Hartan Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04083020 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021

FOR

HARTAN LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Harris

N C Barlow

SECRETARY:

N C Barlow

REGISTERED OFFICE:

1st Floor

49 High Street

Hucknall

Nottinghamshire

NG15 7AW

REGISTERED NUMBER:

04083020 (England and Wales)

ACCOUNTANTS:

Elkingtons Accountants Limited

First Floor

49 High Street

Hucknall

Nottinghamshire

NG15 7AW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

340,892

302,977

340,892

302,977

CURRENT ASSETS

Stocks

68,526

66,727

Debtors

1,076,442

867,013

Cash in hand

459

434

1,145,427

934,174

CREDITORS

Amounts falling due within one year

1,154,493

951,816

NET CURRENT LIABILITIES

(9,066

)

(17,642

)

TOTAL ASSETS LESS CURRENT LIABILITIES

331,826

285,335

CREDITORS

Amounts falling due after more than one year

(107,279

)

(79,609

)

PROVISIONS FOR LIABILITIES

(52,785

)

(38,326

)

NET ASSETS

171,762

167,400

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

171,759

167,397

SHAREHOLDERS' FUNDS

171,762

167,400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 27th September 2022 and were signed on its behalf by:

R Harris - Director

N C Barlow - Director

1.	STATUTORY INFORMATION

Hartan 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. The Companies contractual obligations are performed gradually over time and revenue is recognised as activity progresses to reflect the Companies partial performance of its contractual obligations.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a businesses in 2005, 2008 and 2009 is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Improvements to property

-

33% on cost and 10% on cost

Plant and machinery

-

33% on cost, 20% on reducing balance and 15% on reducing balance

Fixtures and fittings

-

33% on cost and 20% on reducing balance

Motor vehicles

-

33% on cost and 25% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2020 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2021

and 31st December 2021

24,039

AMORTISATION

At 1st January 2021

and 31st December 2021

24,039

NET BOOK VALUE

At 31st December 2021

-

At 31st December 2020

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2021

1,113,936

Additions

128,723

Disposals

(68,547

)

At 31st December 2021

1,174,112

DEPRECIATION

At 1st January 2021

810,959

Charge for year

74,804

Eliminated on disposal

(52,543

)

At 31st December 2021

833,220

NET BOOK VALUE

At 31st December 2021

340,892

At 31st December 2020

302,977

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

Totals

£

COST

At 1st January 2021

220,888

Additions

95,301

Disposals

(68,547

)

Transfer to ownership

(32,461

)

At 31st December 2021

215,181

DEPRECIATION

At 1st January 2021

115,493

Charge for year

28,541

Eliminated on disposal

(52,543

)

Transfer to ownership

(32,461

)

At 31st December 2021

59,030

NET BOOK VALUE

At 31st December 2021

156,151

At 31st December 2020

105,395

6.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank overdrafts

155,182

101,469

Hire purchase contracts

148,836

120,356

304,018

221,825

A debenture was signed to secure all liabilities to National Westminster Bank PLC. This includes a cross company unlimited guarantee between GW1114 Limited, Hartan Limited, Midland Restorations (UK) Limited, and Midlands Response Limited.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company occupies premises owned in part by the directors. Mr R Harris and Mr N Barlow share a one third stake in the property which entitles them to £11,000 of rental income, all of which had been paid by the balance sheet date.

8.	CONTROLLING PARTY INTEREST

The directors, Mr R Harris and Mr N Barlow, each own a 50% interest in the equity of GW 1114 Limited.