Harold Sharp Limited - Accounts to registrar (filleted) - small 23.2.5

HAROLD SHARP LIMITED - Company Information

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REGISTERED NUMBER: 08505271 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

1 OCTOBER 2021 TO 31 DECEMBER 2022

FOR

HAROLD SHARP LIMITED

Page

Balance Sheet

Notes to the Financial Statements

FIXED ASSETS

Intangible assets

666,667

Tangible assets

72,531

87,926

Investments

72,534

754,596

CURRENT ASSETS

Debtors

1,061,677

1,182,647

Cash at bank and in hand

470,102

851,663

1,531,779

2,034,310

CREDITORS

Amounts falling due within one year

1,526,399

1,084,838

NET CURRENT ASSETS

5,380

949,472

TOTAL ASSETS LESS CURRENT
LIABILITIES

77,914

1,704,068

CREDITORS

Amounts falling due after more than one
year

(29,864

)

(42,094

)

PROVISIONS FOR LIABILITIES

(33,009

)

(34,740

)

NET ASSETS

15,041

1,627,234

CAPITAL AND RESERVES

Called up share capital

Share premium

14,990

Capital redemption reserve

Retained earnings

1,612,184

SHAREHOLDERS' FUNDS

15,041

1,627,234

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2023 and were signed on its behalf by:

C A Wrighton - Director

1.	STATUTORY INFORMATION

Harold Sharp Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08505271

Registered office:

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Harold Sharp 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.

There are three subsidiaries and they are all dormant and have never traded.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover from the supply of services represents the value of services provided to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion and the contract activity at the balance sheet date. Where payments are received in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, has been fully written off in the period.

Tangible fixed assets

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

Improvements to property

10% on cost

Plant and machinery

20% on cost

Computer equipment

33% on cost

Government grants

Government grants have been accounted for under the accrual model where a grant relating to revenue is recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and directors' loans.

These financial instruments are measured at the undiscounted amount of the cash or other consideration expected to be received or paid.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Going concern

The directors believe the company is experiencing good levels of growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Prior period

Comparative information in the financial statements is derived from the company's prior period financial statements which were not audited.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 50 (2021 - 51 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

COST

At 1 October 2021

and 31 December 2022

1,661,845

AMORTISATION

At 1 October 2021

995,178

Charge for period

666,667

At 31 December 2022

1,661,845

NET BOOK VALUE

At 31 December 2022

At 30 September 2021

666,667

5.	TANGIBLE FIXED ASSETS

Improvements

Plant and

Computer

property

machinery

equipment

Totals

COST

At 1 October 2021

94,192

45,776

15,747

155,715

Additions

739

5,046

5,785

Disposals

(1,733

)

(1,733

)

At 31 December 2022

94,192

44,782

20,793

159,767

DEPRECIATION

At 1 October 2021

36,059

20,674

11,056

67,789

Charge for period

11,797

5,579

3,660

21,036

Eliminated on disposal

(1,589

)

(1,589

)

At 31 December 2022

47,856

24,664

14,716

87,236

NET BOOK VALUE

At 31 December 2022

46,336

20,118

6,077

72,531

At 30 September 2021

58,133

25,102

4,691

87,926

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

COST

At 1 October 2021

and 31 December 2022

NET BOOK VALUE

At 31 December 2022

At 30 September 2021

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

(Unaudited)

Trade debtors

523,217

636,072

Amounts recoverable on contracts

404,781

414,793

Prepayments and accrued income

133,679

131,782

1,061,677

1,182,647

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

(Unaudited)

Bank loans and overdrafts

9,768

7,906

Trade creditors

21,492

66,343

Amounts owed to group undertakings

Taxation and social security

384,195

382,057

Other creditors

1,110,941

628,529

1,526,399

1,084,838

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2022

2021

(Unaudited)

Bank loans

29,864

42,094

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,769

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Stafford BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of SCCA Ltd T/A Stafford & Co

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is ETL International AG, registered in Germany.

ETL International AG

Steinstrasse 41

Essen

Germany 45128

12.	PENSION OBLIGATIONS

The company contributes to a defined contribution scheme for employees. At 31 December 2022 there were unpaid employer pension contributions of £12,080 (2021: £4,963).

13.	OPERATING LEASE COMMITMENTS

At 31 December 2022, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £51,020 (2021: £109,615). £46,477 (2021: £53,417) is payable in the next twelve months and £4,542 (2021: £56,198) between one and five years.