Registered number
09218900
Harbour Trees Ltd
Filleted Accounts
31 March 2024
Malcolm Franke & Co Ltd
Chartered Accountants
Harbour Trees Ltd
Registered number: 09218900
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 72,414 58,399
Current assets
Stock 200 200
Debtors 5 25,061 68,886
Cash at bank and in hand 43,476 9,288
68,737 78,374
Creditors: amounts falling due within one year 6 (42,821) (59,361)
Net current assets 25,916 19,013
Total assets less current liabilities 98,330 77,412
Creditors: amounts falling due after more than one year 7 (32,188) (28,212)
Provisions for liabilities (16,739) (12,566)
Net assets 49,403 36,634
Capital and reserves
Called up share capital 100 100
Profit and loss account 49,303 36,534
Shareholder's funds 49,403 36,634
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J C Smallman
Director
Date: 10 July 2024
Harbour Trees Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Machinery and equipment 25% of reducing balance
Motor vehicles 25% of reducing balance
With regard to the office building, the director is of the opinion that, with the intention being to ensure that the property is always kept in good repair, the residual value will never fall below the original cost.
Stock
Stock is measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 20,000
At 31 March 2024 20,000
Amortisation
At 1 April 2023 20,000
At 31 March 2024 20,000
Net book value
At 31 March 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 3 years.
4 Tangible fixed assets
Office building Machinery and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 5,458 84,085 63,640 153,183
Additions - 12,421 27,800 40,221
Disposals - (1,459) (7,645) (9,104)
At 31 March 2024 5,458 95,047 83,795 184,300
Depreciation
At 1 April 2023 - 57,616 37,168 94,784
Charge for the year - 9,557 12,762 22,319
On disposals - (797) (4,420) (5,217)
At 31 March 2024 - 66,376 45,510 111,886
Net book value
At 31 March 2024 5,458 28,671 38,285 72,414
At 31 March 2023 5,458 26,469 26,472 58,399
5 Debtors 2024 2023
£ £
Trade debtors and accrued income 7,287 55,120
Overdrawn director's current account 12,163 8,722
Other debtors and prepayments 5,611 5,044
25,061 68,886
6 Creditors: amounts falling due within one year 2024 2023
£ £
Coronavirus bounce back loan (part) 5,064 4,936
Hire purchase accounts (part) 13,407 15,634
Trade creditors 5,467 5,151
Corporation tax 9,402 13,658
PAYE and VAT accruals 7,429 17,978
Other creditors and accruals 2,052 2,004
42,821 59,361
7 Creditors: amounts falling due after one year 2024 2023
£ £
Coronavirus bounce back loan (part) 7,826 12,887
Hire purchase accounts (part) 24,362 15,325
32,188 28,212
8 Other information
Harbour Trees Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Lamorna
Onslow Road
Salcombe
Devon
TQ8 8AH
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