Registered number
NI614429
Harvest Health Store Ltd
Filleted Accounts
30 September 2024
Harvest Health Store Ltd
Registered number: NI614429
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 9,128 9,235
Current assets
Stocks 25,360 22,300
Debtors 5 2,874 3,898
Cash at bank and in hand 107,516 123,832
135,750 150,030
Creditors: amounts falling due within one year 6 (97,084) (90,750)
Net current assets 38,666 59,280
Total assets less current liabilities 47,794 68,515
Creditors: amounts falling due after more than one year 7 (717) (567)
Provisions for liabilities (1,734) (1,755)
Net assets 45,343 66,193
Capital and reserves
Called up share capital 102 102
Profit and loss account 45,241 66,091
Shareholder's funds 45,343 66,193
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Miriam Morgan
Director
Approved by the board on 1 May 2025
Harvest Health Store Ltd
Notes to the Financial Statements
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 55,000
At 30 September 2024 55,000
Amortisation
At 1 October 2023 55,000
At 30 September 2024 55,000
Net book value
At 30 September 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 21,434
Additions 2,330
At 30 September 2024 23,764
Depreciation
At 1 October 2023 12,199
Charge for the year 2,437
At 30 September 2024 14,636
Net book value
At 30 September 2024 9,128
At 30 September 2023 9,235
5 Debtors 2024 2023
£ £
Other debtors 2,874 3,898
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 46,348 42,957
Other creditors 39,690 30,295
Taxation and social security costs 11,046 17,498
97,084 90,750
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 717 567
8 Events after the reporting date
There were no events since the balance sheet date which would necessitate a change in the above figures.
9 Capital commitments
The company did not have any capital commitments at 30 September 2024 not already provided for in the financial statements.
10 Contingent liabilities
There were no contingent liabilities at the year end.
11 Directors' advances, credits and guarantees
The company owes £717 (2023 £567) to the director at the year end. This has been shown in note 7.
12 Related party transactions
Related party transactions occurred between the company and its sole director.
All such transactions were in the normal course of business.
13 Controlling party
The ultimate controlling party has been identified as Mrs Miriam Morgan.
14 Other information
Harvest Health Store Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
6 Kingsway Arcade
Monaghan Street
Newry
Co Down
BT35 6BB
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