the property increasing in value to £500,000 as at 31 December 2025.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

199,213

158,051

Other debtors

4,223

5,735

Directors' current accounts

816,892

750,667

s455 tax recoverable

223,990

201,639

Corporation tax recoverable

2,137

Prepayments and accrued income

23,840

18,430

1,270,295

1,136,659

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Hire purchase contracts (see note 10)

2,694

5,388

Trade creditors

247,427

72,969

Corporation tax

24,895

560

Social security and other taxes

16,951

14,450

VAT

79,766

37,805

Other creditors

80,246

114,058

Accruals and deferred income

93,466

37,345

545,445

282,575

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Hire purchase contracts (see note 10)

-

2,694

10.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

Net obligations repayable:

Within one year

2,694

5,388

Between one and five years

-

2,694

8,082

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Hire purchase contracts

2,694

8,082

Hire purchase liabilities are secured on the assets to which they relate.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

1,825

Ordinary Shares

£1

1,825

13.

RESERVES

Revaluation

reserve

£

At 1 January 2025

and 31 December 2025

27,251

14.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31 December 2025 £816,892 (2024: £750,667) was due from a director. During the year advances amounting to £75,225 (2024: £10,660) were made to the director and £9,000 (2024: £9,000) was repaid by the director.

The loan is free of interest and repayable on demand.