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REGISTERED NUMBER: 03708019 (England and Wales)















HARVEY'S LEISURE (SOUTH WALES) LTD.

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024






HARVEY'S LEISURE (SOUTH WALES) LTD. (REGISTERED NUMBER: 03708019)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARVEY'S LEISURE (SOUTH WALES) LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: D R Barton





SECRETARY: L Titarelli





REGISTERED OFFICE: Unit 4
Ponthir Road
Caerleon
Gwent
NP18 3NY





REGISTERED NUMBER: 03708019 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

HARVEY'S LEISURE (SOUTH WALES) LTD. (REGISTERED NUMBER: 03708019)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,185 9,127
Investment property 5 518,136 363,205
529,321 372,332

CURRENT ASSETS
Stocks 14,000 -
Debtors 6 29,454 38,792
Cash at bank 5,335 373
48,789 39,165
CREDITORS
Amounts falling due within one year 7 80,675 70,552
NET CURRENT LIABILITIES (31,886 ) (31,387 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,435

340,945

CREDITORS
Amounts falling due after more than one
year

8

596,363

632,182
NET LIABILITIES (98,928 ) (291,237 )

HARVEY'S LEISURE (SOUTH WALES) LTD. (REGISTERED NUMBER: 03708019)

BALANCE SHEET - continued
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 200,100 200,100
Fair value reserve 10 88,335 (66,596 )
Retained earnings (387,363 ) (424,741 )
SHAREHOLDERS' FUNDS (98,928 ) (291,237 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th October 2024 and were signed by:





D R Barton - Director


HARVEY'S LEISURE (SOUTH WALES) LTD. (REGISTERED NUMBER: 03708019)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

Harvey's Leisure (South Wales) Ltd. is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


HARVEY'S LEISURE (SOUTH WALES) LTD. (REGISTERED NUMBER: 03708019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st February 2023 6,900 347,717 - 354,617
Additions - 1,500 3,050 4,550
At 31st January 2024 6,900 349,217 3,050 359,167
DEPRECIATION
At 1st February 2023 - 345,490 - 345,490
Charge for year - 2,238 254 2,492
At 31st January 2024 - 347,728 254 347,982
NET BOOK VALUE
At 31st January 2024 6,900 1,489 2,796 11,185
At 31st January 2023 6,900 2,227 - 9,127

HARVEY'S LEISURE (SOUTH WALES) LTD. (REGISTERED NUMBER: 03708019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st February 2023 363,205
Revaluations 154,931
At 31st January 2024 518,136
NET BOOK VALUE
At 31st January 2024 518,136
At 31st January 2023 363,205

Fair value at 31st January 2024 is represented by:
£   
Valuation in 2020 363,205
Valuation in 2024 154,931
518,136

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,256 1,145
Harvey's Wholesale - 36,896
Prepayments 11,198 751
29,454 38,792

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 20,084
Covid resilience loan 2,860 2,860
Trade creditors 55,714 19,223
Corporation Tax 1,818 4,841
VAT 16,313 20,014
Other creditors 970 1,415
Accruals and deferred income 3,000 2,115
80,675 70,552

HARVEY'S LEISURE (SOUTH WALES) LTD. (REGISTERED NUMBER: 03708019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Covid resilience loan - 1-2 yr 2,860 2,860
Covid resilience - 2-5 years 8,581 8,581
Covid loan more 5yrs instal 2,573 4,971
Other creditors 179,096 188,871
Directors' loan accounts 403,253 426,899
596,363 632,182

Amounts falling due in more than five years:

Repayable by instalments
Covid loan more 5yrs instal 2,573 4,971

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200,100 Ordinary £1 200,100 200,100

10. RESERVES
Fair
value
reserve
£   
At 1st February 2023 (66,596 )
Transfer to fair value reserve 154,931

At 31st January 2024 88,335

HARVEY'S LEISURE (SOUTH WALES) LTD. (REGISTERED NUMBER: 03708019)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

11. RELATED PARTY DISCLOSURES

At the end of the year, the company owed D R Barton £403,253 (2023 : £426,899).

At the end of the year, the company owed L Tritarelli, the company secretary, £171,697 (2023: £181,472).

D R Barton, shareholder and director, also controls Harvey's Wholesale Limited. The companies trade with each other on an arms length basis. The net amount due from this company at the year end was £Nil (2023 : £36,896).

D R Barton, shareholder and director, also controls Break 'N Dish (Newport) Ltd. The companies trade with each other on an arms length basis. The net amount due to this company at the year end was £Nil (2023 : £9,029).

12. GOING CONCERN

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.