Harbwr Cohousing Limited Filleted Accounts Cover
Harbwr Cohousing Limited
Company No. 13224822
Information for Filing with The Registrar
29 February 2024
Harbwr Cohousing Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 29 February 2024.
Principal activities
The principal activity of the company during the year under review was housing provision.
Directors
The Directors who served at any time during the year were as follows:
O.H. Craigan
A.M.O. Davies
(Resigned 31 October 2023)
S.C.P. Davies
(Resigned 9 September 2024)
R.E. Essex
M.S. Jones
C.M.H. Kearns
P.A. Lewis
C. Mundy
G.I. Norman
E.M. Simon
G.M. Wood
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
C. Mundy
Director
29 November 2024
Harbwr Cohousing Limited Balance Sheet Registrar
at
29 February 2024
Company No.
13224822
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
1,664,8561,658,267
1,664,8561,658,267
Current assets
Cash at bank and in hand
85,75060,821
85,75060,821
Creditors: Amount falling due within one year
5
(119,274)
(8,476)
Net current (liabilities)/assets
(33,524)
52,345
Total assets less current liabilities
1,631,3321,710,612
Creditors: Amounts falling due after more than one year
6
(1,674,360)
(1,746,360)
Net liabilities
(43,028)
(35,748)
Reserves
Income and expenditure account
(43,028)
(35,748)
Total equity
(43,028)
(35,748)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's income and expenditure account.
Approved by the board on 29 November 2024 and signed on its behalf by:
C. Mundy
Director
29 November 2024
Harbwr Cohousing Limited Notes to the Accounts Registrar
for the year ended 29 February 2024
1
General information
Harbwr Cohousing Limited is a private company limited by guarantee and incorporated in England and Wales.
Its registered number is: 13224822
Its registered office is:
Penrallt Ddu
Penybryn
Cardigan
SA43 3NN
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Freehold buildings
2% Cost less residual value, straight line basis
Furniture, fittings and equipment
20% Straight line basis
It is the directors opinion that the residual value of all originally purchased buildings is the same or higher than cost. Additions are to be fully depreciated over time at the above stated rate.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the income and expenditure account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Tangible fixed assets
Land and buildings
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 March 2023
1,658,8111201,658,931
Additions
7,229-7,229
At 29 February 2024
1,666,0401201,666,160
Depreciation
At 1 March 2023
61648664
Charge for the year
61624640
At 29 February 2024
1,232721,304
Net book values
At 29 February 2024
1,664,808481,664,856
At 28 February 2023
1,658,195721,658,267
5
Creditors:
amounts falling due within one year
2024
2023
£
£
Other loans
96,000-
Other creditors
-600
Accruals and deferred income
23,2747,876
119,2748,476
Other loans represents amounts agreed to be repaid within one year of the balance sheet date from amounts previously recognised as due in more than one year (see Note 6).
6
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Other loans
1,674,3601,746,360
1,674,3601,746,360
Liabilities repayable in more than five years after the balance sheet date
Other loans includes amounts totalling £1,152,320 (2023: £1,236,360) loaned under an 'equity agreement' whereby members of the company provide interest-free amounts during their membership. Should a member wish to leave then their loan will be returned following a replacement member being found or within 2 years of the notified leaving date, under normal circumstances. Any amounts known to be paid/payable within one year have been analysed as such. No conditions have arisen to indicate any other repayments due within one year. Other loans also includes amounts totalling £390,000 (2023: £510,000) loaned until 12th July 2025 at a simple interest rate of 6% (1.93% AER), £95,000 loaned until 31st July 2025 at a simple interest rate of 4% (1.93% AER), and £37,040 loaned at a rate of 3.5% pa until 30th September 2026. Early repayment is at the discretion of the company.
7
Reserves
Income and expenditure account - includes all current and prior period retained surpluses and deficits.
8
Contingent Assets/Liabilities
Under the terms of the member 'equity agreements' amounts invested in the part of the premises they occupy are potentially repayable to them if they end their membership. The amount of liability is contingent on agreement at a general meeting of the members and provision of evidence of costs and completion of work. The contingent liability is also subject to reduction if the value of the premises is impacted by a lack of care being taken over maintenance. At the balance sheet date the members recognised £58,387 of works carried out that could represent a future liability. No circumstances had arisen to indicate a date at which a decision would have to be made over any reduction to this liability or repayment of it.
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