Harry Ferguson Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01573192 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

HARRY FERGUSON HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J R Sheldon

Mrs S J Sheldon

SECRETARY:

Mrs S J Sheldon

REGISTERED OFFICE:

Kings Manor Farm

Copse Lane

Freshwater

Isle of Wight

PO409TL

REGISTERED NUMBER:

01573192 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

2,516,904

2,844,633

2,516,904

2,844,633

CURRENT ASSETS

Debtors

6

1,944,868

1,828,064

Cash at bank

120,774

20,100

2,065,642

1,848,164

CREDITORS

Amounts falling due within one year

7

479,917

479,033

NET CURRENT ASSETS

1,585,725

1,369,131

TOTAL ASSETS LESS CURRENT LIABILITIES

4,102,629

4,213,764

CAPITAL AND RESERVES

Called up share capital

2,390

2,390

Fair value reserve

383,700

610,017

Retained earnings

3,716,539

3,601,357

SHAREHOLDERS' FUNDS

4,102,629

4,213,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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.

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 2 September 2021 and were signed on its behalf by:

T J R Sheldon - Director

1.	STATUTORY INFORMATION

Harry Ferguson Holdings 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents income from fixed asset investments, excluding Vat.

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Investments

Listed investments are included at fair value. Gains are recognised in the Income Statement. Deferred taxation is provided on these gains at the rate expected to apply when the investments are sold.

Other investments are valued at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

11,219

DEPRECIATION

At 1 January 2020

and 31 December 2020

11,219

NET BOOK VALUE

At 31 December 2020

-

5.	FIXED ASSET INVESTMENTS

31.12.20

31.12.19

£

£

Shares in group undertakings

6,901

6,601

Other investments not loans

2,287,435

2,600,835

Other loans

222,568

237,197

2,516,904

2,844,633

Additional information is as follows:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 January 2020

6,601

2,612,837

2,619,438

Additions

300

98,449

98,749

Disposals

-

(246,438

)

(246,438

)

Revaluations

-

(165,411

)

(165,411

)

At 31 December 2020

6,901

2,299,437

2,306,338

PROVISIONS

At 1 January 2020

and 31 December 2020

-

12,002

12,002

NET BOOK VALUE

At 31 December 2020

6,901

2,287,435

2,294,336

At 31 December 2019

6,601

2,600,835

2,607,436

The book cost of listed and unlisted investments before revaluation to fair value at the year ended 31 December 2020 was £1,878,658 (2019: £1,965,740).

Other

loans

£

At 1 January 2020

237,197

Repayment in year

(22,103

)

Other movement

7,474

At 31 December 2020

222,568

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Other debtors

1,944,868

1,828,064

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Amounts owed to group undertakings

473,664

473,664

Taxation and social security

(1,484

)

(2,368

)

Other creditors

7,737

7,737

479,917

479,033

8.	SECURED DEBTS

The bank overdraft of the subsidiary company Harry Ferguson Farms Limited has a Limited Guarantee which is provided by T J R Sheldon for £60,000. The overdraft of the subsidiary company Harwoods of Yarmouth Limited is also guaranteed by T J R Sheldon, the director.

There is a fixed and floating charge over all the company assets held by Barclays Bank plc.