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COMPANY REGISTRATION NUMBER: 05112291
Harkin (Holdings) Ltd
Filleted Unaudited Financial Statements
31 March 2021
Harkin (Holdings) Ltd
Financial Statements
Year ended 31 March 2021
Contents
Page
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Harkin (Holdings) Ltd
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Harkin (Holdings) Ltd
Year ended 31 March 2021
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2021, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
VAGHELA & CO. (SERVICES) LTD. Chartered Certified Accountants
P.O. Box 10901 Birmingham B1 1ZQ
13 February 2024
Harkin (Holdings) Ltd
Statement of Financial Position
31 March 2021
2021
2020
Note
£
£
£
£
Current assets
Debtors
6
119,930
125,335
Cash at bank and in hand
47,167
50,897
---------
---------
167,097
176,232
Creditors: amounts falling due within one year
7
246,906
246,406
---------
---------
Net current liabilities
79,809
70,174
--------
--------
Total assets less current liabilities
( 79,809)
( 70,174)
--------
--------
Net liabilities
( 79,809)
( 70,174)
--------
--------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
( 79,909)
( 70,274)
--------
--------
Shareholders deficit
( 79,809)
( 70,174)
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 February 2024 , and are signed on behalf of the board by:
Mr P.A. Harkin
Director
Company registration number: 05112291
Harkin (Holdings) Ltd
Notes to the Financial Statements
Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 42 Fulford Hall Road, Tidbury Green, Solihull, West Midlands, B90 1QX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
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.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date except that deferred tax assets are recognised only to the extent that the directors anticipate that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax balances are not discounted.
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:
Office Equipment
-
15% reducing balance
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2020: 1 ).
5. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2021
2020
£
£
Dividends on equity shares
120,000
----
---------
6. Debtors
2021
2020
£
£
Other debtors
119,930
125,335
---------
---------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
3,600
3,601
Social security and other taxes
34,523
33,657
Other creditors
208,783
209,148
---------
---------
246,906
246,406
---------
---------
8. Called up share capital
Authorised share capital
2021
2020
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
Issued, called up and fully paid
2021
2020
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Directors' advances, credits and guarantees
At 31st March 2021, other creditors include the following amounts due to the director:- Mrs K. Harkin £783 (2020 - £1,148) The loans are interest free and repayable on demand
10. Related party transactions