Harlow Bros Holdings Limited - Accounts to registrar (filleted) - small 23.2.5
Harlow Bros Holdings Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2023 |
| for |
| Harlow Bros Holdings Limited |
| Harlow Bros Holdings Limited (Registered number: 07582674) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Harlow Bros Holdings Limited |
| Company Information |
| for the Year Ended 30 June 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Point |
| Granite Way |
| Mountsorrel |
| Loughborough |
| Leicestershire |
| LE12 7TZ |
| Harlow Bros Holdings Limited (Registered number: 07582674) |
| Balance Sheet |
| 30 June 2023 |
| 30.6.23 | 30.6.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Harlow Bros Holdings Limited (Registered number: 07582674) |
| Balance Sheet - continued |
| 30 June 2023 |
| 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 |
| Harlow Bros Holdings Limited (Registered number: 07582674) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2023 |
| 1. | STATUTORY INFORMATION |
| Harlow Bros Holdings Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In the application of the company's accounting policies, which are described in the accounting policies below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
| Judgements |
| In preparing these financial statements, the directors have made the following key judgements that have a significant effect on the amounts recognised in the financial statements as described below. |
| - Determine whether there are indicators of impairment of the company's tangible and intangible assets along with residual values and asset lives. The residual value is the net realisable value of an asset at the end of its useful economic life. The company has taken an assessment of the residual values that are appropriate for the business and reviews this assessment annually. Note 10 provides details of the value of fixed assets capitalised. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use. |
| The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
| 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. |
| Harlow Bros Holdings Limited (Registered number: 07582674) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2022 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST OR VALUATION |
| At 1 July 2022 |
| Additions |
| Disposals | ( |
) |
| At 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 |
| At 30 June 2022 |
| Included in cost or valuation of land and buildings is freehold land of £ 1,997,018 (2022 - £ 1,997,018 ) which is not depreciated. |
| Cost or valuation at 30 June 2023 is represented by: |
| Land and |
| buildings |
| £ |
| Valuation in 2019 | 3,640,796 |
| Cost | 18,559,693 |
| 22,200,489 |
| If freehold properties had not been revalued they would have been included at the following historical cost: |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Cost | 15,370,816 | 15,370,816 |
| Value of land in freehold land and buildings | 1,997,018 | 1,997,018 |
| Harlow Bros Holdings Limited (Registered number: 07582674) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Freehold property and investment properties last had an external third party valuation carried out in June 2019 by Mather Jamie an independent firm of chartered surveyors. All properties held were subject to revaluation. The valuations were made on an open market basis by reference to their existing use and in accordance with the Appraisal and Valuation Standards published by the Royal Institution of Chartered Surveyors. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. |
| 7. | ULTIMATE CONTROLLING PARTY |
| Harlow Bros Holdings Limited is owned by the members of the Harlows family with no one individual having |
| ultimate control. |