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REGISTERED NUMBER: 11945863 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 March 2024

for

Asset Harbour Mortgages & Protection Ltd

Asset Harbour Mortgages & Protection Ltd (Registered number: 11945863)

Contents of the Financial Statements
For The Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Asset Harbour Mortgages & Protection Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Mr A. E. Barnes
Mr G. J. Collin





REGISTERED OFFICE: 54a Church Road
Ashford
Middlesex
TW15 2TS





REGISTERED NUMBER: 11945863 (England and Wales)





ACCOUNTANTS: Ashwells Associates Limited
Chartered Certified Accountants
54a Church Road
Ashford
Middlesex
TW15 2TS

Asset Harbour Mortgages & Protection Ltd (Registered number: 11945863)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,115 37,059

CURRENT ASSETS
Debtors 5 76,717 34,252
Cash at bank 265,998 315,080
342,715 349,332
CREDITORS
Amounts falling due within one year 6 50,030 77,289
NET CURRENT ASSETS 292,685 272,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

325,800

309,102

CREDITORS
Amounts falling due after more than one
year

7

(39,297

)

(54,960

)

PROVISIONS FOR LIABILITIES 8 (242,752 ) (180,479 )
NET ASSETS 43,751 73,663

CAPITAL AND RESERVES
Called up share capital 124 124
Retained earnings 43,627 73,539
SHAREHOLDERS' FUNDS 43,751 73,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Asset Harbour Mortgages & Protection Ltd (Registered number: 11945863)

Statement of Financial Position - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:





Mr G. J. Collin - Director


Asset Harbour Mortgages & Protection Ltd (Registered number: 11945863)

Notes to the Financial Statements
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Asset Harbour Mortgages & Protection 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
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.

Asset Harbour Mortgages & Protection Ltd (Registered number: 11945863)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Provision for liabilities
The company maintains a provision for fee clawback at 8% on the fee receivable in order to meet the contingent future claims. The clawback provision is released back to fee receivable over following 10 years on straight line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 2,977 48,490 978 52,445
Additions - - 6,399 6,399
At 31 March 2024 2,977 48,490 7,377 58,844
DEPRECIATION
At 1 April 2023 1,503 13,638 245 15,386
Charge for year 487 8,713 1,143 10,343
At 31 March 2024 1,990 22,351 1,388 25,729
NET BOOK VALUE
At 31 March 2024 987 26,139 5,989 33,115
At 31 March 2023 1,474 34,852 733 37,059

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 521 5,593
Amounts owed by group undertakings 41,292 18,590
Other debtors 34,904 10,069
76,717 34,252

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 10,160 9,911
Hire purchase contracts 5,373 5,373
Trade creditors 709 6,246
Taxation and social security 4,530 11,422
Other creditors 29,258 44,337
50,030 77,289

Asset Harbour Mortgages & Protection Ltd (Registered number: 11945863)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 13,951 24,111
Hire purchase contracts 25,346 30,849
39,297 54,960

8. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£    £   
Deferred tax 7,805 8,761
Other provisions 234,947 171,718
242,752 180,479

Deferred Other
tax provisions
£    £   
Balance at 1 April 2023
As previously reported 8,761 171,376
Prior year adjustment - 342
As restated 8,761 171,718
Provided during year (956 ) 63,229
Balance at 31 March 2024 7,805 234,947

9. RELATED PARTY DISCLOSURES

Included in the debtors is a sum of £41,292 (2023 - £18,589) owed from other companies which are directly under the control of the director.

During the year, a consultancy fee of 36,000 (2023 - £36,000) paid to another company which is under common control of the director.

Included in the creditors is a sum of £17,825 (2023 - £8,402) owed to the director of the company.