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Company No: 05195252 (England and Wales)

132 HARLEY STREET LIMITED

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

132 HARLEY STREET LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

132 HARLEY STREET LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
132 HARLEY STREET LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 21,554 26,428
21,554 26,428
Current assets
Stocks 5 9,502 9,402
Debtors 6 364,670 414,302
374,172 423,704
Creditors: amounts falling due within one year 7 ( 492,810) ( 341,778)
Net current (liabilities)/assets (118,638) 81,926
Total assets less current liabilities (97,084) 108,354
Creditors: amounts falling due after more than one year 8 ( 154,862) ( 186,298)
Net liabilities ( 251,946) ( 77,944)
Capital and reserves
Called-up share capital 9 111 111
Profit and loss account ( 252,057 ) ( 78,055 )
Total shareholders' deficit ( 251,946) ( 77,944)

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

Directors' responsibilities:

The financial statements of 132 Harley Street Limited (registered number: 05195252) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J R Smith
Director

26 June 2025

132 HARLEY STREET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
132 HARLEY STREET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

132 Harley Street 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 132 Harley Street, London, W1G 7JX, 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 16 10

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 214,006 214,006
Additions 515 515
At 31 March 2024 214,521 214,521
Accumulated depreciation
At 01 April 2023 187,578 187,578
Charge for the financial year 5,389 5,389
At 31 March 2024 192,967 192,967
Net book value
At 31 March 2024 21,554 21,554
At 31 March 2023 26,428 26,428

5. Stocks

2024 2023
£ £
Stocks 9,502 9,402

6. Debtors

2024 2023
£ £
Trade debtors 80,492 135,699
Other debtors 284,178 278,603
364,670 414,302

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 177,312 45,599
Trade creditors 224,822 0
Amounts owed to connected persons 4,880 0
Amounts owed to connected companies 0 3,080
Taxation and social security 1,679 141,205
Other creditors 84,117 151,894
492,810 341,778

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

2024 2023
£ £
Bank loans 154,862 186,298

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,111 Ordinary shares of £ 0.10 each 111 111