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Company No: 11609181 (England and Wales)

HARBOURSOFT LTD

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

HARBOURSOFT LTD

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

HARBOURSOFT LTD

BALANCE SHEET

As at 30 November 2023
HARBOURSOFT LTD

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 5,966
Tangible assets 4 810 303
810 6,269
Current assets
Cash at bank and in hand 82,067 55,505
82,067 55,505
Creditors: amounts falling due within one year 5 ( 42,417) ( 33,565)
Net current assets 39,650 21,940
Total assets less current liabilities 40,460 28,209
Net assets 40,460 28,209
Capital and reserves
Called-up share capital 100 100
Profit and loss account 40,360 28,109
Total shareholders' funds 40,460 28,209

For the financial year ending 30 November 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 Harboursoft Ltd (registered number: 11609181) were approved and authorised for issue by the Director on 08 July 2024. They were signed on its behalf by:

P R Bass
Director
HARBOURSOFT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
HARBOURSOFT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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

Harboursoft Ltd (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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, England, 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.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
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.

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:

Goodwill 5 years straight line
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 on a reducing balance basis over its expected useful life, as follows:

Office equipment 25 % 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 December 2022 29,827 29,827
At 30 November 2023 29,827 29,827
Accumulated amortisation
At 01 December 2022 23,861 23,861
Charge for the financial year 5,966 5,966
At 30 November 2023 29,827 29,827
Net book value
At 30 November 2023 0 0
At 30 November 2022 5,966 5,966

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 December 2022 958 958
Additions 666 666
At 30 November 2023 1,624 1,624
Accumulated depreciation
At 01 December 2022 655 655
Charge for the financial year 159 159
At 30 November 2023 814 814
Net book value
At 30 November 2023 810 810
At 30 November 2022 303 303

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 37,993 29,836
Other creditors 4,424 3,729
42,417 33,565