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REGISTERED NUMBER: 12604361 (England and Wales)















Harrods Outdoor Limited

Unaudited Financial Statements for the Year Ended 31 May 2022






Harrods Outdoor Limited (Registered number: 12604361)






Contents of the Financial Statements
for the Year Ended 31 May 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Harrods Outdoor Limited

Company Information
for the Year Ended 31 May 2022







Director: C D Harrod





Registered office: 5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP





Business address: Prospect Nurseries, Prospect Bungalow,
Main Road, Ormesby St Margaret
Great Yarmouth
Norfolk
NR29 3LN





Registered number: 12604361 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Harrods Outdoor Limited (Registered number: 12604361)

Statement of Financial Position
31 May 2022

31/5/22 31/5/21
Notes £    £    £    £   
Fixed assets
Intangible assets 4 5,880 2,636
Tangible assets 5 50,455 39,094
56,335 41,730

Current assets
Stocks 55,250 13,163
Debtors 6 2,388 860
Cash at bank 450 5,039
58,088 19,062
Creditors
Amounts falling due within one year 7 70,002 28,310
Net current liabilities (11,914 ) (9,248 )
Total assets less current liabilities 44,421 32,482

Creditors
Amounts falling due after more than one
year

8

(9,769

)

(3,022

)

Provisions for liabilities (6,196 ) (3,661 )
Net assets 28,456 25,799

Capital and reserves
Called up share capital 100 100
Retained earnings 28,356 25,699
28,456 25,799

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Harrods Outdoor Limited (Registered number: 12604361)

Statement of Financial Position - continued
31 May 2022


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 director and authorised for issue on 26 August 2022 and were signed by:





C D Harrod - Director


Harrods Outdoor Limited (Registered number: 12604361)

Notes to the Financial Statements
for the Year Ended 31 May 2022

1. Statutory information

Harrods Outdoor 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.

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.

Changes in accounting policies
The change in accounting policy is in respect of the re-classification of certain costs from overhead expenses to cost of sales.

The effect of the change in policy is as follows:-
20222021
££

Increase in Cost of Sales53,30315,515

Decrease in Expenses-53,303-15,515


Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other related sales related taxes. The fair value of consideration takes into account trade discounts allowed and settlement discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, (usually on delivery of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Website development costs is being amortised evenly over its estimated useful life of four years.

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 - 5% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer and office equipment - at variable rates on reducing balance

Harrods Outdoor Limited (Registered number: 12604361)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

2. Accounting policies - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. Employees and directors

The average number of employees during the year was 5 (2021 - 2 ) .

Harrods Outdoor Limited (Registered number: 12604361)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

4. Intangible fixed assets
Website
development
costs
£   
Cost
At 1 June 2021 3,515
Additions 5,497
At 31 May 2022 9,012
Amortisation
At 1 June 2021 879
Amortisation for year 2,253
At 31 May 2022 3,132
Net book value
At 31 May 2022 5,880
At 31 May 2021 2,636

5. Tangible fixed assets
Computer
Improvements and
to Plant and Motor office
property machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 June 2021 19,824 12,999 7,917 3,679 44,419
Additions - 6,996 11,995 1,498 20,489
At 31 May 2022 19,824 19,995 19,912 5,177 64,908
Depreciation
At 1 June 2021 991 1,684 1,980 670 5,325
Charge for year 991 4,577 2,234 1,326 9,128
At 31 May 2022 1,982 6,261 4,214 1,996 14,453
Net book value
At 31 May 2022 17,842 13,734 15,698 3,181 50,455
At 31 May 2021 18,833 11,315 5,937 3,009 39,094

Harrods Outdoor Limited (Registered number: 12604361)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

5. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 June 2021 7,917
Additions 11,995
At 31 May 2022 19,912
Depreciation
At 1 June 2021 1,980
Charge for year 2,234
At 31 May 2022 4,214
Net book value
At 31 May 2022 15,698
At 31 May 2021 5,937

6. Debtors: amounts falling due within one year
31/5/22 31/5/21
£    £   
Trade debtors 2,388 814
Other debtors - 46
2,388 860

7. Creditors: amounts falling due within one year
31/5/22 31/5/21
£    £   
Hire purchase contracts 4,749 1,750
Trade creditors 1,768 -
Taxation and social security 35,346 14,286
Other creditors 28,139 12,274
70,002 28,310

8. Creditors: amounts falling due after more than one year
31/5/22 31/5/21
£    £   
Hire purchase contracts 9,769 3,022