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REGISTERED NUMBER: SC020994 (Scotland)













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: L M Harris





SECRETARY: L M Harris





REGISTERED OFFICE: Kingsland Gardens, Flat 1/2
24 Broompark Drive
Newton Mearns
GLASGOW
G77 5DX





REGISTERED NUMBER: SC020994 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
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 4 377 247
Investment property 5 510,000 510,000
510,377 510,247

CURRENT ASSETS
Debtors 6 - 265
Cash at bank 1,636 41
1,636 306
CREDITORS
Amounts falling due within one year 7 121,755 139,278
NET CURRENT LIABILITIES (120,119 ) (138,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

390,258

371,275

PROVISIONS FOR LIABILITIES 4,174 4,174
NET ASSETS 386,084 367,101

CAPITAL AND RESERVES
Called up share capital 500 500
Revaluation reserve 8 92,630 92,630
Retained earnings 292,954 273,971
SHAREHOLDERS' FUNDS 386,084 367,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 2024 in accordance with Section 476 of the Companies Act 2006.

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


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 director and authorised for issue on 6 August 2024 and were signed by:





L M Harris - Director


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 private company, limited by shares , registered in Scotland. 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.

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 April 2023 1,459
Additions 376
At 29 April 2024 1,835
DEPRECIATION
At 30 April 2023 1,212
Charge for year 246
At 29 April 2024 1,458
NET BOOK VALUE
At 29 April 2024 377
At 29 April 2023 247

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 April 2023
and 29 April 2024 510,000
NET BOOK VALUE
At 29 April 2024 510,000
At 29 April 2023 510,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.4.24 29.4.23
£    £   
Other debtors - 265

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 - 9,928
Taxation and social security 4,423 3,955
Other creditors 117,332 125,395
121,755 139,278

8. RESERVES
Revaluation
reserve
£   
At 30 April 2023
and 29 April 2024 92,630

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.