Registered number
04828784
Harbour Systems Limited
Unaudited Filleted Accounts
31 March 2023
Harbour Systems Limited
Registered number: 04828784
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,190 10,098
Current assets
Stocks 30,940 29,741
Debtors 4 41,033 52,209
Cash at bank and in hand 32,775 22,317
104,748 104,267
Creditors: amounts falling due within one year 5 (73,763) (92,105)
Net current assets 30,985 12,162
Total assets less current liabilities 34,175 22,260
Creditors: amounts falling due after more than one year 6 (35,833) (40,833)
Provisions for liabilities (606) -
Net liabilities (2,264) (18,573)
Capital and reserves
Called up share capital 102 102
Profit and loss account (2,366) (18,675)
Shareholders' funds (2,264) (18,573)
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.
S. Goacher
Director
Approved by the board on 10 October 2023
Harbour Systems Limited
Notes to the Accounts
for the year ended 31 March 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
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:
Computer equipment over 5 years
Computer software over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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 5 5
3 Tangible fixed assets
Office Equipment Computer equipment Software development Total
£ £ £ £
Cost
At 1 April 2022 - 33,662 39,000 72,662
Additions 1,333 1,668 - 3,001
Disposals - (11,948) - (11,948)
At 31 March 2023 1,333 23,382 39,000 63,715
Depreciation
At 1 April 2022 - 30,564 32,000 62,564
Charge for the year 133 2,776 7,000 9,909
On disposals - (11,948) - (11,948)
At 31 March 2023 133 21,392 39,000 60,525
Net book value
At 31 March 2023 1,200 1,990 - 3,190
At 31 March 2022 - 3,098 7,000 10,098
4 Debtors 2023 2022
£ £
Trade debtors 35,279 37,209
Other debtors 5,754 15,000
41,033 52,209
5 Creditors: amounts falling due within one year 2023 2022
£ £
Non-equity preference shares 10 10
Bank loans and overdrafts 5,000 5,000
Trade creditors 15,253 9,752
Directors current accounts 9,764 (599)
Taxation and social security costs 40,134 72,051
Other creditors 3,602 5,891
73,763 92,105
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 35,833 40,833
7 Financial support
The company is dependent on the financial support of the directors, without which it would not be a going concern.
8 Controlling party
The company was controlled by S. Goacher and Mrs S. Goacher who between them own 100% of the company's issued ordinary share capital.
9 Other information
Harbour Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
Sunnybank
Lower Pennington Lane
Pennington, Lymington
Hampshire
SO41 8AN
Harbour Systems Limited 04828784 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 S. Goacher No description of principal activity 04828784 2021-04-01 2022-03-31 04828784 core:WithinOneYear 2022-03-31 04828784 core:AfterOneYear 2022-03-31 04828784 core:ShareCapital 2022-03-31 04828784 core:RetainedEarningsAccumulatedLosses 2022-03-31 04828784 2022-04-01 2023-03-31 04828784 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04828784 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04828784 bus:Director40 2022-04-01 2023-03-31 04828784 1 2022-04-01 2023-03-31 04828784 2 2022-04-01 2023-03-31 04828784 core:LandBuildings 2022-04-01 2023-03-31 04828784 core:PlantMachinery 2022-04-01 2023-03-31 04828784 core:Vehicles 2022-04-01 2023-03-31 04828784 countries:England 2022-04-01 2023-03-31 04828784 bus:FRS102 2022-04-01 2023-03-31 04828784 bus:FullAccounts 2022-04-01 2023-03-31 04828784 2023-03-31 04828784 core:WithinOneYear 2023-03-31 04828784 core:AfterOneYear 2023-03-31 04828784 core:ShareCapital 2023-03-31 04828784 core:RetainedEarningsAccumulatedLosses 2023-03-31 04828784 core:LandBuildings 2023-03-31 04828784 core:PlantMachinery 2023-03-31 04828784 core:Vehicles 2023-03-31 04828784 2022-03-31 04828784 core:LandBuildings 2022-03-31 04828784 core:PlantMachinery 2022-03-31 04828784 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure