Company No: 13111992 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Current assets
Stocks	3	1,297,008		499,363
Debtors	4	9,279		176
Cash at bank and in hand		35,384		3,685
		1,341,671		503,224
Creditors: amounts falling due within one year	5	( 1,352,008)		( 511,062)
Net current liabilities		(10,337)		(7,838)
Total assets less current liabilities		(10,337)		(7,838)
Net liabilities		( 10,337)		( 7,838)
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		( 10,437 )		( 7,938 )
Total shareholders' deficit		( 10,337)		( 7,838)

For the financial year ending 31 December 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Harmony Homes 2020 Limited (registered number: 13111992) were approved and authorised for issue by the Board of Directors on 09 September 2025. They were signed on its behalf by:

Mr A Drake Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Harmony Homes 2020 Limited (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 Unit 5 Midas Court Minerva Way, Brunel Road Industrial Estate, Newton Abbot, TQ12 4PJ, 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 £.

Going concern

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Stocks

	2024		2023
	£		£
Work in progress (secured)	1,297,008		499,363

4. Debtors

	2024		2023
	£		£
Amounts owed by Parent undertakings	100		100
VAT recoverable	9,179		76
	9,279		176

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans (secured)	279,162		0
Trade creditors	36,613		2,662
Amounts owed to associates	1,028,359		506,650
Accruals	1,900		1,750
Other taxation and social security	5,974		0
	1,352,008		511,062

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

7. Related party transactions

Transactions with owners holding a participating interest in the entity

	2024		2023
	£		£
Larkmead Homes Limited	51		51
Harmony Homes (Devon) Limited	49		49
Marymead Limited	1,028,359		506,650

No interest is charged on the Larkmead Homes Limited loan & Harmony Homes (Devon) Limited loan and there are no fixed repayment terms. Interest is charged on the Marymead Limited loan at 2% over the bank base rate.