REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
DATA HARVEST GROUP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
DATA HARVEST GROUP LIMITED |
DATA HARVEST GROUP LIMITED (REGISTERED NUMBER: 01933090) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DATA HARVEST GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
2 Manor Farm Court |
Old Wolverton Road |
Old Wolverton |
Buckinghamshire |
MK12 5NN |
DATA HARVEST GROUP LIMITED (REGISTERED NUMBER: 01933090) |
BALANCE SHEET |
30 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
DATA HARVEST GROUP LIMITED (REGISTERED NUMBER: 01933090) |
BALANCE SHEET - continued |
30 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 11 | 188,391 | 188,391 |
Share premium | 12 | 210,460 | 210,460 |
Revaluation reserve | 12 | 288,062 | 298,652 |
Retained earnings | 12 | (90,942 | ) | (196,414 | ) |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DATA HARVEST GROUP LIMITED (REGISTERED NUMBER: 01933090) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Data Harvest Group Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS |
The financial statements contain information about Data Harvest Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
TURNOVER |
The company's turnover represents the value, excluding value added tax, of goods supplied to customers during the year. A sale is recognised when revenue and associated costs can be measured reliably and future economic benefits are probable. Revenue is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of discounts and VAT. |
TANGIBLE FIXED ASSETS |
Land and buildings | - |
Plant and equipment | - |
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 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. |
DATA HARVEST GROUP LIMITED (REGISTERED NUMBER: 01933090) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
3. | ACCOUNTING POLICIES - continued |
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. |
RESEARCH AND DEVELOPMENT |
Expenditure on research and development is written off in the year in which it is incurred. |
FOREIGN CURRENCIES |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
DEBTORS AND CREDITORS RECEIVABLE / PAYABLE WITHIN ONE YEAR |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. |
GOVERNMENT GRANTS |
Government grants are recognised in the Income Statement so as to match them with the expenditure towards which they are intended to contribute. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
DATA HARVEST GROUP LIMITED (REGISTERED NUMBER: 01933090) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
5. | TANGIBLE FIXED ASSETS |
Land and | Plant and |
buildings | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
The freehold property was valued on 30 June 2019 by the directors, based on professional advice received from independent valuers. If the freehold property were to be sold at its carrying value, taxation of £4,573 would be payable (2022 - £7,095). This amount has been included within the deferred tax provision. |
If the freehold land and buildings had not been revalued, they would have been stated at their original cost of £243,588 (2022 - £243,588) less accumulated depreciation of £111,317 (2022 - £106,478). |
The estimated value of the land is £100,000 (2022: £100,000) which is not depreciated. |
The directors are of the opinion that there was no material difference between the carrying value of the freehold land and buildings as disclosed in these financial statements and the valuation as at the date of approval of the financial statements. |
6. | FIXED ASSET INVESTMENTS |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
The company has 100% ownership of Educational Electronics Limited, a dormant company, which has share capital of 10,000 ordinary shares of £1 each. |
The company has 100% ownership of Data Harvest Limited, a dormant company, which has share capital of 100 ordinary shares of £1 each. |
DATA HARVEST GROUP LIMITED (REGISTERED NUMBER: 01933090) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Taxation | - | 79,138 |
VAT |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans | 47,112 | 43,501 |
Trade creditors |
Social security and other taxes |
VAT | - | 2,293 |
Other creditors |
Directors' current accounts | 75,000 | 70,000 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Unsecured shareholder loans |
Other loans | 145,641 | 192,753 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Other loans |
The other loans are secured by a fixed charge over the freehold property and a limited floating charge over plant and equipment in the property, and also covered by personal guarantees by majority shareholders. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 188,391 | 188,391 |
DATA HARVEST GROUP LIMITED (REGISTERED NUMBER: 01933090) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
12. | RESERVES |
Retained | Share | Revaluation |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
At 1 July 2022 | (196,414 | ) | 210,460 | 298,652 | 312,698 |
Profit for the year | 94,882 | 94,882 |
Realised revaluation reserve | 14,209 | - | (14,209 | ) | - |
Tax on revaluation | (3,619 | ) | - | 3,619 | - |
At 30 June 2023 | (90,942 | ) | 210,460 | 288,062 | 407,580 |
Tax on revaluation represents the movement in deferred tax charge accounted for, if the freehold property were to be sold at its carrying value. |
13. | OTHER FINANCIAL COMMITMENTS |
The company has financial commitments at 30 June 2023 of £29,885 (2022: £51,553) in respect of future payments under lease agreements. Of the total payable, £28,500 (2022: £47,500) relates to a lease for property payable at the rate of £19,000 per annum until January 2025. |