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REGISTERED NUMBER: 06776992 (England and Wales)
















HARLEY REED INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022






HARLEY REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 06776992)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HARLEY REED INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: T.N. Tagoe
W. Tagoe





REGISTERED OFFICE: 21 Lodge Lane
Grays
Essex
RM17 5RY





REGISTERED NUMBER: 06776992 (England and Wales)






HARLEY REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 06776992)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 321 428
Investments 5 256,601 256,601
256,922 257,029

CURRENT ASSETS
Debtors 6 270,463 240,604
Cash at bank 3,366 30
273,829 240,634
CREDITORS
Amounts falling due within one year 7 1,032,893 1,056,145
NET CURRENT LIABILITIES (759,064 ) (815,511 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(502,142

)

(558,482

)

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (502,342 ) (558,682 )
SHAREHOLDERS' FUNDS (502,142 ) (558,482 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HARLEY REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 06776992)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2022


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:





T.N. Tagoe - Director


HARLEY REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 06776992)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Harley Reed International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company is insolvent but the financial statements have been prepared on a going concern basis as one of the directors and one of the associated undertakings and one of the group companies have undertaken to provide continuing financial support to enable the company to meet its liabilities as they fall due. It also assumes the recoverability of loans to group and associated undertakings as well as the recoverability of its investments in these companies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


HARLEY REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 06776992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments in subsidiary undertakings
Investments in group undertakings are stated at cost in the absence of any available financial statements of the subsidiaries or any available valuations.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 994
DEPRECIATION
At 1 January 2022 566
Charge for year 107
At 31 December 2022 673
NET BOOK VALUE
At 31 December 2022 321
At 31 December 2021 428

HARLEY REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 06776992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2022
and 31 December 2022 256,601
NET BOOK VALUE
At 31 December 2022 256,601
At 31 December 2021 256,601

Cost or valuation at 31 December 2022 is represented by:

Shares in
group
undertakings
£   
Valuation in 2021 (100,000 )
Cost 356,601
256,601

Despite the lack of up to date financial statements in respect of certain group undertakings, the directors consider the amounts above to be fairly stated and ultimately the recoverable amount.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 267,667 240,604
Other debtors 2,796 -
270,463 240,604

Despite the lack of up to date financial statements in respect of the group and associated undertakings to which the company has lent funds, the directors are of the opinion that the debts from them stated above are considered to be collectible.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed to group undertakings 441,731 469,525
Taxation and social security 49,532 36,302
Other creditors 541,630 550,318
1,032,893 1,056,145

HARLEY REED INTERNATIONAL LIMITED (REGISTERED NUMBER: 06776992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

8. RELATED PARTY DISCLOSURES

Balances with related parties
The following balances subsisted during the year:
2022 2021
T.N. Tagoe - Director £ £
Balance due to the director at end of the year (373,086 ) (382,086 )
2022 2021
W. Tagoe - Director £ £
Balance due from the director at end of the year 2,796 -

Owed to/from group and associated undertakings

Debtors
Harley Reed (Malawi) Limited - 13,999
Harley Reed (South Africa) Limited 169,066 149,836
Harley Reed (Ghana) Limited 42,315 35,005
Harley Reed (Nigeria) Limited 35,520 41,764
Harley Reed (Kenya) Limited 20,766 -
267,667 240,604
The directors are of the opinion that the debts due from these overseas company's are collectible.

Creditors
Harley Reed (UK) Limited (441,731 ) (469,525 )
Other creditors
Quest Haven Limited (a company controlled by T.N. Tagoe) (158,680 ) (158,680 )
The balances are unsecured, interest free and repayable on demand.