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Company No: 11343274 (England and Wales)

HARVARD LTD

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

HARVARD LTD

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

HARVARD LTD

BALANCE SHEET

As at 31 May 2024
HARVARD LTD

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 122,326 144,567
Tangible assets 4 65,062 23,569
187,388 168,136
Current assets
Debtors 5 77,485 74,563
Cash at bank and in hand 35,833 35,643
113,318 110,206
Creditors: amounts falling due within one year 6 ( 143,684) ( 280,193)
Net current liabilities (30,366) (169,987)
Total assets less current liabilities 157,022 (1,851)
Creditors: amounts falling due after more than one year 7 ( 9,492) ( 19,874)
Net assets/(liabilities) 147,530 ( 21,725)
Capital and reserves
Called-up share capital 8 1 1
Revaluation reserve 44,144 0
Profit and loss account 103,385 ( 21,726 )
Total shareholder's funds/(deficit) 147,530 ( 21,725)

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 Ltd (registered number: 11343274) were approved and authorised for issue by the Director on 04 September 2025. They were signed on its behalf by:

L Rayner
Director
HARVARD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
HARVARD LTD

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 Ltd (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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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:

Goodwill 10 years straight line
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:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 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.

Vehicles are held at fair value at the date of valuation less subsequent depreciation and impairment.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a gain reverses a previously recognised loss, or a loss exceeds the accumulated gains in equity.

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 Profit and Loss Account 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 3 4

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 June 2023 222,407 222,407
At 31 May 2024 222,407 222,407
Accumulated amortisation
At 01 June 2023 77,840 77,840
Charge for the financial year 22,241 22,241
At 31 May 2024 100,081 100,081
Net book value
At 31 May 2024 122,326 122,326
At 31 May 2023 144,567 144,567

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost/Valuation
At 01 June 2023 0 70,438 1,316 837 72,591
Additions 3,162 0 0 350 3,512
Revaluations 0 44,144 0 0 44,144
At 31 May 2024 3,162 114,582 1,316 1,187 120,247
Accumulated depreciation
At 01 June 2023 0 48,151 267 604 49,022
Charge for the financial year 316 5,572 158 117 6,163
At 31 May 2024 316 53,723 425 721 55,185
Net book value
At 31 May 2024 2,846 60,859 891 466 65,062
At 31 May 2023 0 22,287 1,049 233 23,569

5. Debtors

2024 2023
£ £
Trade debtors 76,334 53,779
Other debtors 1,151 20,784
77,485 74,563

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,382 10,126
Trade creditors 17,552 7,378
Taxation and social security 44,704 44,221
Other creditors 71,046 218,468
143,684 280,193

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

2024 2023
£ £
Bank loans 9,492 19,874

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
100 Ordinary shares of £ 0.01 each 1 1