REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 April 2024 |
for |
L.M.Harris & Son Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 April 2024 |
for |
L.M.Harris & Son Limited |
L.M.Harris & Son Limited (Registered number: SC020994) |
Contents of the Financial Statements |
for the Year Ended 29 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
L.M.Harris & Son Limited |
Company Information |
for the Year Ended 29 April 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Pavilion 1 |
Finnieston Business Park |
Minerva Way |
GLASGOW |
G3 8AU |
L.M.Harris & Son Limited (Registered number: SC020994) |
Balance Sheet |
29 April 2024 |
29.4.24 | 29.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
L.M.Harris & Son Limited (Registered number: SC020994) |
Balance Sheet - continued |
29 April 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
L.M.Harris & Son Limited (Registered number: SC020994) |
Notes to the Financial Statements |
for the Year Ended 29 April 2024 |
1. | STATUTORY INFORMATION |
L.M.Harris & Son Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
Turnover |
Gross rents received and receivable from properties are included in the profit and loss account. Provision is made for any rents due not considered recoverable. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery etc - 33% on cost |
No depreciation is provided in respect of investments properties. The directors consider that this accounting policy (which represents a departure from the statutory accounting principles) is necessary to provide a true and fair view. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
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. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of any transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
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 or deferred 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. |
L.M.Harris & Son Limited (Registered number: SC020994) |
Notes to the Financial Statements - continued |
for the Year Ended 29 April 2024 |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 30 April 2023 |
Additions |
At 29 April 2024 |
DEPRECIATION |
At 30 April 2023 |
Charge for year |
At 29 April 2024 |
NET BOOK VALUE |
At 29 April 2024 |
At 29 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 30 April 2023 |
and 29 April 2024 |
NET BOOK VALUE |
At 29 April 2024 |
At 29 April 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.4.24 | 29.4.23 |
£ | £ |
Other debtors |
L.M.Harris & Son Limited (Registered number: SC020994) |
Notes to the Financial Statements - continued |
for the Year Ended 29 April 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.4.24 | 29.4.23 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 30 April 2023 |
and 29 April 2024 |
9. | RELATED PARTY DISCLOSURES |
Included in Creditors amounts falling due within one year is an amount of £110,172 (2023: £121,317) due by the company to Mr L M Harris. The amount is interest free and has no fixed repayment date. |
10. | ULTIMATE CONTROLLING PARTY |
The company is under the control of Mr L M Harris. |