2 2 Harvco Limited 05757439 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property management. Digita Accounts Production Advanced 6.30.9574.0 true 05757439 2023-04-01 2024-03-31 05757439 2024-03-31 05757439 bus:OrdinaryShareClass1 2024-03-31 05757439 core:CurrentFinancialInstruments 2024-03-31 05757439 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05757439 core:FurnitureFittingsToolsEquipment 2024-03-31 05757439 bus:SmallEntities 2023-04-01 2024-03-31 05757439 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05757439 bus:FilletedAccounts 2023-04-01 2024-03-31 05757439 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05757439 bus:RegisteredOffice 2023-04-01 2024-03-31 05757439 bus:Director3 2023-04-01 2024-03-31 05757439 bus:Director4 2023-04-01 2024-03-31 05757439 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05757439 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05757439 bus:Agent1 2023-04-01 2024-03-31 05757439 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05757439 countries:EnglandWales 2023-04-01 2024-03-31 05757439 2023-03-31 05757439 core:FurnitureFittingsToolsEquipment 2023-03-31 05757439 2022-04-01 2023-03-31 05757439 2023-03-31 05757439 bus:OrdinaryShareClass1 2023-03-31 05757439 core:CurrentFinancialInstruments 2023-03-31 05757439 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 05757439

Harvco Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Harvco Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Harvco Limited

Company Information

Directors

M Katz

Emma Katz

Registered office

C/O Sterlings Ltd
Lawford House
Albert Place
London
N3 1QA

Accountants

Sterlings Ltd
Chartered AccountantsLawford House
Albert Place
London
N3 1QA

 

Harvco Limited

(Registration number: 05757439)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

823,563

881,960

Debtors

6

223,308

172,548

Cash at bank and in hand

 

143,477

190,108

 

1,190,348

1,244,616

Creditors: Amounts falling due within one year

7

(295,314)

(316,879)

Net assets

 

895,034

927,737

Capital and reserves

 

Called up share capital

8

1

1

Profit and loss account

895,033

927,736

Shareholders' funds

 

895,034

927,737

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 February 2025 and signed on its behalf by:
 

.........................................
M Katz
Director

 

Harvco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
C/O Sterlings Ltd
Lawford House
Albert Place
London
N3 1QA
England

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.

 

Harvco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

over 3 years

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

 

Harvco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Harvco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

1,985

1,985

At 31 March 2024

1,985

1,985

Depreciation

At 1 April 2023

1,985

1,985

At 31 March 2024

1,985

1,985

Carrying amount

At 31 March 2024

-

-

5

Stocks

2024
£

2023
£

Other inventories

823,563

881,960

6

Debtors

Current

2024
£

2023
£

Other debtors

223,308

172,548

 

223,308

172,548

7

Creditors

Creditors: amounts falling due within one year

 

Harvco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

206,180

206,180

Taxation and social security

 

8,971

24,034

Accruals and deferred income

 

2,940

2,940

Other creditors

 

77,223

83,725

 

295,314

316,879

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

206,180

206,180

10

Related party transactions

Mesh Properties Ltd
(related by family connections)
During the year, the company received services of £121,000 (2023 - £132,000) from Mesh Properties Ltd. At balance sheet date, £213,564 (2023 - £155,667) was due from Mesh Properties Ltd.

Fernview Estates Limited
(related by family connections)
At balance sheet date, £34,378 (2023 - £34,378) was due to Fernview Limited.