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Company No: 04674309 (England and Wales)

HARRIS MCMILLAN LIMITED

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

HARRIS MCMILLAN LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

HARRIS MCMILLAN LIMITED

BALANCE SHEET

As at 31 August 2024
HARRIS MCMILLAN LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 1,703 2,004
Tangible assets 4 33,659 38,123
35,362 40,127
Current assets
Debtors 5 26,492 30,914
Cash at bank and in hand 59,014 18,624
85,506 49,538
Creditors: amounts falling due within one year 6 ( 59,677) ( 41,479)
Net current assets 25,829 8,059
Total assets less current liabilities 61,191 48,186
Creditors: amounts falling due after more than one year 7 ( 6,697) ( 16,713)
Provision for liabilities ( 8,100) ( 9,200)
Net assets 46,394 22,273
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 46,294 22,173
Total shareholder's funds 46,394 22,273

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

Director's responsibilities:

The financial statements of Harris McMillan Limited (registered number: 04674309) were approved and authorised for issue by the Director on 01 May 2025. They were signed on its behalf by:

Mr L McAdam
Director
HARRIS MCMILLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
HARRIS MCMILLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

Harris McMillan 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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, 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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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:

Computer software 15 % reducing balance
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 and reducing balance basis over its expected useful life, as follows:

Vehicles 5 years straight line
Fixtures and fittings 15 % reducing balance
Office equipment 15 % 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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 5

3. Intangible assets

Computer software Total
£ £
Cost
At 01 September 2023 4,502 4,502
At 31 August 2024 4,502 4,502
Accumulated amortisation
At 01 September 2023 2,498 2,498
Charge for the financial year 301 301
At 31 August 2024 2,799 2,799
Net book value
At 31 August 2024 1,703 1,703
At 31 August 2023 2,004 2,004

4. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 September 2023 20,268 4,818 131,556 156,642
Additions 0 0 4,636 4,636
At 31 August 2024 20,268 4,818 136,192 161,278
Accumulated depreciation
At 01 September 2023 11,148 4,818 102,553 118,519
Charge for the financial year 4,054 0 5,046 9,100
At 31 August 2024 15,202 4,818 107,599 127,619
Net book value
At 31 August 2024 5,066 0 28,593 33,659
At 31 August 2023 9,120 0 29,003 38,123

5. Debtors

2024 2023
£ £
Trade debtors 7,251 6,713
Other debtors 19,241 24,201
26,492 30,914

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,014 9,550
Accruals 22,178 10,831
Taxation and social security 25,050 20,213
Other creditors 2,435 885
59,677 41,479

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

2024 2023
£ £
Bank loans 6,697 16,713

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
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100

The A ordinary and B ordinary shares rank pari passu in all respects except with regards to dividends. The director shall be entitled to declare dividends on each class of share as they at their discretion see fit.

9. Related party transactions

Transactions with the entity’s director (or members of its governing body)

Amounts owed to director

2024 2023
£ £
Advanced to director 46,565 38,635
Repayment from director (46,565) (38,635)
0 0

During the year £46,565 (2023: £38,635) was advanced to a director before being repaid. Interest was charged at 2.25% and the loan was repayable on demand.