Harp Visual Communications Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03671929 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Harp Visual Communications Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

641,333

649,089

641,333

649,089

CURRENT ASSETS

Stocks

480,000

550,000

Debtors

6

174,130

224,928

Cash at bank and in hand

524

508

654,654

775,436

CREDITORS

Amounts falling due within one year

7

703,929

693,268

NET CURRENT (LIABILITIES)/ASSETS

(49,275

)

82,168

TOTAL ASSETS LESS CURRENT
LIABILITIES

592,058

731,257

CREDITORS

Amounts falling due after more than one
year

8

(79,512

)

(146,012

)

PROVISIONS FOR LIABILITIES

(21,771

)

(23,377

)

NET ASSETS

490,775

561,868

CAPITAL AND RESERVES

Called up share capital

56

Revaluation reserve

10

353,994

Capital redemption reserve

11

Retained earnings

136,714

207,807

SHAREHOLDERS' FUNDS

490,775

561,868

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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.

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 4 September 2026 and were signed on its behalf by:

R Gould - Director

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.

Plant and machinery etc

-

25% on reducing balance

Land and buildings is shown at the most recent valuation. Any aggregate surplus or deficit arising from the change in fair value is recognised in the revaluation reserve.

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.

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 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

23,721

AMORTISATION

At 1 January 2025

and 31 December 2025

23,721

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 January 2025

610,000

327,180

937,180

Additions

-

1,439

At 31 December 2025

610,000

328,619

938,619

DEPRECIATION

At 1 January 2025

-

288,091

Charge for year

-

9,195

At 31 December 2025

-

297,286

NET BOOK VALUE

At 31 December 2025

610,000

31,333

641,333

At 31 December 2024

610,000

39,089

649,089

Freehold land & buildings were valued on an open market basis on 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 2025

29,980

Transfer to ownership

(29,980

)

At 31 December 2025

-

DEPRECIATION

At 1 January 2025

18,926

Charge for year

1,842

Transfer to ownership

(20,768

)

At 31 December 2025

-

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

11,054

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

18,600

13,451

Other debtors

155,530

211,477

174,130

224,928

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Bank loans and overdrafts

162,327

201,581

Hire purchase contracts

-

4,236

Trade creditors

5,323

8,276

Taxation and social security

322,218

224,856

Other creditors

214,061

254,319

703,929

693,268

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.25

31.12.24

£

Bank loans

44,632

79,263

Other creditors

34,880

66,749

79,512

146,012

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

Bank overdrafts

129,327

173,581

Hire purchase contracts

-

4,236

129,327

177,817

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 2025

and 31 December 2025

353,994

11.	OTHER FINANCIAL COMMITMENTS

As at the year end, the company had obligations totalling £60,252 (2024 : £56,379) under non-cancellable operating leases.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and 31 December 2024:

31.12.25

31.12.24

£

A Gould

Balance outstanding at start of year

105,646

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

105,646

Mrs P C M Gould

Balance outstanding at start of year

2,150

-

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.