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Harrisons Lettings & Management Ltd

Unaudited Abridged Financial Accounts

for the Year Ended 30 November 2024

Registration number: 11686808

 

Harrisons Lettings & Management Ltd

Contents

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Harrisons Lettings & Management Ltd

Company Information

Directors

C M M Hibbert

E M Hibbert

Registered office

Stanmore House
64-68 Blackburn Street
Radcliffe
Manchester
M26 2JS

Accountants

Gortons
Chartered AccountantsStanmore House
64-68 Blackburn Street
Radcliffe
Manchester
M26 2JS

 

Harrisons Lettings & Management Ltd

(Registration number: 11686808)
Abridged Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

152,325

179,100

Tangible assets

5

264,135

47,565

 

416,460

226,665

Current assets

 

Debtors

70,956

57,691

Cash at bank and in hand

 

165,689

159,123

 

236,645

216,814

Prepayments and accrued income

 

1,660

3,000

Creditors: Amounts falling due within one year

6.1

(178,721)

(166,122)

Net current assets

 

59,584

53,692

Total assets less current liabilities

 

476,044

280,357

Creditors: Amounts falling due after more than one year

6.2

(176,114)

(79,277)

Accruals and deferred income

 

(3,550)

(3,700)

Net assets

 

296,380

197,380

Capital and reserves

 

Called up share capital

8

100

1

Retained earnings

296,280

197,379

Shareholders' funds

 

296,380

197,380

For the financial year ending 30 November 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 7 April 2025, and confirmed on the Board's behalf by:
 

.........................................
C M M Hibbert
Director

 

Harrisons Lettings & Management Ltd

Notes to the Unaudited Abridged Financial Accounts for the
Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales and the company's registration number is 11686808.

The address of its registered office is Stanmore House, 64-68 Blackburn Street, Radcliffe, Manchester, M26 2JS.

These financial statements were authorised for issue by the Board on 7 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial accounts are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged 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 abridged financial accounts 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 represents the invoiced value of sales of services, net of value added tax.

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

Office equipment

33% Straight line method

Motor vehicles

20% Straight line method

Property

not depreciated

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line method

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Harrisons Lettings & Management Ltd

Notes to the Unaudited Abridged Financial Accounts for the
Year Ended 30 November 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 14).

4

Intangible assets

Total
£

Cost or valuation

At 1 December 2023

267,750

At 30 November 2024

267,750

Amortisation

At 1 December 2023

88,650

Amortisation charge

26,775

At 30 November 2024

115,425

Carrying amount

At 30 November 2024

152,325

At 30 November 2023

179,100

5

Tangible assets

Total
£

Cost or valuation

At 1 December 2023

68,033

Additions

231,724

At 30 November 2024

299,757

Depreciation

At 1 December 2023

20,468

Charge for the year

15,154

At 30 November 2024

35,622

Carrying amount

At 30 November 2024

264,135

At 30 November 2023

47,565

 

Harrisons Lettings & Management Ltd

Notes to the Unaudited Abridged Financial Accounts for the
Year Ended 30 November 2024

6

Creditors

Creditors: amounts falling due within one year

Creditors includes bank loans and other loans which are secured of £39,921 (2023 - £13,237).

Creditors: amounts falling due after more than one year

Creditors includes bank loans and other loans which are secured of £176,114 (2023 - £79,277).

7

Security

NatWest Bank PLC hold a debenture dated 14 October 2024 giving a fixed and floating charge over the property and fixtures, in support of the borrowings from it.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

1

1

       

On 20 February 2024 99 shares were allotted for a total consideration of £99.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £3,300 (2023 - £3,850).

Amounts disclosed in the balance sheet

Included in the balance sheet are employer pension contributions paid after date of £755 (2023 - £492).

10

Related party transactions

At the year end the directors owed the company £13,142 in respect of a joint loan held with the company (2023 - £52,031). This loan became overdrawn to a maximum of £80,489 in the year (2023 - £52,032). The company made total advances to the directors of £163,458, which included cash advances and private payments, and received credits of £202,347. Interest has been charged on this loan at a commercial rate and it is repayable on demand.
 

 

Harrisons Lettings & Management Ltd

Notes to the Unaudited Abridged Financial Accounts for the
Year Ended 30 November 2024

11

Transition to FRS 102

There have been no reclassifications or remeasurements of any of the figures at 30 November 2022 or 2023 and therefore the figures are as originally reported.