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REGISTERED NUMBER: 04665965 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

HARRIS INSTALLATION SERVICES LTD

HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARRIS INSTALLATION SERVICES LTD

Company Information
for the Year Ended 29 February 2024







DIRECTORS: P W Harris
Mrs S Harris



SECRETARY: Mrs S Harris



REGISTERED OFFICE: Unit 2
Birchmere Business Park
Nathan Way
Thamesmead
London
SE28 0AF



REGISTERED NUMBER: 04665965 (England and Wales)



ACCOUNTANTS: Jan Watkinson & Co.
14 Broadway
Rainham
Essex
RM13 9YW



BANKERS: Santander
PO Box 10102
21 Prescot Street
London
E1 8TN

HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 28
Tangible assets 5 461,576 439,123
461,576 439,151

CURRENT ASSETS
Stocks 24,760 26,746
Debtors 6 304,003 305,988
Cash at bank and in hand 74,630 40,737
403,393 373,471
CREDITORS
Amounts falling due within one year 7 337,871 324,910
NET CURRENT ASSETS 65,522 48,561
TOTAL ASSETS LESS CURRENT
LIABILITIES

527,098

487,712

CREDITORS
Amounts falling due after more than one
year

8

(198,658

)

(123,647

)

PROVISIONS FOR LIABILITIES 11 (67,078 ) (68,539 )
NET ASSETS 261,362 295,526

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 261,262 295,426
SHAREHOLDERS' FUNDS 261,362 295,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965)

Balance Sheet - continued
29 February 2024


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 and Retained Earnings Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





P W Harris - Director


HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

Harris Installation Services 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - in accordance with the property
Plant and machinery - 25% on reducing balance
Furniture and Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Work in progress un-billed at the year end has been taken to turnover, the amount due being included in trade debtors.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Retained Earnings Statement, 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.


HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company directly contributes to individual defined contribution personal pension schemes of employees. The assets of these schemes are held separately from those of the company in separately administered funds. Contributions payable for the year are charged in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 27 ) .

HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023 700
Disposals (700 )
At 29 February 2024 -
AMORTISATION
At 1 March 2023 672
Eliminated on disposal (672 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 28

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 16,812 1,155,859 1,172,671
Additions - 217,696 217,696
Disposals - (132,640 ) (132,640 )
At 29 February 2024 16,812 1,240,915 1,257,727
DEPRECIATION
At 1 March 2023 13,239 720,309 733,548
Charge for year 1,787 154,249 156,036
Eliminated on disposal - (93,433 ) (93,433 )
At 29 February 2024 15,026 781,125 796,151
NET BOOK VALUE
At 29 February 2024 1,786 459,790 461,576
At 28 February 2023 3,573 435,550 439,123

HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023 331,474
Additions 193,000
Transfer to ownership (103,782 )
At 29 February 2024 420,692
DEPRECIATION
At 1 March 2023 149,003
Charge for year 82,847
Transfer to ownership (59,697 )
At 29 February 2024 172,153
NET BOOK VALUE
At 29 February 2024 248,539
At 28 February 2023 182,471

6. DEBTORS
29.2.24 28.2.23
£    £   
Amounts falling due within one year:
Trade debtors 188,267 179,345
Other debtors 73,491 84,398
261,758 263,743

Amounts falling due after more than one year:
Other debtors 42,245 42,245

Aggregate amounts 304,003 305,988

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 91,920 66,813
Trade creditors 114,482 96,221
Taxation and social security 42,275 55,893
Other creditors 79,194 95,983
337,871 324,910

HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 15,833 25,833
Hire purchase contracts (see note 9) 182,825 97,814
198,658 123,647

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.2.24 28.2.23
£    £   
Gross obligations repayable:
Within one year 108,054 71,545
Between one and five years 199,609 103,242
307,663 174,787

Finance charges repayable:
Within one year 16,134 4,732
Between one and five years 16,784 5,428
32,918 10,160

Net obligations repayable:
Within one year 91,920 66,813
Between one and five years 182,825 97,814
274,745 164,627

Non-cancellable operating leases
29.2.24 28.2.23
£    £   
Within one year 253,000 278,000
Between one and five years 57,000 310,000
310,000 588,000

HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 274,745 164,627

The debts are secured on the specific vehicles/plant held under finance leases/HP agreements.

11. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax
Accelerated capital allowances 114,898 108,827
Tax losses carried forward (47,820 ) (40,288 )
67,078 68,539

Deferred
tax
£   
Balance at 1 March 2023 68,539
Provided during year 33,286
Utilised during year (34,747 )
Balance at 29 February 2024 67,078

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

13. CAPITAL COMMITMENTS
29.2.24 28.2.23
£    £   
Contracted but not provided for in the
financial statements 61,288 145,815

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 (2023 - £8,000) were paid to the director .

Amounts owed to directors at the end of the financial year included in creditors totalled £11,572 (2023:
£27,705).

15. ULTIMATE CONTROLLING PARTY

The controlling party is P W Harris.