Registration number:
Harvard Property Ltd
for the Year Ended 30 September 2023
Harvard Property Ltd
Contents
Company Information |
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Directors' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Harvard Property Ltd
Company Information
Directors |
Mr S Axe Mr O V Staicu |
Registered office |
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Accountants |
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Harvard Property Ltd
Directors' Report for the Year Ended 30 September 2023
The directors present their report and the financial statements for the year ended 30 September 2023.
Directors of the company
The directors who held office during the year were as follows:
Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The directors have confirmed they will continue to give financial support to the company. On this basis the directors considers it appropriate to prepare the accounts on a going concern basis. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
Small companies provision statement
This report has 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.
Approved and authorised by the
......................................... |
Harvard Property Ltd
(Registration number: 12220639)
Balance Sheet as at 30 September 2023
Note |
2023 |
2022 |
|
Current assets |
|||
Debtors |
- |
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Total assets less current liabilities |
( |
( |
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
1 |
1 |
|
Retained earnings |
(3,519) |
(5,309) |
|
Shareholders' deficit |
(3,518) |
(5,308) |
For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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. 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
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Harvard Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Accounting policies |
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.
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.
Harvard Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Borrowings
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
Current |
2023 |
2022 |
Other debtors |
- |
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Harvard Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
|
Due within one year |
|||
Bank loans and overdrafts |
|
|
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Trade creditors |
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|
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Accruals and deferred income |
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|
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Other creditors |
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|
|
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
1 |
|
1 |
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
||
Bank borrowings |
|
|
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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Harvard Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Related party transactions |
Transactions with directors |
2023 |
At 1 October 2022 |
Advances to director |
Repayments by director |
At 30 September 2023 |
Mr S Axe |
||||
No interest is charged on the loan and there is no fixed date of repayment. |
|
- |
- |
|
|
- |
- |
- |
- |
1,126 |
- |
- |
1,126 |
|
Mr O V Staicu |
||||
No interest is charged on the loan and there is no fixed date of repayment. |
|
( |
|
|
|
- |
- |
- |
- |
1,174 |
(784) |
797 |
1,187 |
|
2022 |
At 1 October 2021 |
Advances to director |
Repayments by director |
At 30 September 2022 |
Mr S Axe |
||||
No interest is charged on the loan and there is no fixed date of repayment. |
|
- |
- |
|
1,126 |
- |
- |
1,126 |
|
Mr O V Staicu |
||||
No interest is charged on the loan and there is no fixed date of repayment. |
|
( |
|
|
3,174 |
(5,700) |
3,700 |
1,174 |
|