Company registration number 05839915 (England and Wales)
HARVEY BOWES LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
HARVEY BOWES LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
HARVEY BOWES LTD
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
4,995
4,995
Tangible assets
4
31,343
8,258
36,338
13,253
Current assets
Debtors
5
10,051
4,174
Cash at bank and in hand
237
233
10,288
4,407
Creditors: amounts falling due within one year
6
(279,109)
(231,250)
Net current liabilities
(268,821)
(226,843)
Total assets less current liabilities
(232,483)
(213,590)
Provisions for liabilities
20,762
19,686
Net liabilities
(211,721)
(193,904)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(211,821)
(194,004)
Total equity
(211,721)
(193,904)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 25 October 2023
Mr M H Bowes
Director
Company Registration No. 05839915
HARVEY BOWES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2021
100
(197,012)
(196,912)
Period ended 31 March 2022:
Profit and total comprehensive income
-
3,008
3,008
Balance at 31 March 2022
100
(194,004)
(193,904)
Period ended 31 December 2022:
Loss and total comprehensive income
-
(17,817)
(17,817)
Balance at 31 December 2022
100
(211,821)
(211,721)
HARVEY BOWES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information

Harvey Bowes Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bridge Street, Newport, Gwent, NP20 4AL.

1.1
Reporting period

The current reporting period is shorter than one year and therefore the comparative amounts presented in these financial statements are not entirely comparable. The reporting period changed for commercial reasons.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

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

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

 

The intangible asset represents a vehicle registration that will maintain the value and as a result no amortisation is charged.

Intangibles
Nil depreciation
1.5
Tangible fixed assets

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:

Freehold land and buildings
Nil depreciation
Fixtures and fittings
25% Reducing balance
Motor vehicles
15% Reducing balance
HARVEY BOWES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

HARVEY BOWES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2022
2022
Number
Number
Total
1
1
3
Intangible fixed assets
Intangibles
£
Cost
At 1 April 2022 and 31 December 2022
4,995
Amortisation and impairment
At 1 April 2022 and 31 December 2022
-
0
Carrying amount
At 31 December 2022
4,995
At 31 March 2022
4,995
HARVEY BOWES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022
750
14,598
13,966
29,314
Additions
-
0
-
0
29,400
29,400
At 31 December 2022
750
14,598
43,366
58,714
Depreciation and impairment
At 1 April 2022
-
0
11,232
9,824
21,056
Depreciation charged in the period
-
0
379
5,936
6,315
At 31 December 2022
-
0
11,611
15,760
27,371
Carrying amount
At 31 December 2022
750
2,987
27,606
31,343
At 31 March 2022
750
3,366
4,142
8,258
5
Debtors
2022
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
758
-
0
Amounts owed by group undertakings
4,174
4,174
Other debtors
5,119
-
0
10,051
4,174
6
Creditors: amounts falling due within one year
2022
2022
£
£
Other creditors
279,109
231,250
7
Called up share capital
2022
2022
2022
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
HARVEY BOWES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 7 -
7
Called up share capital
2022
2022
2022
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
2022-12-312022-04-01false25 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr M H Bowes058399152022-04-012022-12-31058399152022-12-31058399152021-04-012022-03-3105839915core:DiscontinuedOperations2021-04-012022-03-31058399152022-03-3105839915core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3105839915core:FurnitureFittings2022-12-3105839915core:MotorVehicles2022-12-3105839915core:LandBuildingscore:OwnedOrFreeholdAssets2022-03-3105839915core:FurnitureFittings2022-03-3105839915core:MotorVehicles2022-03-3105839915core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3105839915core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3105839915core:CurrentFinancialInstruments2022-12-3105839915core:CurrentFinancialInstruments2022-03-3105839915core:ShareCapital2022-12-3105839915core:ShareCapital2022-03-3105839915core:RetainedEarningsAccumulatedLosses2022-12-3105839915core:RetainedEarningsAccumulatedLosses2022-03-3105839915core:ShareCapital2021-03-3105839915core:RetainedEarningsAccumulatedLosses2021-03-3105839915bus:Director12022-04-012022-12-3105839915core:RetainedEarningsAccumulatedLosses2021-04-012022-03-3105839915core:RetainedEarningsAccumulatedLosses2022-04-012022-12-3105839915core:IntangibleAssetsOtherThanGoodwill2022-04-012022-12-3105839915core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-04-012022-12-3105839915core:LandBuildingscore:OwnedOrFreeholdAssets2022-04-012022-12-3105839915core:FurnitureFittings2022-04-012022-12-3105839915core:MotorVehicles2022-04-012022-12-3105839915core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-03-3105839915core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-12-3105839915core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-03-3105839915core:LandBuildingscore:OwnedOrFreeholdAssets2022-03-3105839915core:FurnitureFittings2022-03-3105839915core:MotorVehicles2022-03-31058399152022-03-3105839915core:WithinOneYear2022-12-3105839915core:WithinOneYear2022-03-3105839915bus:PrivateLimitedCompanyLtd2022-04-012022-12-3105839915bus:SmallCompaniesRegimeForAccounts2022-04-012022-12-3105839915bus:FRS1022022-04-012022-12-3105839915bus:AuditExemptWithAccountantsReport2022-04-012022-12-3105839915bus:FullAccounts2022-04-012022-12-31xbrli:purexbrli:sharesiso4217:GBP