Company No:
Contents
| Note | 30.09.2024 | 31.03.2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| 535 | 765 | |||
| Current assets | ||||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 229,624 | 167,574 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current assets | 93,594 | 120,691 | ||
| Total assets less current liabilities | 94,129 | 121,456 | ||
| Creditors: amounts falling due after more than one year | 6 |
|
(
|
|
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 7 |
|
|
|
| Profit and loss account |
|
|
||
| Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Harbour International Group Ltd (registered number:
|
Mr I J Leigh
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
Harbour International Group Ltd (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 Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, 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 £.
The directors have assessed the Balance Sheet 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.
The company's accounting period has been extended to the eighteen months ended 30 September 2024 and as such the comparative amounts presented in the financial statements are not directly comparable.
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.
| Office equipment |
|
The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic. The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
| Period from 01.04.2023 to 30.09.2024 |
Year ended 31.03.2023 |
||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the period, including directors |
|
|
| Office equipment | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 April 2023 |
|
|
|
| At 30 September 2024 |
|
|
|
| Accumulated depreciation | |||
| At 01 April 2023 |
|
|
|
| Charge for the financial period |
|
|
|
| At 30 September 2024 |
|
|
|
| Net book value | |||
| At 30 September 2024 | 535 | 535 | |
| At 31 March 2023 | 765 | 765 |
| 30.09.2024 | 31.03.2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 30.09.2024 | 31.03.2023 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 30.09.2024 | 31.03.2023 | ||
| £ | £ | ||
| Bank loans |
|
|
| 30.09.2024 | 31.03.2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
Transactions with the entity's directors
| 30.09.2024 | 31.03.2023 | ||
| £ | £ | ||
| Advances to director. Interest charged at official HMRC rate | 172,638 | 136,386 |