0 31/05/2024 2024-05-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-06-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03737130 2023-06-01 2024-05-31 03737130 2024-05-31 03737130 2023-05-31 03737130 2022-06-01 2023-05-31 03737130 2023-05-31 03737130 2022-05-31 03737130 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 03737130 core:OnerousContractsExcludingVacantProperties 2023-06-01 2024-05-31 03737130 bus:Director1 2023-06-01 2024-05-31 03737130 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 03737130 core:FurnitureFittingsToolsEquipment 2023-05-31 03737130 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 03737130 core:FurnitureFittingsToolsEquipment 2024-05-31 03737130 core:WithinOneYear 2024-05-31 03737130 core:WithinOneYear 2023-05-31 03737130 core:ShareCapital 2024-05-31 03737130 core:ShareCapital 2023-05-31 03737130 core:RetainedEarningsAccumulatedLosses 2024-05-31 03737130 core:RetainedEarningsAccumulatedLosses 2023-05-31 03737130 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 03737130 core:FurnitureFittingsToolsEquipment 2023-05-31 03737130 bus:Director1 2023-05-31 03737130 bus:Director1 2024-05-31 03737130 bus:Director1 2022-05-31 03737130 bus:Director1 2023-05-31 03737130 bus:Director1 2022-06-01 2023-05-31 03737130 bus:SmallEntities 2023-06-01 2024-05-31 03737130 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 03737130 bus:FullAccounts 2023-06-01 2024-05-31 03737130 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 03737130 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03737130 core:ComputerEquipment 2023-06-01 2024-05-31 03737130 core:ComputerEquipment 2023-05-31 03737130 core:ComputerEquipment 2024-05-31 03737130 1 2023-06-01 2024-05-31
Company registration number: 03737130
KEITH HARRIS & ASSOCIATES LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
YEAR ENDED
31 May 2024
KEITH HARRIS & ASSOCIATES LIMITED
STATEMENT OF FINANCIAL POSITION
31 MAY 2024
31/05/24 31/05/23
Note £ £ £ £
Fixed assets
Tangible assets 5 38,048 42,101
_______ _______
38,048 42,101
Current assets
Debtors 6 562,397 562,054
Investments 7 - 5,760
Cash at bank and in hand 16,683 20,905
_______ _______
579,080 588,719
Creditors: amounts falling due
within one year 8 ( 19,217) ( 27,599)
_______ _______
Net current assets 559,863 561,120
_______ _______
Total assets less current liabilities 597,911 603,221
_______ _______
Net assets 597,911 603,221
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 597,909 603,219
_______ _______
Shareholders funds 597,911 603,221
_______ _______
For the year ending 31 May 2024 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 October 2024 , and are signed on behalf of the board by:
Dr K R Harris
Director
Company registration number: 03737130
KEITH HARRIS & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Keith Harris & Associates Limited, c/o Christopher Young Limited, 1A The Martlets, Burgess Hill, West Sussex, RH15 1NN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
IT equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 2 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Computer equipment Total
£ £ £ £
Cost
At 1 June 2023 25,060 61,495 46,108 132,663
Additions - - 1,689 1,689
_______ _______ _______ _______
At 31 May 2024 25,060 61,495 47,797 134,352
_______ _______ _______ _______
Depreciation
At 1 June 2023 - 59,135 31,427 90,562
Charge for the year - 729 5,013 5,742
_______ _______ _______ _______
At 31 May 2024 - 59,864 36,440 96,304
_______ _______ _______ _______
Carrying amount
At 31 May 2024 25,060 1,631 11,357 38,048
_______ _______ _______ _______
At 31 May 2023 25,060 2,360 14,681 42,101
_______ _______ _______ _______
6. Debtors
31/05/24 31/05/23
£ £
Other debtors 562,397 562,054
_______ _______
7. Investments
31/05/24 31/05/23
£ £
Other investments - 5,760
_______ _______
8. Creditors: amounts falling due within one year
31/05/24 31/05/23
£ £
Corporation tax 634 31
Social security and other taxes 1,397 1,307
Other creditors 17,186 26,261
_______ _______
19,217 27,599
_______ _______
- Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Year ended 31/05/24
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Dr K R Harris 449,892 - 449,892
_______ _______ _______
period ended 31/05/23
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Dr K R Harris 449,944 ( 52) 449,892
_______ _______ _______
10. Controlling party
The company is under the control of Dr. Keith Harris .