03067890falsethe ownership of the freehold of Palmerston Court and collection of ground rents therefrom2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/cd:CompanySecretary12022-07-012023-06-30http://www.companieshouse.gov.uk/pt:ShareCapital2022-06-30http://www.companieshouse.gov.uk/cd:Director12022-07-012023-06-30http://www.companieshouse.gov.uk/pt:SharePremium2022-06-30http://www.companieshouse.gov.uk/pt:ShareCapital2023-06-30http://www.companieshouse.gov.uk/cd:Director22022-07-012023-06-30http://www.companieshouse.gov.uk/pt:SharePremium2023-06-30http://www.companieshouse.gov.uk/cd:Director32022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director42022-07-012023-06-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12022-07-012023-06-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-07-012023-06-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-06-30http://www.companieshouse.gov.uk/2021-07-012022-06-30http://www.companieshouse.gov.uk/2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/cd:FRS1022022-07-012023-06-30http://www.companieshouse.gov.uk/2023-06-30http://www.companieshouse.gov.uk/cd:FullAccounts2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:LandBuildings2022-06-30http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:LandBuildings2023-06-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 03067890
HARVESTWAY LIMITED
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2023
Prepared By:
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
HARVESTWAY LIMITED
ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2023
DIRECTORS
CP Sheeter
F Kormendy
DF Samuels
W Driver (from 01/07/2022)
SECRETARY
Stephen J Woodward Limited
REGISTERED OFFICE
33-35 High Street
Harrow on the Hill
Middlesex
HA1 3HT
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 03067890
ACCOUNTANTS
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
HARVESTWAY LIMITED
ACCOUNTS
FOR THEYEARENDED30 JUNE 2023
CONTENTS
Page
Directors' Report3
Accountants' Report4
Statement Of Comprehensive Income5
Balance Sheet6
Notes To The Accounts7
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
HARVESTWAY LIMITED
DIRECTORS' REPORT
FOR THEYEARENDED30 June 2023
The directors present their report and accounts for theyearended30 June 2023
DIRECTORS
The directors who served during theyearwere as follows:
CP Sheeter
F Kormendy
DF Samuels
W Driver (from 01/07/2022)
STATEMENT OF DIRECTORS RESPONSIBILITIES
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulation.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements the directors are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgements and accounting estimates that are reasonable and prudent;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The report of the directors has been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.
This report was approved by the board on19 February 2024
CP Sheeter
Director
HARVESTWAY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED ACCOUNTS
OF HARVESTWAY LIMITED, FOR THE YEAR ENDED 30 JUNE 2023
In order to assist you to fulfill your duties under the Companies Act 2006, we have prepared for your approval the accounts of Harvestway Limited for the year ended 30 June 2023 as set out on pages 5 to (1) from the company's accounting records and from information and explanations you have given us.
As a practising member of the Institute of Chartered Accountants in England & Wales, we are subject to its ethical and other professional requirements which are detailed on their website.
This report is made solely to the Board of Directors of Harvestway Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Harvestway Limited and state those matters that we have agreed to state to the Board of Directors of Harvestway Limited, as a body, in this report, in accordance with the requirements of the Institute of Chartered Accountants in England & Wales as detailed on their website. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Harvestway Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Harvestway Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profitability of Harvestway Limited. You consider that Harvestway Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Harvestway Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
19 February 2024
HARVESTWAY LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THEYEARENDED30 June 2023
Notes20232022
££
TURNOVER2,7002,700
GROSS PROFIT2,7002,700
Administrative expenses(791)(643)
OPERATING PROFIT1,9092,057
Interest receivable and similar income792
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION1,9882,059
Tax on profit on ordinary activities3(378)(391)
PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION1,6101,668
HARVESTWAY LIMITED
BALANCE SHEET AT30 June 2023
Registered number: 03067890
20232022
Notes££
FIXED ASSETS
Tangible assets413,26113,261
CURRENT ASSETS
Debtors52,3803,255
Cash at bank and in hand21,87717,398
24,25720,653
CREDITORS: Amounts falling due within one year615,46413,470
NET CURRENT ASSETS8,7937,183
TOTAL ASSETS LESS CURRENT LIABILITIES22,05420,444
CAPITAL AND RESERVES
Called up share capital788
Share premium account812,90912,909
Profit and loss account99,1377,527
SHAREHOLDERS' FUNDS22,05420,444
For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
Approved by the board on19 February 2024and signed on their behalf by
.............................
CP Sheeter
Director
HARVESTWAY LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Investment properties are included in the financial statements at cost as it is considered that annual revaluation would be of no value to the members. No depreciation is provided on such property.
1c. Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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 all 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. 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.
1d. Turnover
Turnover represents the invoiced value of ground rents charged by the company.
2. EMPLOYEES
20232022
No.No.
Average number of employees/officers44
HARVESTWAY LIMITED
3. TAX ON ORDINARY ACTIVITIES
20232022
££
Corporation tax378391
378391
4. TANGIBLE FIXED ASSETS
Investment
PropertyTotal
££
Cost
At 1 July 202213,26113,261
At 30 June 202313,26113,261
Depreciation
At 30 June 2023--
Net Book Amounts
At 30 June 202313,26113,261
At 30 June 202213,26113,261
5. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors5501,425
Due from related party1,8301,830
2,3803,255
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax378391
Other creditors14,40012,510
Accruals686569
15,46413,470
HARVESTWAY LIMITED
7. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
8 Ordinary shares of £1 each88
88
8. SHARE PREMIUM ACCOUNT 20232022
££
Share premium account12,90912,909
9. PROFIT AND LOSS RESERVE 20232022
££
Opening balance7,5275,859
Profit for the year1,6101,668
9,1377,527
10. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS 20232022
££
Opening shareholders' funds20,44418,776
Profit for the year1,6101,668
Closing shareholders' funds22,05420,444
11. RELATED PARTY TRANSACTIONS
The directors of the company are also directors of Palmerston Court Management Limited, the company that manages the properties of Palmerston Court. Other debtors includes an amount of £1,830 (2022: £1,830) due from Palmerston Court Management Limited which is interest free.
12. CONTROLLING PARTY
The company is controlled by the eight equal shareholders.