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REGISTERED NUMBER: 09503488 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

HARRISON MORGAN LIMITED
TRADING AS
HELM

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARRISON MORGAN LIMITED
TRADING AS HELM

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTORS: S Morgan
P Harrison
Ms A J Hills-Balfour
R Haller





REGISTERED OFFICE: 10 London Mews
Paddington
LONDON
W2 1HY





REGISTERED NUMBER: 09503488 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

BALANCE SHEET
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,752 33,391

CURRENT ASSETS
Debtors 5 4,147,615 2,599,381
Cash at bank 729,050 312,615
4,876,665 2,911,996
CREDITORS
Amounts falling due within one year 6 4,861,539 2,966,738
NET CURRENT ASSETS/(LIABILITIES) 15,126 (54,742 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,878

(21,351

)

CREDITORS
Amounts falling due after more than one
year

7

(87,182

)

(25,780

)

PROVISIONS FOR LIABILITIES - (6,344 )
NET LIABILITIES (25,304 ) (53,475 )

CAPITAL AND RESERVES
Called up share capital 9 42,000 30,000
Share premium 588,000 -
Retained earnings (655,304 ) (83,475 )
SHAREHOLDERS' FUNDS (25,304 ) (53,475 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

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.

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

BALANCE SHEET - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 19 July 2024 and were signed on its behalf by:




S Morgan - Director



P Harrison - Director


HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Harrison Morgan Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The accounts have been prepared on the going concern basis. The directors consider that there are no material uncertainties regarding the company's ability to continue in operational existence for the foreseeable future, which is deemed to be 12 months from the date of approval of the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net commission receivable, excluding value added tax. Commission arises on the brokering of yachting holidays and is recognised on a date of travel basis. All commission on holidays with a date of travel within the year is recognised in full.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33.33% straight line
Website & Computer equipmt - 33.33% straight line

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors and other creditors.

The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost.

Taxation
Taxation for the year comprises current tax 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 taxation assets and liabilities are not discounted.

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.


HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

2. 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 contributes to a work place pension scheme. Contributions payable to the scheme are charged to the profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures Website &
Short and Computer
leasehold fittings equipmt Totals
£    £    £    £   
COST
At 1 December 2022 - 6,795 165,184 171,979
Additions 7,283 2,377 36,791 46,451
At 30 November 2023 7,283 9,172 201,975 218,430
DEPRECIATION
At 1 December 2022 - 5,888 132,700 138,588
Charge for year 607 1,251 31,232 33,090
At 30 November 2023 607 7,139 163,932 171,678
NET BOOK VALUE
At 30 November 2023 6,676 2,033 38,043 46,752
At 30 November 2022 - 907 32,484 33,391

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

5. DEBTORS
30.11.23 30.11.22
£    £   
Amounts falling due within one year:
Trade debtors 3,842,357 2,430,437
Amounts owed by group undertakings 1 1,710
Other debtors 239,407 167,234
4,081,765 2,599,381

Amounts falling due after more than one year:
Trade debtors 65,850 -

Aggregate amounts 4,147,615 2,599,381

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 45,156 9,907
Trade creditors 3,774,822 2,430,313
Social security and other taxes 16,373 -
Other creditors - (5,827 )
Directors' current accounts 203,771 -
Deferred income 811,417 522,345
Accrued expenses 10,000 10,000
4,861,539 2,966,738

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 10,375 10,119
Bank loans - 2-5 years 5,289 15,661
Trade creditors 54,226 -
Deferred income 17,292 -
87,182 25,780

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.23 30.11.22
£    £   
Within one year 75,184 -
Between one and five years 269,409 -
344,593 -

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
42,000 Ordinary £1 42,000 30,000

12,000 Ordinary shares of £1 each were allotted as fully paid at a premium of £49.00 per share during the year.

All shares have the same income, capital and winding up rights.

10. RELATED PARTY DISCLOSURES

During the year the directors loaned the company £203,771. As at 30th November 2023, the company owes the directors £203,771 (included within Other Creditors). The loans are repayable on demand and interest is charged.