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REGISTERED NUMBER: 09503488 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

HARRISON MORGAN LIMITED
TRADING AS
HELM

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARRISON MORGAN LIMITED
TRADING AS HELM

COMPANY INFORMATION
for the Year Ended 30 November 2024







DIRECTORS: S Morgan
P Harrison
R Haller





REGISTERED OFFICE: 10 London Mews
Paddington
LONDON
W2 1HY





REGISTERED NUMBER: 09503488 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

BALANCE SHEET
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 283,107 -
Tangible assets 5 22,651 46,752
305,758 46,752

CURRENT ASSETS
Debtors 6 4,954,748 4,147,615
Cash at bank 462,333 729,050
5,417,081 4,876,665
CREDITORS
Amounts falling due within one year 7 5,589,568 4,861,539
NET CURRENT (LIABILITIES)/ASSETS (172,487 ) 15,126
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,271

61,878

CREDITORS
Amounts falling due after more than one
year

8

8,512

87,182
NET ASSETS/(LIABILITIES) 124,759 (25,304 )

CAPITAL AND RESERVES
Called up share capital 10 42,000 42,000
Share premium 588,000 588,000
Retained earnings (505,241 ) (655,304 )
SHAREHOLDERS' FUNDS 124,759 (25,304 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

BALANCE SHEET - continued
30 November 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 27 August 2025 and were signed on its behalf by:




S Morgan - Director



P Harrison - Director


HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Harrison Morgan 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.

Going Concern
The accounts have been prepared on the going concern basis. The directors consider that there are no material uncertainties regarding the company's ability to continue in operational existence for the foreseeable future, which is deemed to be 12 months from the date of approval of the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net commission receivable, excluding value added tax. Commission arises on the brokering of yacht charters and is recognised by reference to the stage of completion. For some contracts completion arises on payment of the deposit for the charter, for other contracts it is on a date of travel basis.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33.33% straight line
Website & Computer equipmt - 33.33% straight line

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors and other creditors.

The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost.


HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises prior year tax 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 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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
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 contributes to a work place pension scheme. Contributions payable to the scheme are charged to the profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 13 ) .

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 330,292
At 30 November 2024 330,292
AMORTISATION
Charge for year 47,185
At 30 November 2024 47,185
NET BOOK VALUE
At 30 November 2024 283,107

5. TANGIBLE FIXED ASSETS
Fixtures Website &
Short and Computer
leasehold fittings equipmt Totals
£    £    £    £   
COST
At 1 December 2023 7,283 9,172 201,975 218,430
Additions - 263 6,300 6,563
At 30 November 2024 7,283 9,435 208,275 224,993
DEPRECIATION
At 1 December 2023 607 7,139 163,932 171,678
Charge for year 1,456 1,329 27,879 30,664
At 30 November 2024 2,063 8,468 191,811 202,342
NET BOOK VALUE
At 30 November 2024 5,220 967 16,464 22,651
At 30 November 2023 6,676 2,033 38,043 46,752

6. DEBTORS
30.11.24 30.11.23
£    £   
Amounts falling due within one year:
Trade debtors 4,872,985 3,842,357
Amounts owed by group undertakings - 1
Other debtors 81,763 239,407
4,954,748 4,081,765

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

6. DEBTORS - continued
30.11.24 30.11.23
£    £   
Amounts falling due after more than one year:
Trade debtors - 65,850

Aggregate amounts 4,954,748 4,147,615

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 14,673 45,156
Trade creditors 4,938,499 3,774,822
Social security and other taxes 25,038 16,373
Other creditors 2,947 -
Directors' current accounts 169,771 203,771
Deferred income 428,640 811,417
Accrued expenses 10,000 10,000
5,589,568 4,861,539

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans - 1-2 years 5,291 10,375
Bank loans - 2-5 years - 5,289
Trade creditors - 54,226
Deferred income 3,221 17,292
8,512 87,182

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.24 30.11.23
£    £   
Within one year 75,184 75,184
Between one and five years 6,265 269,409
81,449 344,593

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
42,000 Ordinary £1 42,000 42,000

All shares have the same income, capital and winding up rights.

HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

11. RELATED PARTY DISCLOSURES

During the year the company repaid the directors £34,000. As at 30th November 2024, the company owed the directors £169,771 (2023: £203,771), included within Other Creditors. The loans are repayable on demand and interest is charged.