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REGISTERED NUMBER: SC218515 (Scotland)















Unaudited Financial Statements

for the Period 30 August 2022 to 27 August 2023

for

Harbour Havens Limited

Harbour Havens Limited (Registered number: SC218515)






Contents of the Financial Statements
for the Period 30 August 2022 to 27 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harbour Havens Limited

Company Information
for the Period 30 August 2022 to 27 August 2023







DIRECTORS: Mrs Anne Acuna
Mr Waldo R Acuna





SECRETARY: Mrs Anne Acuna





REGISTERED OFFICE: Kildonan Hotel
Kildonan
Isle of Arran
KA27 8SE





REGISTERED NUMBER: SC218515 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Harbour Havens Limited (Registered number: SC218515)

Balance Sheet
27 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 727,817 796,643

CURRENT ASSETS
Stock 33,050 32,475
Cash at bank and in hand 4,373 7,173
37,423 39,648
CREDITORS
Amounts falling due within one year 5 449,417 442,489
NET CURRENT LIABILITIES (411,994 ) (402,841 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

315,823

393,802

CREDITORS
Amounts falling due after more than one
year

6

(423,839

)

(442,561

)

PROVISIONS FOR LIABILITIES 8 (3,197 ) (3,699 )

ACCRUALS AND DEFERRED INCOME (77,363 ) (80,132 )
NET LIABILITIES (188,576 ) (132,590 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (188,578 ) (132,592 )
SHAREHOLDERS' FUNDS (188,576 ) (132,590 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 August 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 August 2023 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.

Harbour Havens Limited (Registered number: SC218515)

Balance Sheet - continued
27 August 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Mrs Anne Acuna - Director


Harbour Havens Limited (Registered number: SC218515)

Notes to the Financial Statements
for the Period 30 August 2022 to 27 August 2023

1. STATUTORY INFORMATION

Harbour Havens Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

The financial statements are prepared on the going concern basis of accounting which assumes the continuing support of the company's directors and bankers.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritable property - 2% on cost
Fittings and equipment - 10% on cost

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

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Harbour Havens Limited (Registered number: SC218515)

Notes to the Financial Statements - continued
for the Period 30 August 2022 to 27 August 2023

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 period 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.

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.

Government grants
Government grants received in respect of expenditure on fixed assets are credited to reserves and released to profit and loss account evenly over the expected useful lives of the assets concerned.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2022 - 6 ) .

Harbour Havens Limited (Registered number: SC218515)

Notes to the Financial Statements - continued
for the Period 30 August 2022 to 27 August 2023

4. TANGIBLE FIXED ASSETS
Fittings
Heritable and
property equipment Totals
£    £    £   
COST OR VALUATION
At 30 August 2022 1,139,566 330,971 1,470,537
Additions 62,895 2,226 65,121
Disposals (105,726 ) - (105,726 )
At 27 August 2023 1,096,735 333,197 1,429,932
DEPRECIATION
At 30 August 2022 363,429 310,465 673,894
Charge for period 23,164 5,057 28,221
At 27 August 2023 386,593 315,522 702,115
NET BOOK VALUE
At 27 August 2023 710,142 17,675 727,817
At 29 August 2022 776,137 20,506 796,643

The company's heritable property was valued at £600,000 on an open market basis by J & E Shepherd, Chartered Surveyors, on 20th November 2003. Additional works have been undertaken since that date and in the opinion of the directors the value of the heritable property is substantially in excess of the historical cost at which they are included in these financial statements.

Cost or valuation at 27 August 2023 is represented by:

Fittings
Heritable and
property equipment Totals
£    £    £   
Cost 1,096,735 333,197 1,429,932

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 42,807
Trade creditors 28,177 34,198
Taxation and social security 272,695 228,235
Other creditors 148,545 137,249
449,417 442,489

Harbour Havens Limited (Registered number: SC218515)

Notes to the Financial Statements - continued
for the Period 30 August 2022 to 27 August 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other creditors 423,839 442,561

Amounts falling due in more than five years:

Repayable by instalments
Other loans more than 5 years 30,570 69,969

The Directors loan account is interest free and should not fall below £60,000 for a period of 5 years under the terms of the government grant assistance provided towards the cost of the company's heritable property.

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 42,807
Other loans 202,430 232,965
202,430 275,772

Mortgage loans are secured by a standard security over the company's heritable property and by a bond and floating charge over the whole of the company's assets.

Bank overdrafts and loans are secured by a second bond and floating charge over the whole of the company's assets.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,197 3,699

Deferred
tax
£   
Balance at 30 August 2022 3,699
Credit to Statement of Income and Retained Earnings during period (502 )
Balance at 27 August 2023 3,197

Harbour Havens Limited (Registered number: SC218515)

Notes to the Financial Statements - continued
for the Period 30 August 2022 to 27 August 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

10. ULTIMATE CONTROLLING PARTY



The company was under the control of the two directors, Mrs A Acuna and Mr W R Acuna, who together own the entire issued share capital of the company.