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Company No: 04674309 (England and Wales)

HARRIS MCMILLAN LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

HARRIS MCMILLAN LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

HARRIS MCMILLAN LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2023
HARRIS MCMILLAN LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2023
DIRECTOR Mr L McAdam
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 04674309 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
HARRIS MCMILLAN LIMITED

BALANCE SHEET

As at 31 August 2023
HARRIS MCMILLAN LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 2,004 2,358
Tangible assets 4 38,123 42,197
40,127 44,555
Current assets
Debtors 5 30,914 23,287
Cash at bank and in hand 18,624 39,308
49,538 62,595
Creditors: amounts falling due within one year 6 ( 41,479) ( 49,028)
Net current assets 8,059 13,567
Total assets less current liabilities 48,186 58,122
Creditors: amounts falling due after more than one year 7 ( 16,713) ( 26,263)
Provision for liabilities ( 9,200) ( 10,200)
Net assets 22,273 21,659
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 22,173 21,559
Total shareholder's funds 22,273 21,659

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Harris McMillan Limited (registered number: 04674309) were approved and authorised for issue by the Director on 15 April 2024. They were signed on its behalf by:

Mr L McAdam
Director
HARRIS MCMILLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
HARRIS MCMILLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Harris McMillan Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 15 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset, as follows:

Vehicles 5 years straight line
Fixtures and fittings 15 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
During the year the company received £0 (2022: £231) in relation to Government grants.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 5

3. Intangible assets

Computer software Total
£ £
Cost
At 01 September 2022 4,502 4,502
At 31 August 2023 4,502 4,502
Accumulated amortisation
At 01 September 2022 2,144 2,144
Charge for the financial year 354 354
At 31 August 2023 2,498 2,498
Net book value
At 31 August 2023 2,004 2,004
At 31 August 2022 2,358 2,358

4. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 September 2022 20,268 4,818 126,458 151,544
Additions 0 0 5,098 5,098
At 31 August 2023 20,268 4,818 131,556 156,642
Accumulated depreciation
At 01 September 2022 7,094 4,818 97,435 109,347
Charge for the financial year 4,054 0 5,118 9,172
At 31 August 2023 11,148 4,818 102,553 118,519
Net book value
At 31 August 2023 9,120 0 29,003 38,123
At 31 August 2022 13,174 0 29,023 42,197

5. Debtors

2023 2022
£ £
Trade debtors 6,713 225
Prepayments 24,201 23,062
30,914 23,287

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,550 9,550
Accruals 10,831 10,686
Taxation and social security 20,213 21,747
Other creditors 885 7,045
41,479 49,028

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 16,713 26,263

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100

The A ordinary and B ordinary shares rank pari passu in all respects except with regards to dividends. The director shall be entitled to declare dividends on each class of share as they at their discretion see fit.

9. Related party transactions

Other related party transactions

2023 2022
£ £
Advanced to director 38,635 0
Repayment from director (38,635) 0

During the year £38,635 was advanced to a director before being repaid. Interest was charged at 2.25% and the loan was repayable on demand.