Company registration number 14164783 (England and Wales)
HARRY FAMILY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
HARRY FAMILY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HARRY FAMILY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
31 March 2024
30 June 2023
Notes
£
£
FIXED ASSETS
Investments
3
4,160,115
4,828,803
CURRENT ASSETS
-
-
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5
(854,647)
(1,978,277)
NET CURRENT LIABILITIES
(854,647)
(1,978,277)
TOTAL ASSETS LESS CURRENT LIABILITIES
3,305,468
2,850,526
PROVISIONS FOR LIABILITIES
(94,607)
(272)
NET ASSETS
3,210,861
2,850,254
CAPITAL AND RESERVES
Called up share capital
2,500,103
2,500,103
Fair value reserve
6
283,820
815
Profit and loss account
426,938
349,336
TOTAL EQUITY
3,210,861
2,850,254
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
HARRY FAMILY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 May 2025 and are signed on its behalf by:
..............................................
Roger Harry
Director
Company registration number 14164783 (England and Wales)
HARRY FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
1
ACCOUNTING POLICIES
Company information
Harry Family Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19 Llwyn Y Grant, Bronwydd Close, CARDIFF, CF23 5RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the value of realised gains and losses on fixed asset investments, including dividend and interest income. Unrealised gains and losses are included within overheads.
1.3
Fixed asset investments
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
HARRY FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
ACCOUNTING POLICIES
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
EMPLOYEES
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
2023
Number
Number
Total
3
FIXED ASSET INVESTMENTS
2024
2023
£
£
Other investments other than loans
4,160,115
4,828,803
HARRY FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
3
FIXED ASSET INVESTMENTS
(Continued)
- 5 -
MOVEMENTS IN FIXED ASSET INVESTMENTS
Investments
£
Cost or valuation
At 1 July 2023
4,828,803
Valuation changes
377,340
Net additions / (disposals)
(1,046,028)
At 31 March 2024
4,160,115
Carrying amount
At 31 March 2024
4,160,115
At 30 June 2023
4,828,803
4
FINANCIAL INSTRUMENTS
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
4,160,115
4,828,803
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Corporation tax
68,978
78,794
Other creditors
785,669
1,899,483
854,647
1,978,277
6
FAIR VALUE RESERVE
2024
2023
£
£
At the beginning of the Period
815
-
Non distributable profits in the Period
283,005
815
At the end of the Period
283,820
815
HARRY FAMILY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 6 -
8
DIRECTORS' TRANSACTIONS
Included within other creditors is an amount of £778,649 (2023 - £1,897,482) due to the directors. The amount is interest free.