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Registered number: 02510804










HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED
(A company limited by guarantee)








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2023

 
HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED
 
(A company limited by guarantee)
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 5


 
HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 02510804

BALANCE SHEET
AS AT 25 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,846
4,065

Current assets
  

Debtors: amounts falling due within one year
 5 
-
33,761

Cash at bank and in hand
  
276,385
280,728

  
276,385
314,489

Creditors: amounts falling due within one year
 6 
(118,703)
(105,863)

Net current assets
  
 
 
157,682
 
 
208,626

Total assets less current liabilities
  
161,528
212,691

  

Net assets
  
161,528
212,691


Capital and reserves
  

Profit and loss account
  
161,528
212,691

  
161,528
212,691


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


L.W MacPherson
Director

Date: 12 August 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2023

1.


General information

Harborne Retailers Management Company Limited (the company) is a private company, limited by guarantee and incorporated and domiciled in England.  The registered office of the company is Rutland House, 148 Edmund Street, Birmingham, West Midlands, B3 2FD and its principal place of business is High Street, Harborne, Birmingham, West Midlands. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Rental income and service charges are recognised on a receivable basis.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Leasehold property - car park, Harborne
-
2% straight line
Car park refurbishment
-
20% straight line

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Page 2

 
HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees



The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 3

 
HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2023

4.


Tangible fixed assets





Leasehold property
Car park refurbish't
Total

£
£
£



Cost


At 26 December 2022
10,964
62,746
73,710



At 25 December 2023

10,964
62,746
73,710



Depreciation


At 26 December 2022
6,899
62,746
69,645


Charge for the year on owned assets
219
-
219



At 25 December 2023

7,118
62,746
69,864



Net book value



At 25 December 2023
3,846
-
3,846



At 25 December 2022
4,065
-
4,065


5.


Debtors

2023
2022
£
£


Other debtors
-
13,761

Prepayments and accrued income
-
20,000

-
33,761



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,000
7,000

Corporation tax
15,600
36,032

Other creditors
57,291
-

Accruals and deferred income
43,812
62,831

118,703
105,863


Page 4

 
HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2023

7.


Commitments under operating leases

At 25 December 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
91,490
80,000

Later than 1 year and not later than 5 years
182,980
60,000

274,470
140,000

 
Page 5