IN HARMONY,SPIRIT AND BALANCE LIMITED

Company Registration Number:
03928493 (England and Wales)

Unaudited abridged accounts for the year ended 30 October 2021

Period of accounts

Start date: 31 October 2020

End date: 30 October 2021

IN HARMONY,SPIRIT AND BALANCE LIMITED

Contents of the Financial Statements

for the Period Ended 30 October 2021

Balance sheet
Notes

IN HARMONY,SPIRIT AND BALANCE LIMITED

Balance sheet

As at 30 October 2021


Notes

2021

2020


£

£
Fixed assets
Tangible assets: 3 129,111 139,315
Total fixed assets: 129,111 139,315
Current assets
Stocks: 14,198 12,350
Debtors: 4 33,632 83,993
Cash at bank and in hand: 263,455 116,205
Total current assets: 311,285 212,548
Creditors: amounts falling due within one year: 5 (118,053) (205,516)
Net current assets (liabilities): 193,232 7,032
Total assets less current liabilities: 322,343 146,347
Creditors: amounts falling due after more than one year: 6 (132,500)
Total net assets (liabilities): 189,843 146,347
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 189,743 146,247
Shareholders funds: 189,843 146,347

The notes form part of these financial statements

IN HARMONY,SPIRIT AND BALANCE LIMITED

Balance sheet statements

For the year ending 30 October 2021 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 14 September 2022
and signed on behalf of the board by:

Name: Mrs J E Anderson
Status: Director

The notes form part of these financial statements

IN HARMONY,SPIRIT AND BALANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Land and buildings leasehold Over 12 YearsFixtures, fittings & equipment 20% reducing balanceComputer equipment 20% reducing balance.

IN HARMONY,SPIRIT AND BALANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

2. Employees

2021 2020
Average number of employees during the period 15 15

IN HARMONY,SPIRIT AND BALANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

3. Tangible Assets

Total
Cost £
At 31 October 2020 259,271
Additions 24,560
Disposals (30,081)
At 30 October 2021 253,750
Depreciation
At 31 October 2020 119,956
Charge for year 27,003
On disposals (22,320)
At 30 October 2021 124,639
Net book value
At 30 October 2021 129,111
At 30 October 2020 139,315

IN HARMONY,SPIRIT AND BALANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

4. Debtors

Trade Debtors £12,464 (2020: £22,230), Corporation tax recoverable £5,349 (2020: £5,349), Other debtors £15,819 (2020: £56,414)

IN HARMONY,SPIRIT AND BALANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

5. Creditors: amounts falling due within one year note

Bank Loans £17,500 (2020: £50,000)Trade Creditors £8,313 (2020: £12,900)Corporation Tax £10,623 (2020: £33,011)Other taxation and social security £28,079 (2020: £26,279)Other creditors £53,538 (2020: £83,326)

IN HARMONY,SPIRIT AND BALANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

6. Creditors: amounts falling due after more than one year note

Bank loans and overdrafts £132,500 (2020: £Nil)

IN HARMONY,SPIRIT AND BALANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

7. Financial commitments

Operating lease commitmentsAt the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £155,230 (2020: £186,972).

IN HARMONY,SPIRIT AND BALANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

8. Loans to directors

Included in Other Creditors is £250 (2020: £23,653 Debtor) owed to the director by the Company. .

IN HARMONY,SPIRIT AND BALANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 October 2021

9. Related party transactions

Included in Other Debtors is £ Nil (2019: £17,550) owed to the company by Motor Sport Capital Ltd. The spouse of the director is the owner and shareholder of Motor Sport Capital Ltd.