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Filleted

Registration number: 13753770

Harbwr Saundersfoot Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Harbwr Saundersfoot Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Harbwr Saundersfoot Limited

Company Information

Directors

Mr M Evans

Ms J Jones

Mr R Barnes

Registered office

Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

 

Harbwr Saundersfoot Limited

(Registration number: 13753770)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

188,014

209,391

Current assets

 

Stocks

6

4,500

4,500

Debtors

7

340,241

3,806

Cash at bank and in hand

 

34,362

312,523

 

379,103

320,829

Creditors: Amounts falling due within one year

8

(336,759)

(444,845)

Net current assets/(liabilities)

 

42,344

(124,016)

Total assets less current liabilities

 

230,358

85,375

Provisions for liabilities

(34,837)

(32,220)

Net assets

 

195,521

53,155

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

195,421

53,055

Total equity

 

195,521

53,155

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Harbwr Saundersfoot Limited

(Registration number: 13753770)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 13 August 2024 and signed on its behalf by:
 

.........................................
Mr M Evans
Director

   
     
 

Harbwr Saundersfoot Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

These financial statements were authorised for issue by the Board on 13 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Harbwr Saundersfoot Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% - 33% Reducing balance

Fixture and fittings

15% Reducing balance

Office equipment

33% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Harbwr Saundersfoot Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 63 (2022 - 48).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

33,085

11,277

 

Harbwr Saundersfoot Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 December 2022

180,183

32,696

495

7,294

Additions

2,029

9,677

-

-

At 30 November 2023

182,212

42,373

495

7,294

Depreciation

At 1 December 2022

9,009

1,635

25

608

Charge for the year

25,874

5,468

70

1,671

At 30 November 2023

34,883

7,103

95

2,279

Carrying amount

At 30 November 2023

147,329

35,270

400

5,015

At 30 November 2022

171,174

31,061

470

6,686

Total
£

Cost or valuation

At 1 December 2022

220,668

Additions

11,706

At 30 November 2023

232,374

Depreciation

At 1 December 2022

11,277

Charge for the year

33,083

At 30 November 2023

44,360

Carrying amount

At 30 November 2023

188,014

At 30 November 2022

209,391

6

Stocks

2023
£

2022
£

Other inventories

4,500

4,500

 

Harbwr Saundersfoot Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

7

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

11

334,500

500

Prepayments

 

2,555

2,053

Other debtors

 

3,186

1,253

 

340,241

3,806

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

64,671

88,733

Taxation and social security

 

83,299

150,798

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

90,560

86,000

Other related parties

 

1,124

89,403

Corporation tax liability

 

70,831

21,819

Other creditors

 

26,274

8,092

 

336,759

444,845

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         
 

Harbwr Saundersfoot Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

11

Related party transactions

During the year the company gave financial assistance to The Chem Inn (Saundersfoot) Limited, a company controlled by the directors. The balance due to the company at the balance sheet date was £10,500 (2022 £ £500). This loan is interest free and repayable on demand and has been included under note 10.

During the year the company gave financial assistance to Cobourg Development Company Limited, a company controlled by the director. The balance due to the company at the balance sheet date was £10,000. This loan is interest free and repayable on demand and has been included under note 10.

During the year the company gave financial assistance to The Buccaneer (Tenby) Limited, a company controlled by the director. The balance due to the company at the balance sheet date was £167,000. This loan is interest free and repayable on demand and has been included under note 10.

During the year the company gave financial assistance to Tenby Bookshop (Tenby) Limited, a company controlled by the director. The balance due to the company at the balance sheet date was £4,650. This loan is interest free and repayable on demand and has been included under note 10.

During the year the company received financial assistance from Harbwr Tenby Limited, a company controlled by the directors. The balance due from the company at the balance sheet date was £86,000 (2022 £86,000). This loan is interest free and repayable on demand and has been included under note 8.

During the year the company received financial assistance from Harbour Brewery Limited, a company controlled by the director. The balance due from the company at the balance sheet date was £147,000. This loan is interest free and repayable on demand and has been included under note 8.

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr M Evans

Loan interest free repayable on demand

(2,314)

83,441

(81,470)

(343)

         
       

Mr R Barnes

Loan interest free and repayable on demand

(87,089)

183,239

(96,478)

(328)

         
       

Ms J Jones

Loan interest free and repayable on demand

20

14,526

(15,000)

(454)

         
       

 

 

Harbwr Saundersfoot Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

2022

At 19 November 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr M Evans

Loan interest free repayable on demand

-

108,520

(110,834)

(2,314)

         
       

Mr R Barnes

Loan interest free and repayable on demand

-

24,225

(111,314)

(87,089)

         
       

Ms J Jones

Loan interest free and repayable on demand

-

20

-

20