Company Registration No. 07002732 (England and Wales)
Hardlyever Limited
Unaudited accounts
for the year ended 28 February 2023
Hardlyever Limited
Unaudited accounts
Contents
Hardlyever Limited
Company Information
for the year ended 28 February 2023
Directors
T.S.V. Wolter
S. Wolter
N.N.E.R. Wolter
Company Number
07002732 (England and Wales)
Registered Office
54 Welbeck Street
London
W1G 9XS
Hardlyever Limited
Statement of financial position
as at 28 February 2023
Intangible assets
165,136
206,735
Tangible assets
11,012
15,469
Cash at bank and in hand
55,427
112,149
Creditors: amounts falling due within one year
(1,266,760)
(876,286)
Net current liabilities
(1,151,569)
(555,536)
Total assets less current liabilities
(975,421)
(333,332)
Creditors: amounts falling due after more than one year
(24,195)
(34,841)
Net liabilities
(999,616)
(368,173)
Called up share capital
229
189
Share premium
3,638,010
2,464,163
Profit and loss account
(4,637,855)
(2,832,525)
Shareholders' funds
(999,616)
(368,173)
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by
S. Wolter
Director
Company Registration No. 07002732
Hardlyever Limited
Notes to the Accounts
for the year ended 28 February 2023
Hardlyever Limited is a private company, limited by shares, registered in England and Wales, registration number 07002732. The registered office is 54 Welbeck Street, London, W1G 9XS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
- 18% reducing balance method -
Computer equipment
- 18% reducing balance method -
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Expenditure on research and development is written off in the year in which it is incurred.
Hardlyever Limited
Notes to the Accounts
for the year ended 28 February 2023
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Intangible fixed assets
Other
At 28 February 2023
538,653
Charge for the year
41,599
At 28 February 2023
373,517
At 28 February 2023
165,136
At 28 February 2022
206,735
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2022
40,544
8,753
49,297
At 28 February 2023
41,314
9,747
51,061
At 1 March 2022
31,948
1,880
33,828
Charge for the year
2,742
3,479
6,221
At 28 February 2023
34,690
5,359
40,049
At 28 February 2023
6,624
4,388
11,012
At 28 February 2022
8,596
6,873
15,469
Hardlyever Limited
Notes to the Accounts
for the year ended 28 February 2023
Amounts falling due within one year
Trade debtors
28,539
3,022
Accrued income and prepayments
-
72,573
Other debtors
31,225
129,284
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,648
16,362
Trade creditors
835,389
39,106
Taxes and social security
230,744
314,177
Other creditors
146,154
506,641
8
Creditors: amounts falling due after more than one year
2023
2022
9
Post balance sheet events
A further £608,233 in share capital has been raised after the year-end in order to strengthen the balance sheet.
10
Average number of employees
During the year the average number of employees was 21 (2022: 18).