Acorah Software Products - Accounts Production 14.5.601 false true 28 February 2022 1 March 2021 false 1 March 2022 28 February 2023 28 February 2023 12472925 Miss E Raducanu iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12472925 2022-02-28 12472925 2023-02-28 12472925 2022-03-01 2023-02-28 12472925 frs-core:CurrentFinancialInstruments 2023-02-28 12472925 frs-core:PlantMachinery 2023-02-28 12472925 frs-core:PlantMachinery 2022-03-01 2023-02-28 12472925 frs-core:PlantMachinery 2022-02-28 12472925 frs-core:ShareCapital 2023-02-28 12472925 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 12472925 frs-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12472925 frs-bus:FilletedAccounts 2022-03-01 2023-02-28 12472925 frs-bus:SmallEntities 2022-03-01 2023-02-28 12472925 frs-bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 12472925 frs-bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 12472925 frs-bus:Director1 2022-03-01 2023-02-28 12472925 frs-countries:EnglandWales 2022-03-01 2023-02-28 12472925 2021-02-28 12472925 2022-02-28 12472925 2021-03-01 2022-02-28 12472925 frs-core:CurrentFinancialInstruments 2022-02-28 12472925 frs-core:ShareCapital 2022-02-28 12472925 frs-core:RetainedEarningsAccumulatedLosses 2022-02-28 12472925 frs-core:CurrentFinancialInstruments 1 2022-02-28
Harbour 6 Limited
Unaudited Financial Statements
For The Year Ended 28 February 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12472925
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,900 3,400
2,900 3,400
CURRENT ASSETS
Stocks 5 2,332,190 216,285
Debtors 6 1,627,697 -
Cash at bank and in hand 6,285,631 451,588
10,245,518 667,873
Creditors: Amounts Falling Due Within One Year 7 (2,231,844 ) (321,170 )
NET CURRENT ASSETS (LIABILITIES) 8,013,674 346,703
TOTAL ASSETS LESS CURRENT LIABILITIES 8,016,574 350,103
PROVISIONS FOR LIABILITIES
Deferred Taxation (550 ) (650 )
NET ASSETS 8,016,024 349,453
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 8,015,924 349,353
SHAREHOLDERS' FUNDS 8,016,024 349,453
Page 1
Page 2
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss E Raducanu
Director
15 April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Harbour 6 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12472925 . The registered office is Gowran House, 56 Broad Street, Chipping Sodbury, Bristol, BS37 6AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.5. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Corporation tax payable of £1,869,879 (2022: £83,016) has been reduced by foreign tax of £62,731 (2022: £4,463) to £1,807,148 (2022: £78,553).
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2022 4,659
As at 28 February 2023 4,659
Depreciation
As at 1 March 2022 1,259
Provided during the period 500
As at 28 February 2023 1,759
Net Book Value
As at 28 February 2023 2,900
As at 1 March 2022 3,400
5. Stocks
2023 2022
£ £
Work in progress 2,332,190 216,285
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,627,697 -
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 1,807,148 90,760
VAT 74,088 1,424
Fees received in advance - 179,903
Director's loan account 350,608 49,083
2,231,844 321,170
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5