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Filleted

Registration number: 13748805

Harbwr Tenby Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Harbwr Tenby Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Harbwr Tenby Limited

Company Information

Directors

Mr M Evans

Mr R Barnes

Registered office

Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

 

Harbwr Tenby Limited

(Registration number: 13748805)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

19,656

21,839

Tangible assets

6

305,093

59,678

 

324,749

81,517

Current assets

 

Stocks

7

8,000

12,000

Debtors

8

868,312

1,063,265

Cash at bank and in hand

 

108,449

13,974

 

984,761

1,089,239

Creditors: Amounts falling due within one year

9

(488,378)

(508,695)

Net current assets

 

496,383

580,544

Total assets less current liabilities

 

821,132

662,061

Provisions for liabilities

(8,618)

(20,281)

Net assets

 

812,514

641,780

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

812,414

641,680

Total equity

 

812,514

641,780

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Harbwr Tenby Limited

(Registration number: 13748805)
Balance Sheet as at 30 November 2024

Approved and authorised by the Board on 29 August 2025 and signed on its behalf by:
 

.........................................
Mr M Evans
Director

   
     
 

Harbwr Tenby Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

These financial statements were authorised for issue by the Board on 29 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Harbwr Tenby Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

30 Years Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Harbwr Tenby Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2023 - 37).

4

Profit before tax

Arrived at after charging/(crediting)

 

Harbwr Tenby Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

2024
£

2023
£

Depreciation expense

20,331

14,406

Amortisation expense

2,183

2,183

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

26,205

26,205

At 30 November 2024

26,205

26,205

Amortisation

At 1 December 2023

4,366

4,366

Amortisation charge

2,183

2,183

At 30 November 2024

6,549

6,549

Carrying amount

At 30 November 2024

19,656

19,656

At 30 November 2023

21,839

21,839

Revalued assets for the year ended 30 November 2023

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2023

-

88,856

916

89,772

Additions

265,038

-

708

265,746

At 30 November 2024

265,038

88,856

1,624

355,518

Depreciation

At 1 December 2023

-

30,069

25

30,094

Charge for the year

5,301

14,697

333

20,331

At 30 November 2024

5,301

44,766

358

50,425

Carrying amount

At 30 November 2024

259,737

44,090

1,266

305,093

At 30 November 2023

-

58,787

891

59,678

Included within the net book value of land and buildings above is £259,737 (2023 - £Nil) in respect of freehold land and buildings.
 

 

Harbwr Tenby Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

7

Stocks

2024
£

2023
£

Other inventories

8,000

12,000

8

Debtors

Note

2024
£

2023
£

Trade debtors

 

341

-

Amounts owed by related parties

11

551,397

1,058,275

Prepayments

 

2,409

4,990

Other debtors

 

314,165

-

 

868,312

1,063,265

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

124,260

91,397

Taxation and social security

 

119,870

97,003

Amounts owed to related parties

 

109,439

140,000

Outstanding defined contribution pension costs

 

2,003

-

Corporation tax liability

 

110,516

157,981

Other creditors

 

22,290

11,747

Director 2 current account

 

-

5,611

Director 1 current account

 

-

4,956

 

488,378

508,695

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

50

50

50

50

A Ordinary Shares of £1 each

45

45

45

45

B Ordinary Shares of £1 each

5

5

5

5

 

100

100

100

100

 

Harbwr Tenby Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

11

Related party transactions

During the year the company gave financial assistance to Cobourg Development Ltd a company controlled by M Evans. The balance due to the company at the balance sheet date was £369,000 (2023 £369,000). This loan is interest free and repayable on demand and has been included under note 12.

During the year the company gave financial assistance to Harbour Brewery Limited, a company controlled by the directors. The balance due from the company at the balance sheet date was £5,455 (2023 £176,480). This loan is interest free and repayable on demand and has been included under note 12.

During the year the company gave financial assistance to Harbwr Saundersfoot limited a company controlled by the directors. The balance due to the company at the balance sheet date was £0 (2023 £86,000). This loan is interest free and repayable on demand and has been included under note 12.

During the year the company gave financial assistance to Hope and Anchor Limited, a company controlled by M Evans. The balance due from the company at the balance sheet date was £1,440 (2023 £1,440). This loan is interest free and repayable on demand and has been included under note 12.

During the year the company gave financial assistance to Tenby Bookshop (Tenby) Limited, a company controlled by M Evans. The balance due from the company at the balance sheet date was £30,000 (2023 £43,000). This loan is interest free and repayable on demand and has been included under note 12

During the year the company gave financial assistance to The Buccaneer (Tenby) Limited, a company controlled by M Evans. The balance due from the company at the balance sheet date was £145,502 (2023 £382,355). This loan is interest free and repayable on demand and has been included under note 12.

During the year the company received financial assistance from The Chem Inn (Saundersfoot) Limited, a company controlled by the directors. The balance due from the company at the balance sheet date was £74,875 (2023 £140,000). This loan is interest free and repayable on demand and has been included under note 11.

During the year the company received financial assistance from Harbwr Saundersfoot Limited, a company controlled by the directors. The balance due from the company at the balance sheet date was £34,564. This loan is interest free and repayable on demand and has been included under note 11.

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mr R Barnes

Loan from the director and repayable on demand

5,611

(318,011)

191,609

(120,791)

         
       

Mr M Evans

Loan from the director and repayable on demand

4,956

(208,810)

46,000

(157,854)

         
       

 

 

Harbwr Tenby Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr R Barnes

Loan from the director and repayable on demand

504

(161,442)

166,549

5,611

         
       

Mr M Evans

Loan from the director and repayable on demand

521

(199,600)

204,035

4,956