REGISTERED NUMBER: SC218515 (Scotland) |
Unaudited Financial Statements for the Year Ended 27 August 2024 |
for |
Harbour Havens Limited |
REGISTERED NUMBER: SC218515 (Scotland) |
Unaudited Financial Statements for the Year Ended 27 August 2024 |
for |
Harbour Havens Limited |
Harbour Havens Limited (Registered number: SC218515) |
Contents of the Financial Statements |
for the Year Ended 27 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Harbour Havens Limited |
Company Information |
for the Year Ended 27 August 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
25 Sandyford Place |
Glasgow |
G3 7NG |
Harbour Havens Limited (Registered number: SC218515) |
Balance Sheet |
27 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stock |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Harbour Havens Limited (Registered number: SC218515) |
Balance Sheet - continued |
27 August 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Harbour Havens Limited (Registered number: SC218515) |
Notes to the Financial Statements |
for the Year Ended 27 August 2024 |
1. | STATUTORY INFORMATION |
Harbour Havens Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared on the going concern basis of accounting which assumes the continuing support of the company's directors and bankers. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Heritable property | - |
Fittings and equipment | - |
Stocks |
Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Harbour Havens Limited (Registered number: SC218515) |
Notes to the Financial Statements - continued |
for the Year Ended 27 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Government grants |
Government grants received in respect of expenditure on fixed assets are credited to reserves and released to profit and loss account evenly over the expected useful lives of the assets concerned. |
Grant income |
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Harbour Havens Limited (Registered number: SC218515) |
Notes to the Financial Statements - continued |
for the Year Ended 27 August 2024 |
4. | TANGIBLE FIXED ASSETS |
Fittings |
Heritable | and |
property | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 28 August 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 27 August 2024 |
DEPRECIATION |
At 28 August 2023 |
Charge for year |
At 27 August 2024 |
NET BOOK VALUE |
At 27 August 2024 |
At 27 August 2023 |
The company's heritable property was valued at £600,000 on an open market basis by J & E Shepherd, Chartered Surveyors, on 20th November 2003. Additional works have been undertaken since that date and in the opinion of the directors the value of the heritable property is substantially in excess of the historical cost at which they are included in these financial statements. |
Cost or valuation at 27 August 2024 is represented by: |
Fittings |
Heritable | and |
property | equipment | Totals |
£ | £ | £ |
Cost | 1,009,094 | 333,197 | 1,342,291 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Harbour Havens Limited (Registered number: SC218515) |
Notes to the Financial Statements - continued |
for the Year Ended 27 August 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more than 5 years | - | 30,570 |
The Directors loan account is interest free and should not fall below £60,000 for a period of 5 years under the terms of the government grant assistance provided towards the cost of the company's heritable property. |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
Mortgage loans are secured by a standard security over the company's heritable property and by a bond and floating charge over the whole of the company's assets. |
Bank overdrafts and loans are secured by a second bond and floating charge over the whole of the company's assets. |
8. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 2,259 | 3,197 |
Deferred |
tax |
£ |
Balance at 28 August 2023 |
Credit to Statement of Income and Retained Earnings during year | ( |
) |
Balance at 27 August 2024 |
Harbour Havens Limited (Registered number: SC218515) |
Notes to the Financial Statements - continued |
for the Year Ended 27 August 2024 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
10. | ULTIMATE CONTROLLING PARTY |
The company was under the control of the two directors, Mrs A Acuna and Mr W R Acuna, who together own the entire issued share capital of the company. |