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31/01/2023
2023-01-31
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2021-08-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
05880048
2021-08-01
2023-01-31
05880048
2023-01-31
05880048
2021-07-31
05880048
2020-08-01
2021-07-31
05880048
2021-07-31
05880048
bus:Director1
2021-08-01
2023-01-31
05880048
core:IntangibleAssetsOtherThanGoodwill
2021-07-31
05880048
core:IntangibleAssetsOtherThanGoodwill
2023-01-31
05880048
core:FurnitureFittingsToolsEquipment
2021-07-31
05880048
core:FurnitureFittingsToolsEquipment
2023-01-31
05880048
core:MotorVehicles
2023-01-31
05880048
core:WithinOneYear
2023-01-31
05880048
core:WithinOneYear
2021-07-31
05880048
core:AfterOneYear
2021-07-31
05880048
core:ShareCapital
2023-01-31
05880048
core:ShareCapital
2021-07-31
05880048
core:RetainedEarningsAccumulatedLosses
2023-01-31
05880048
core:RetainedEarningsAccumulatedLosses
2021-07-31
05880048
core:IntangibleAssetsOtherThanGoodwill
2021-08-01
2023-01-31
05880048
core:FurnitureFittingsToolsEquipment
2021-08-01
2023-01-31
05880048
core:MotorVehicles
2021-08-01
2023-01-31
05880048
core:IntangibleAssetsOtherThanGoodwill
2021-07-31
05880048
core:FurnitureFittingsToolsEquipment
2021-07-31
05880048
bus:SmallEntities
2021-08-01
2023-01-31
05880048
bus:AuditExemptWithAccountantsReport
2021-08-01
2023-01-31
05880048
bus:FullAccounts
2021-08-01
2023-01-31
05880048
bus:SmallCompaniesRegimeForAccounts
2021-08-01
2023-01-31
05880048
bus:PrivateLimitedCompanyLtd
2021-08-01
2023-01-31
05880048
core:WithinOneYear
2021-08-01
2023-01-31
Company registration number:
05880048
Harley Street Solutions Limited
Unaudited filleted financial statements
31 January 2023
Harley Street Solutions Limited
Contents
Statement of financial position
Notes to the financial statements
Harley Street Solutions Limited
Statement of financial position
31 January 2023
|
|
|
31/01/23 |
|
|
|
31/07/21 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
82,560 |
|
|
|
87,847 |
|
|
Tangible assets |
|
6 |
59,808 |
|
|
|
1,597 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
142,368 |
|
|
|
89,444 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
28,384 |
|
|
|
20,024 |
|
|
Debtors |
|
7 |
174,569 |
|
|
|
12,332 |
|
|
Cash at bank and in hand |
|
|
791,094 |
|
|
|
460,466 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
994,047 |
|
|
|
492,822 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
161,459) |
|
|
|
(
157,895) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
832,588 |
|
|
|
334,927 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
974,956 |
|
|
|
424,371 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
- |
|
|
|
(
38,885) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
14,874) |
|
|
|
(
437) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
960,082 |
|
|
|
385,049 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
959,982 |
|
|
|
384,949 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholder funds |
|
|
|
|
960,082 |
|
|
|
385,049 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
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|
|
For the period ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 October 2023
, and are signed on behalf of the board by:
Mr Ashok Gupta
Director
Company registration number:
05880048
Harley Street Solutions Limited
Notes to the financial statements
Period ended 31 January 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Scottish Provident House, 3rd Floor, 76 - 80 College Road, Harrow, Middlesex, HA1 1BQ.
The principal activity of the company has been that of providing courses in time management and related matters including management of stress and retailing of DVD's and related books for courses and programmes dealing in health & related matters.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with his responsibilities as director, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future with continuing financial support from the shareholders. Thus, the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:Patents - over 5 yearsSoftware developement costs - over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Patents and Software developments costs
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 5 years. The software development costs are capitalised. The amortisation is calculated to write off the cost in equal amounts over 10 years.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Fittings fixtures and equipment |
- |
Straight line over 4 years |
|
|
Motor vehicles |
- |
Straight line over 4 years |
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost included all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.Stock cost is calculated at first in first out basis.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
(2021:
1
).
5.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 August 2021 |
201,259 |
201,259 |
|
|
|
|
|
Additions |
13,450 |
13,450 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 January 2023 |
214,709 |
214,709 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 August 2021 |
113,412 |
113,412 |
|
|
|
|
|
Charge for the period |
18,737 |
18,737 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 January 2023 |
132,149 |
132,149 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 January 2023 |
82,560 |
82,560 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 July 2021 |
87,847 |
87,847 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 August 2021 |
22,581 |
- |
22,581 |
|
|
|
|
|
Additions |
1,375 |
85,518 |
86,893 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 January 2023 |
23,956 |
85,518 |
109,474 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 August 2021 |
20,984 |
- |
20,984 |
|
|
|
|
|
Charge for the year |
1,679 |
27,003 |
28,682 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 January 2023 |
22,663 |
27,003 |
49,666 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 January 2023 |
1,293 |
58,515 |
59,808 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2021 |
1,597 |
- |
1,597 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
31/01/23 |
31/07/21 |
|
|
|
£ |
£ |
|
Trade debtors |
|
11,859 |
7,480 |
|
Other debtors |
|
162,710 |
4,852 |
|
|
|
_______ |
_______ |
|
|
|
174,569 |
12,332 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Included within other debtors are amounts owed by a connected company of £140,000 which are unsecured, interest free and repayable on demand.Comparative balance of other debtors has been changed, due to reclassification of debit balance for the amount of £1,852 from bank loans and overdrafts from creditors.
8.
Creditors: amounts falling due within one year
|
|
|
31/01/23 |
31/07/21 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts (Note 9.) |
|
- |
20,859 |
|
Trade creditors |
|
13,308 |
40,220 |
|
Corporation tax |
|
129,478 |
77,256 |
|
Social security and other taxes |
|
- |
6,222 |
|
Other creditors |
|
18,673 |
13,338 |
|
|
|
_______ |
_______ |
|
|
|
161,459 |
157,895 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Comparative balance of bank loans and overdrafts has been changed, due to reclassification of debit balance for the amount of £1,852 from bank loans and overdrafts from creditors to other debtors.
9.
Creditors: amounts falling due after more than one year
|
|
|
31/01/23 |
31/07/21 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
- |
38,885 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Comparative period
The current year figures are for the period from 1 August 2021 to 31 January 2023 and the comparatives are for the year from 1 August 2020 to 31 July 2021.