Registered number
01863544
Harbourdale Capital Limited
Filleted Accounts
31 January 2023
Harbourdale Capital Limited
Registered number: 01863544
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 3,371 3,966
Investments 5 105,004 105,004
108,375 108,970
Current assets
Debtors 6 11,753 878
Investments held as current assets 7 2,989,777 3,080,810
Cash at bank and in hand 99,653 227,597
3,101,183 3,309,285
Creditors: amounts falling due within one year 8 (5,066) (8,924)
Net current assets 3,096,117 3,300,361
Total assets less current liabilities 3,204,492 3,409,331
Creditors: amounts falling due after more than one year 9 (3,319,887) (3,313,281)
Net (liabilities)/assets (115,395) 96,050
Capital and reserves
Called up share capital 2 2
Profit and loss account (115,397) 96,048
Shareholders' funds (115,395) 96,050
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T A Shelbourn
Director
Approved by the board on 2 October 2023
Harbourdale Capital Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is from earned rental income and it is recognised on an accruals basis in accordance with the substance of the relevant agreement.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 15% - reducing balance
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.
Investments held as curent assets
Investments held as current assets are investments in shares of quoted companies and are included at fair value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Taxation
At 31 January 2023, the company had significant unrelieved tax losses that are available to offset against future taxable trading profits. Given the uncertainty of future taxable profits, no provision has been made for deferred tax asset.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 4,504
At 31 January 2023 4,504
Depreciation
At 1 February 2022 538
Charge for the year 595
At 31 January 2023 1,133
Net book value
At 31 January 2023 3,371
At 31 January 2022 3,966
5 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Fair Value
At 1 February 2022 4 105,000 105,004
At 31 January 2023 4 105,000 105,004
Historical cost
At 1 February 2022 4 147,000
At 31 January 2023 4 147,000
The other investment represents a piece of land which has been revalued during the year by a professional independent valuer. The revaluation has been recognised through the profit and loss account.
6 Debtors 2023 2022
£ £
Other debtors 11,753 878
7 Investments held as current assets 2023 2022
£ £
Fair value
Listed investments 2,989,777 3,080,810
(Decrease)/increase in fair value included in the profit and loss account for the financial year
Listed investments (103,518) 82,944
The investments held are equity investments and have been included at their market value as at 31 January 2023.
8 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,635 6,641
Amounts owed to group undertakings and undertakings in which the company has a participating interest 4 4
Taxation and social security costs 1,847 509
Other creditors 1,580 1,770
5,066 8,924
9 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 3,319,887 3,313,281
10 Related party transactions
As at 31 January 2023, an amount of £3,319,887 (2022: £3,313,281) was owed by the company to the directors.
11 Controlling party
The ultimate controlling party is T A Shelbourn.
12 Other information
Harbourdale Capital Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hine House
25 Regent Street
Nottingham
NG1 5BS
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