Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Andrew Mackenzie 26/01/1999 31 October 2024 The principal activity of the Company is that of consultancy. SC192833 2024-01-31 SC192833 bus:Director1 2024-01-31 SC192833 2023-01-31 SC192833 core:CurrentFinancialInstruments 2024-01-31 SC192833 core:CurrentFinancialInstruments 2023-01-31 SC192833 core:ShareCapital 2024-01-31 SC192833 core:ShareCapital 2023-01-31 SC192833 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC192833 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC192833 core:PlantMachinery 2023-01-31 SC192833 core:Vehicles 2023-01-31 SC192833 core:ComputerEquipment 2023-01-31 SC192833 core:PlantMachinery 2024-01-31 SC192833 core:Vehicles 2024-01-31 SC192833 core:ComputerEquipment 2024-01-31 SC192833 bus:OrdinaryShareClass1 2024-01-31 SC192833 2023-02-01 2024-01-31 SC192833 bus:FilletedAccounts 2023-02-01 2024-01-31 SC192833 bus:SmallEntities 2023-02-01 2024-01-31 SC192833 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC192833 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC192833 bus:Director1 2023-02-01 2024-01-31 SC192833 core:PlantMachinery core:TopRangeValue 2023-02-01 2024-01-31 SC192833 core:Vehicles core:TopRangeValue 2023-02-01 2024-01-31 SC192833 core:ComputerEquipment core:TopRangeValue 2023-02-01 2024-01-31 SC192833 2022-02-01 2023-01-31 SC192833 core:PlantMachinery 2023-02-01 2024-01-31 SC192833 core:Vehicles 2023-02-01 2024-01-31 SC192833 core:ComputerEquipment 2023-02-01 2024-01-31 SC192833 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC192833 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC192833 (Scotland)

HARELAW LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

HARELAW LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024

Contents

HARELAW LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2024
HARELAW LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,890 2,121
1,890 2,121
Current assets
Debtors 4 27,255 88,340
Cash at bank and in hand 330,579 201,598
357,834 289,938
Creditors: amounts falling due within one year 5 ( 122,189) ( 63,013)
Net current assets 235,645 226,925
Total assets less current liabilities 237,535 229,046
Provision for liabilities ( 359) ( 403)
Net assets 237,176 228,643
Capital and reserves
Called-up share capital 6 3 3
Profit and loss account 237,173 228,640
Total shareholders' funds 237,176 228,643

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Harelaw Limited (registered number: SC192833) were approved and authorised for issue by the Director on 31 October 2024. They were signed on its behalf by:

Andrew Mackenzie
Director
HARELAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
HARELAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Harelaw Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Culcreuch, Hilton Farm, Tain, IV19 1LZ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income and expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences. Deferred tax is charged or credited in the profit and loss account.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 4 years straight line
Computer equipment 3.33 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each reporting period end date, the company reviews the carrying amount of its tangible assets to determine whether there is a indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 February 2023 4,500 9,000 2,794 16,294
Additions 0 0 1,208 1,208
Disposals 0 0 ( 408) ( 408)
At 31 January 2024 4,500 9,000 3,594 17,094
Accumulated depreciation
At 01 February 2023 3,166 9,000 2,007 14,173
Charge for the financial year 800 0 634 1,434
Disposals 0 0 ( 403) ( 403)
At 31 January 2024 3,966 9,000 2,238 15,204
Net book value
At 31 January 2024 534 0 1,356 1,890
At 31 January 2023 1,334 0 787 2,121

4. Debtors

2024 2023
£ £
Trade debtors 7,255 9,755
Other debtors 20,000 78,585
27,255 88,340

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 2,329 3,627
Other creditors 119,860 59,386
122,189 63,013

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3 Ordinary shares of £ 1.00 each 3 3

7. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts due from other related parties 20,000 80,000
Amounts due to key management personnel 41,899 57,145