Harkster Limited |
Notes to the Accounts |
for the period from 14 February 2023 to 29 February 2024 |
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1 |
Accounting policies |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
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Debtors and creditors receivable/payable within one year |
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Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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2 |
Employees |
2024 |
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Number |
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Average number of persons employed by the company |
2 |
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3 |
Debtors |
2024 |
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£ |
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Deferred tax asset |
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41,175 |
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Other debtors |
23,806 |
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64,981 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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£ |
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Trade creditors |
4,480 |
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Other creditors |
2,591 |
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7,071 |
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5 |
Loans to directors |
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Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
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Director |
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Interest free loan, repayable on demand |
- |
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19 |
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(1,602) |
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(1,583) |
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- |
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19 |
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(1,602) |
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(1,583) |
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6 |
Going Concern |
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The accounts have been prepared under the going concern basis, however the company is reliant on continued external investment. |
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7 |
Other information |
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Harkster Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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5 Providence Court |
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Pynes Hill |
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Exeter |
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Devon |
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EX2 5JL |