Registration number: 05415187

Harbourside Construction (SW) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

Harbourside Construction (SW) Limited

Company Information

Directors

Mr Samuel Nicholas Hill Mr Ian Hill

Registered office

Barnfield Farm Broadhempston Totnes Devon TQ9 6BB

Accountants

Neil Wilson Accountancy Limited Bank Chambers 260-262 Union Street Torquay Devon TQ2 5QU

Harbourside Construction (SW) Limited

(Registration number: 05415187)
Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	116,300	89,269
Current assets
Debtors	5	12,833	9,895
Cash at bank and in hand		23,493	32,184
		36,326	42,079
Creditors: Amounts falling due within one year	6	(113,908)	(115,127)
Net current liabilities		(77,582)	(73,048)
Total assets less current liabilities		38,718	16,221
Creditors: Amounts falling due after more than one year	6	(51,585)	-
Provisions for liabilities		(2,909)	(11,051)
Net (liabilities)/assets		(15,776)	5,170
Capital and reserves
Called up share capital	7	2	2
Retained earnings		(15,778)	5,168
Shareholders' (deficit)/funds		(15,776)	5,170

For the financial year ending 30 June 2025 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 March 2026 and signed on its behalf by:
 

......................................... Mr Samuel Nicholas Hill Director

Harbourside Construction (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

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:
Barnfield Farm
Broadhempston
Totnes
Devon
TQ9 6BB
England

These financial statements were authorised for issue by the Board on 31 March 2026.

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

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 deferred 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.

Harbourside Construction (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

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
Motor vehicle	25% reducing balance
Office equipment	25% reducing balance
Plant & machinery	25% reducing balance
Fixtures & fittings	25% reducing balance

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.

Trade 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.

Trade 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.

Borrowings

Harbourside Construction (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Harbourside Construction (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 July 2024	3,979	57,591	84,076	145,646
Additions	-	-	65,800	65,800
At 30 June 2025	3,979	57,591	149,876	211,446
Depreciation
At 1 July 2024	3,059	23,252	30,066	56,377
Charge for the year	231	8,585	29,953	38,769
At 30 June 2025	3,290	31,837	60,019	95,146
Carrying amount
At 30 June 2025	689	25,754	89,857	116,300
At 30 June 2024	920	34,339	54,010	89,269

5

Debtors

Current	2025 £	2024 £
Trade debtors	5,976	8,895
Prepayments	6,857	1,000
	12,833	9,895

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	86,031	76,026
Trade creditors		2,527	2,517
Taxation and social security		(1,814)	3,142
Accruals and deferred income		12,814	7,383
Other creditors		14,350	26,059
		113,908	115,127

Creditors: amounts falling due after more than one year

Harbourside Construction (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	51,585	-

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	2	2	2	2

Harbourside Construction (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	51,585	-

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	40,459	12,705
Hire purchase contracts	45,572	63,321
	86,031	76,026

9

Dividends

		2025		2024
		£		£
Final dividend of £Nil (2024 - £Nil) per ordinary share		-		-
Interim dividend of £Nil (2024 - £10,000.00) per ordinary share		500		20,000
		500		20,000

10	Related party transactions

Transactions with directors

2025	At 1 July 2024 £	Advances to director £	Repayments by director £	At 30 June 2025 £
Mr Samuel Nicholas Hill
Samuel Hill	(32,841)	14,132	(500)	(19,209)
	-	-	-	-
	(32,841)	14,132	(500)	(19,209)

Harbourside Construction (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

2024	At 1 July 2023 £	Repayments by director £	At 30 June 2024 £
Mr Samuel Nicholas Hill
Samuel Hill	(41,957)	9,116	(32,841)
	-	-	-
	(41,957)	9,116	(32,841)

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	12,570	12,570

Dividends paid to directors

		2025 £		2024 £
Mr Samuel Nicholas Hill
Interim dividends paid		500		20,000