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Registration number: 08600700

Harakima Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2022

 

Harakima Limited

Contents for the Year Ended 31 July 2022

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

 

Harakima Limited

Company Information for the Year Ended 31 July 2022

Director

M Sonne

Registered office

Trident House
105 Derby Road
Liverpool
L20 8LZ

Accountants

Whitnalls
Chartered Certified Accountants
Trident House
105 Derby Road
Liverpool
L20 8LZ

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Harakima Limited
for the Year Ended 31 July 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Harakima Limited for the year ended 31 July 2022 as set out on pages 3 to 6 from the Company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Harakima Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Harakima Limited and state those matters that we have agreed to state to the Board of Directors of Harakima Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/200
9/october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Harakima Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Harakima Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Harakima Limited. You consider that Harakima Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Harakima Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

..........................................................

Whitnalls
Chartered Certified Accountants
Trident House
105 Derby Road
Liverpool
L20 8LZ


 

5 September 2022

 

Harakima Limited

(Registration number: 08600700)
Balance Sheet as at 31 July 2022

Note

2022
£

2021
£

Fixed Assets

 

Tangible Assets

3

669

891

Current assets

 

Cash at bank and in hand

 

64,153

49,442

Creditors: Amounts falling due within one year

4

(37,892)

(32,273)

Net current assets

 

26,261

17,169

Net assets

 

26,930

18,060

Capital and Reserves

 

Called up share capital

6

100

100

Retained Earnings

26,830

17,960

Shareholders' funds

 

26,930

18,060

For the financial year ending 31 July 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 27 August 2022
 

.........................................

M Sonne

Director

 

Harakima Limited

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance method

 

Harakima Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2021 - 1).

3

Tangible Assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2021

1,748

1,748

At 31 July 2022

1,748

1,748

Depreciation

At 1 August 2021

857

857

Charge for the year

222

222

At 31 July 2022

1,079

1,079

Carrying amount

At 31 July 2022

669

669

At 31 July 2021

891

891

 

Harakima Limited

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

4

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Current loans and borrowings

5

28,078

29,078

Taxation and social security

 

8,668

2,036

Other creditors

 

1,146

1,159

 

37,892

32,273

5

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Other borrowings

28,078

29,078

6

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100