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REGISTERED NUMBER: 03671929 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Harp Visual Communications Limited

Harp Visual Communications Limited (Registered number: 03671929)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harp Visual Communications Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R Gould
Mrs P C M Gould





REGISTERED OFFICE: C4 Segensworth Business Centre
Segensworth Road
Fareham
Hampshire
PO15 5RH





REGISTERED NUMBER: 03671929 (England and Wales)





ACCOUNTANTS: Roches
Chartered Accountants
1 Manor Court
6 Barnes Wallis Road
Segensworth
Fareham
Hampshire
PO15 5TH

Harp Visual Communications Limited (Registered number: 03671929)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 649,089 650,876
649,089 650,876

CURRENT ASSETS
Stocks 550,000 631,782
Debtors 6 224,928 192,316
Cash at bank and in hand 508 551
775,436 824,649
CREDITORS
Amounts falling due within one year 7 693,268 686,631
NET CURRENT ASSETS 82,168 138,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

731,257

788,894

CREDITORS
Amounts falling due after more than one
year

8

(146,012

)

(230,400

)

PROVISIONS FOR LIABILITIES (23,377 ) -
NET ASSETS 561,868 558,494

CAPITAL AND RESERVES
Called up share capital 56 56
Revaluation reserve 10 353,994 358,717
Capital redemption reserve 11 11
Retained earnings 207,807 199,710
SHAREHOLDERS' FUNDS 561,868 558,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Harp Visual Communications Limited (Registered number: 03671929)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2025 and were signed on its behalf by:





R Gould - Director


Harp Visual Communications Limited (Registered number: 03671929)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Harp Visual Communications Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets
In line with FRS 10 "Goodwill and Intangible Assets", the costs of designing a web site and a patent application have been capitalised and amortised over their estimated useful economic life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Financial assets & financial liabilities are initially recognised at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. However, if the arrangement constitutes a financing transaction then it is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets & financial liabilities classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Harp Visual Communications Limited (Registered number: 03671929)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 23,721
AMORTISATION
At 1 January 2024
and 31 December 2024 23,721
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Harp Visual Communications Limited (Registered number: 03671929)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 600,000 327,180 927,180
Revaluations 10,000 - 10,000
At 31 December 2024 610,000 327,180 937,180
DEPRECIATION
At 1 January 2024 - 276,304 276,304
Charge for year - 11,787 11,787
At 31 December 2024 - 288,091 288,091
NET BOOK VALUE
At 31 December 2024 610,000 39,089 649,089
At 31 December 2023 600,000 50,876 650,876

Freehold land and buildings were valued on an open market basis on the 30th November 2023 by an independent RICS registered valuer.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 January 2024
and 31 December 2024 29,980
DEPRECIATION
At 1 January 2024 15,242
Charge for year 3,684
At 31 December 2024 18,926
NET BOOK VALUE
At 31 December 2024 11,054
At 31 December 2023 14,738

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 13,451 21,394
Other debtors 211,477 170,922
224,928 192,316

Harp Visual Communications Limited (Registered number: 03671929)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 201,581 188,161
Hire purchase contracts 4,236 6,906
Trade creditors 8,276 107,128
Taxation and social security 224,856 155,919
Other creditors 254,319 228,517
693,268 686,631

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 79,263 106,698
Hire purchase contracts - 4,236
Other creditors 66,749 119,466
146,012 230,400

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank overdrafts 173,581 140,328
Hire purchase contracts 4,236 11,142
177,817 151,470

Bank overdrafts are secured by a fixed and floating charge over the assets of the company. The bank loan is secured by a legal mortgage over the property owned by the company.

The hire purchase debt is secured on the asset concerned.

10. RESERVES
Revaluation
reserve
£   
At 1 January 2024 358,717
Revaluation reserve 10,000
Deferred tax (14,723 )

At 31 December 2024 353,994

11. OTHER FINANCIAL COMMITMENTS

As at the year end, the company had obligations totalling £56,379 (2023 : £63,775) under non-cancellable operating leases.

Harp Visual Communications Limited (Registered number: 03671929)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
A Gould
Balance outstanding at start of year 105,646 194,505
Amounts advanced - 16,041
Amounts repaid - (104,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 105,646 105,646

Mrs P C M Gould
Balance outstanding at start of year - -
Amounts advanced 2,150 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,150 -

The loan to Mr A. Gould (director until 12th September 2023) has been moved to Other debtors. This amount is still due to the company at year end.

Interest has been charged on the loan to Mr A. Gould at the official rate, up to the date of his death.

The above loans are repayable on demand.