HARKNESS SCREENS (UK) LIMITED

Company Registration Number:
02576490 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2022

Period of accounts

Start date: 01 October 2021

End date: 30 September 2022

HARKNESS SCREENS (UK) LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2022

Balance sheet
Notes

HARKNESS SCREENS (UK) LIMITED

Balance sheet

As at 30 September 2022


Notes

2022

2021


£

£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 158,425 170,194
Investments: 4 1 1
Total fixed assets: 158,426 170,195
Current assets
Stocks: 49,650 159,982
Debtors: 5 686,260 5,344,788
Cash at bank and in hand: 164,547 142,925
Total current assets: 900,457 5,647,695
Creditors: amounts falling due within one year: 6 (2,024,222) (1,544,319)
Net current assets (liabilities): (1,123,765) 4,103,376
Total assets less current liabilities: (965,339) 4,273,571
Creditors: amounts falling due after more than one year: 7 0 (39,604)
Provision for liabilities: (20,262) (30,506)
Total net assets (liabilities): (985,601) 4,203,461
Capital and reserves
Called up share capital: 352,941 352,941
Other reserves: 540,000 540,000
Profit and loss account: (1,878,542) 3,310,520
Shareholders funds: (985,601) 4,203,461

The notes form part of these financial statements

HARKNESS SCREENS (UK) LIMITED

Balance sheet statements

For the year ending 30 September 2022 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 November 2024
and signed on behalf of the board by:

Name: Patrick Carolan
Status: Director

The notes form part of these financial statements

HARKNESS SCREENS (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

HARKNESS SCREENS (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

2. Employees

2022 2021
Average number of employees during the period 13 16

HARKNESS SCREENS (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

3. Tangible Assets

Total
Cost £
At 01 October 2021 1,135,473
Additions 45,635
At 30 September 2022 1,181,108
Depreciation
At 01 October 2021 965,279
Charge for year 57,404
At 30 September 2022 1,022,683
Net book value
At 30 September 2022 158,425
At 30 September 2021 170,194

HARKNESS SCREENS (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

4. Fixed investments

Fixed asset investments The company holds 100% of the ordinary shares of Harkness Screens (USA) Limited, a company incorporated in the United Kingdom. The principal activity of the company is the manufacture and sale of projection screens. The company owns 90% of the ordinary shares of SCI Du Clos dArquemont, a company incorporated in France. The principal activity of the company is the holding of French property. The company owns 0.01% of the ordinary shares of Harkness Screens India LLP, a limited liability partnership incorporated in India. The principal activity of the limited liability partnership is the manufacture and sale of projection screens. Unlisted investments £ Cost or valuation At 1 October 2021 1 At 30 September 2022 1

HARKNESS SCREENS (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

5. Debtors

2022 2021
££
Debtors due after more than one year: 0 0

HARKNESS SCREENS (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

6. Creditors: amounts falling due within one year note

Creditors: Amounts falling due within one year 2022 2021 £ £ Trade creditors 104,048 147,692 Amounts owed to group undertakings 1,625,603 1,046,140 Corporation tax - 121,260 Other taxation and social security - 23,612 Other creditors 48,948 11,051 Accruals and deferred income 245,623 194,564 2,024,222 1,544,319 Amounts due to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

HARKNESS SCREENS (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

7. Creditors: amounts falling due after more than one year note

Creditors: Amounts falling due after more than one year 2022 2021 £ £ Bank loans - 39,604 - 39,604

HARKNESS SCREENS (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

8. Related party transactions

Related party transactions Harkness Screens (UK) Limited is wholly owned within the Harkness Screens (Group) Limited group. Transactions with Harkness Screens (Group) Limited and with other wholly owned subsidiary companies of Harkness Screens (Group) Limited are not disclosed as the company has taken advantage of the exemption available under FRS 102 from disclosing such transactions.

HARKNESS SCREENS (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2022

9. Post balance sheet events

Post balance sheet events As detailed in the going concern note above, the Company is dependent on the financial support from its ultimate parent, Harkness Screens Group Limited, in respect of its ability to continue as a going concern. The directors of Harkness Screens Group Limited, having assessed the Group’s financial forecasts, have determined restructuring of the Group’s financial liabilities and operating overheads, and raising new equity capital is required to ensure future financial viability. Subsequent to the balance sheet date, the directors of Harkness Screens Group Limited are negotiating the restructure of its primary external debt. The ultimate Parent Company has also received a commitment from certain shareholders in respect of new equity investment.