Haarp Motors Ltd 14675083 false 2023-02-19 2024-02-28 2024-02-28 The principal activity of the company is of the sale of used cars and light motor vehicles. Digita Accounts Production Advanced 6.30.9574.0 true 14675083 2023-02-19 2024-02-28 14675083 2024-02-28 14675083 core:RetainedEarningsAccumulatedLosses 2024-02-28 14675083 core:ShareCapital 2024-02-28 14675083 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 14675083 1 2024-02-28 14675083 bus:SmallEntities 2023-02-19 2024-02-28 14675083 bus:AuditExemptWithAccountantsReport 2023-02-19 2024-02-28 14675083 bus:FullAccounts 2023-02-19 2024-02-28 14675083 bus:SmallCompaniesRegimeForAccounts 2023-02-19 2024-02-28 14675083 bus:RegisteredOffice 2023-02-19 2024-02-28 14675083 bus:Director1 2023-02-19 2024-02-28 14675083 bus:PrivateLimitedCompanyLtd 2023-02-19 2024-02-28 14675083 countries:EnglandWales 2023-02-19 2024-02-28 14675083 1 2023-02-19 2024-02-28 14675083 1 2023-02-18 iso4217:GBP xbrli:pure

Registration number: 14675083

Haarp Motors Ltd

Filleted Unaudited Financial Statements

for the Period from 19 February 2023 to 28 February 2024

 

Haarp Motors Ltd
(Registration number: 14675083)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Haarp Motors Ltd
(Registration number: 14675083)

Company Information

Director

P Kaur

Registered office

5 Maryfield Avenue
Exeter
Devon
EX4 6JN

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Haarp Motors Ltd
(Registration number: 14675083)

Balance Sheet as at 28 February 2024

Note

2024
£

Current assets

 

Stocks

4

4,500

Cash at bank and in hand

 

217

 

4,717

Creditors: Amounts falling due within one year

5

(3,077)

Net assets

 

1,640

Capital and reserves

 

Called up share capital

1

Profit and loss account

1,639

Total equity

 

1,640

For the financial period ending 28 February 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 period in question in accordance with section 476; and

The director acknowledges her 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 19 November 2024
 

.........................................
P Kaur
Director

 

Haarp Motors Ltd
(Registration number: 14675083)

Notes to the Unaudited Financial Statements for the Period from 19 February 2023 to 28 February 2024

1

General information

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

The address of its registered office is:
5 Maryfield Avenue
Exeter
Devon
EX4 6JN
United Kingdom

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 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.

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.

 

Haarp Motors Ltd
(Registration number: 14675083)

Notes to the Unaudited Financial Statements for the Period from 19 February 2023 to 28 February 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

3

Staff numbers

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

4

Stocks

2024
£

Other stocks

4,500

 

Haarp Motors Ltd
(Registration number: 14675083)

Notes to the Unaudited Financial Statements for the Period from 19 February 2023 to 28 February 2024

5

Creditors

2024
£

Due within one year

Taxation and social security

384

Other creditors

1,943

Accrued expenses

750

3,077

6

Related party transactions

Transactions with the director

2024

At 19 February 2023
£

Advances to director
£

Repayments by director
£

At 28 February 2024
£

Interest free loan repayable on demand

-

4,250

(4,250)

-