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Company No: 08420448 (England and Wales)

HARVARD WINDOW CLEANING FRANCHISING LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

HARVARD WINDOW CLEANING FRANCHISING LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

HARVARD WINDOW CLEANING FRANCHISING LIMITED

BALANCE SHEET

As at 31 May 2024
HARVARD WINDOW CLEANING FRANCHISING LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 2,158 2,158
Tangible assets 4 16,875 22,500
19,033 24,658
Current assets
Debtors 5 15,596 123,138
Cash at bank and in hand 477 2,485
16,073 125,623
Creditors: amounts falling due within one year 6 ( 61,942) ( 66,465)
Net current (liabilities)/assets (45,869) 59,158
Total assets less current liabilities (26,836) 83,816
Creditors: amounts falling due after more than one year 7 ( 9,873) ( 27,742)
Net (liabilities)/assets ( 36,709) 56,074
Capital and reserves
Called-up share capital 8 1 1
Profit and loss account ( 36,710 ) 56,073
Total shareholder's (deficit)/funds ( 36,709) 56,074

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

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Harvard Window Cleaning Franchising Limited (registered number: 08420448) were approved and authorised for issue by the Director on 09 April 2025. They were signed on its behalf by:

R Sharma-Sly
Director
HARVARD WINDOW CLEANING FRANCHISING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
HARVARD WINDOW CLEANING FRANCHISING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Harvard Window Cleaning Franchising Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Development costs Total
£ £
Cost
At 01 June 2023 2,158 2,158
At 31 May 2024 2,158 2,158
Accumulated amortisation
At 01 June 2023 0 0
At 31 May 2024 0 0
Net book value
At 31 May 2024 2,158 2,158
At 31 May 2023 2,158 2,158

4. Tangible assets

Vehicles Total
£ £
Cost
At 01 June 2023 40,000 40,000
At 31 May 2024 40,000 40,000
Accumulated depreciation
At 01 June 2023 17,500 17,500
Charge for the financial year 5,625 5,625
At 31 May 2024 23,125 23,125
Net book value
At 31 May 2024 16,875 16,875
At 31 May 2023 22,500 22,500

5. Debtors

2024 2023
£ £
Amounts owed by related parties 0 107,542
Other debtors 15,596 15,596
15,596 123,138

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,128 10,255
Taxation and social security 36,891 36,637
Obligations under finance leases and hire purchase contracts 8,000 12,000
Other creditors 6,923 7,573
61,942 66,465

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

2024 2023
£ £
Bank loans 9,873 19,742
Obligations under finance leases and hire purchase contracts 0 8,000
9,873 27,742

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1