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Registration number: 06574750

Harper Lifestyle Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Harper Lifestyle Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Harper Lifestyle Limited

Company Information

Director

Mr David Hart

Registered office

8 Barnfield
Feering
Colchester
Essex
CO5 9HP

Accountants

SJB & Co
8 Barnfield
Feering
Colchester
Essex
CO5 9HP

 

Harper Lifestyle Limited

(Registration number: 06574750)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,435

1,084

Current assets

 

Debtors

5

7,943

10,180

Cash at bank and in hand

 

4,262

23,695

 

12,205

33,875

Creditors: Amounts falling due within one year

6

(16,626)

(23,729)

Net current (liabilities)/assets

 

(4,421)

10,146

Net assets

 

25,014

11,230

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

24,914

11,130

Shareholders' funds

 

25,014

11,230

For the financial year ending 31 March 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 November 2024
 

.........................................
Mr David Hart
Director

 

Harper Lifestyle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
8 Barnfield
Feering
Colchester
Essex
CO5 9HP
United Kingdom

The principal place of business is:
9 Anchor Street
Chelmsford
Essex
CM2 0JY
United Kingdom

These financial statements were authorised for issue by the director on 16 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Harper Lifestyle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

33.33% straight line basis

Motor vehicles

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Harper Lifestyle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Harper Lifestyle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

-

14,754

14,754

Additions

35,866

300

36,166

At 31 March 2024

35,866

15,054

50,920

Depreciation

At 1 April 2023

-

13,670

13,670

Charge for the year

7,173

642

7,815

At 31 March 2024

7,173

14,312

21,485

Carrying amount

At 31 March 2024

28,693

742

29,435

At 31 March 2023

-

1,084

1,084

5

Debtors

Current

2024
£

2023
£

Trade debtors

7,943

10,180

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

9,130

19,983

Accruals and deferred income

2,099

1,999

Other creditors

5,397

1,747

16,626

23,729

7

Share capital

Allotted, called up and fully paid shares

 

Harper Lifestyle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £289.39 (2023 - £453.08) per ordinary share

 

28,940

 

45,308

         

9

Related party transactions

 

Harper Lifestyle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

17,654

16,689

Dividends paid to the director

   

2024
£

 

2023
£

Mr David Hart

       

Dividends to ordinary shareholders were £453.08 per share.

 

28,940

 

45,308