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REGISTERED NUMBER: SC221198 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Harbour Lights (Peterhead) Limited

Harbour Lights (Peterhead) Limited (Registered number: SC221198)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harbour Lights (Peterhead) Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: I Sangster





REGISTERED OFFICE: 122 Longate
Peterhead
Aberdeenshire
AB42 1JU





REGISTERED NUMBER: SC221198 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Harbour Lights (Peterhead) Limited (Registered number: SC221198)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 301,077 313,337
Investment property 5 80,000 80,000
381,077 393,337

CURRENT ASSETS
Stocks 18,417 20,591
Debtors 6 19,669 9,450
Cash at bank and in hand 81,779 186,878
119,865 216,919
CREDITORS
Amounts falling due within one year 7 103,097 142,265
NET CURRENT ASSETS 16,768 74,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

397,845

467,991

CREDITORS
Amounts falling due after more than one
year

8

-

(19,702

)

PROVISIONS FOR LIABILITIES (7,330 ) (8,013 )
NET ASSETS 390,515 440,276

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 27,934 27,934
Retained earnings 10 362,481 412,242
SHAREHOLDERS' FUNDS 390,515 440,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Harbour Lights (Peterhead) Limited (Registered number: SC221198)

Balance Sheet - continued
31 July 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2023 and were signed by:





I Sangster - Director


Harbour Lights (Peterhead) Limited (Registered number: SC221198)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Harbour Lights (Peterhead) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents the amounts (excluding value added tax) derived from the provision of goods to customers. Revenue is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant & Equipment - 15% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Investment property
The investment properties were valued at fair value on 31 July 2023 by the company director. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Harbour Lights (Peterhead) Limited (Registered number: SC221198)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant & and Computer
property Equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 449,935 67,930 850 3,213 521,928
Additions - 8,416 - - 8,416
Disposals - (6,720 ) - - (6,720 )
At 31 July 2023 449,935 69,626 850 3,213 523,624
DEPRECIATION
At 1 August 2022 166,366 39,264 571 2,390 208,591
Charge for year 9,000 8,134 56 798 17,988
Eliminated on disposal - (4,032 ) - - (4,032 )
At 31 July 2023 175,366 43,366 627 3,188 222,547
NET BOOK VALUE
At 31 July 2023 274,569 26,260 223 25 301,077
At 31 July 2022 283,569 28,666 279 823 313,337

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 80,000
NET BOOK VALUE
At 31 July 2023 80,000
At 31 July 2022 80,000

Harbour Lights (Peterhead) Limited (Registered number: SC221198)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2017 30,291
Cost 49,709
80,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 19,669 9,450

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts - 8,244
Trade creditors 30,451 34,671
Taxation and social security 10,760 26,376
Other creditors 61,886 72,974
103,097 142,265

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 19,702

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans - 27,946

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 August 2022 412,242 27,934 440,176
Deficit for the year (17,365 ) (17,365 )
Dividends (32,396 ) (32,396 )
At 31 July 2023 362,481 27,934 390,415