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Registration number: 07761967

Harper James Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Harper James Limited

(Registration number: 07761967)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

174,946

44,358

Tangible assets

4

196,282

260,205

 

371,228

304,563

Current assets

 

Debtors

5

3,893,273

1,380,534

Cash at bank and in hand

 

1,044,307

1,353,190

 

4,937,580

2,733,724

Creditors: Amounts falling due within one year

6

(3,495,701)

(2,268,357)

Net current assets

 

1,441,879

465,367

Total assets less current liabilities

 

1,813,107

769,930

Creditors: Amounts falling due after more than one year

6

(51,365)

(98,890)

Provisions for liabilities

-

(8,500)

Net assets

 

1,761,742

662,540

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,761,741

662,539

Shareholders' funds

 

1,761,742

662,540

 

Harper James Limited

(Registration number: 07761967)

Balance Sheet as at 30 September 2024 (continued)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 19 May 2025 and signed on its behalf by:
 

.........................................

T Harper

Director

 

Harper James Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

Accounting policies

Statutory information

Harper James Limited is a private company, limited by shares, domiciled in England and Wales, company number 07761967. The registered office is at Floor 5, Cavendish House, 39-41 Waterloo Street, Birmingham, B2 5PP.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Harper James Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

1

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% on cost

Furniture & office equipment

25% on cost

Motor vehicles

25% - 33% on cost

Intangible assets

Intangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Assets under construction

nil

Other

10 years

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Harper James Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

1

Accounting policies (continued)

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 114 (2023 - 99).

3

Intangible assets

Assets under construction
£

Other intangible assets
 £

Total
£

Cost or valuation

At 1 October 2023

243,202

48,000

291,202

Additions

139,138

-

139,138

At 30 September 2024

382,340

48,000

430,340

Amortisation

At 1 October 2023

243,202

3,642

246,844

Amortisation charge

-

8,550

8,550

At 30 September 2024

243,202

12,192

255,394

Carrying amount

At 30 September 2024

139,138

35,808

174,946

At 30 September 2023

-

44,358

44,358

 

Harper James Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Computer equipment
£

Furniture & office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

89,133

30,949

225,353

345,435

Additions

4,772

951

-

5,723

At 30 September 2024

93,905

31,900

225,353

351,158

Depreciation

At 1 October 2023

33,870

9,618

41,742

85,230

Charge for the year

22,981

7,685

38,980

69,646

At 30 September 2024

56,851

17,303

80,722

154,876

Carrying amount

At 30 September 2024

37,054

14,597

144,631

196,282

At 30 September 2023

55,263

21,331

183,611

260,205

5

Debtors

2024
£

2023
£

Trade debtors

1,655,760

1,210,821

Amounts owed by related parties

1,856,626

3,750

Prepayments

302,083

145,153

Other debtors

30,804

20,810

Deferred tax asset

48,000

-

 

3,893,273

1,380,534

Details of non-current trade and other debtors

The deferred tax asset of £48,000 is recoverable after more than one year.

 

Harper James Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Obligations under finance lease and hire purchase contracts

47,501

15,536

Trade creditors

300,199

166,162

Taxation and social security

1,419,592

1,008,869

Accruals and deferred income

1,438,858

983,875

Other creditors

289,551

93,915

3,495,701

2,268,357

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Obligations under finance lease and hire purchase contracts

51,365

98,890

The hire purchase liabilities are secured by a charge over the relevant assets.

7

Financial commitments, guarantees and contingencies

Operating leases

As at the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaing term of those leases of £145,609 (2023 - £47,472).

8

Related party transactions

At the balance sheet date the balance due from T Harper, a director of the company, was £24,303 (2023 - £1,400).