HARROW_PROJECT_SERVICES_L - Accounts

HARROW PROJECT SERVICES LIMITED - Company Information

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Company Registration No. 07827709 (England and Wales)

HARROW PROJECT SERVICES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2014

HARROW PROJECT SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HARROW PROJECT SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

307

Current assets

Debtors

2,925

4,830

Cash at bank and in hand

5,374

2,285

8,299

7,115

Creditors: amounts falling due within one year

(8,002)

(7,179)

Net current assets/(liabilities)

297

(64)

Total assets less current liabilities

391

243

Provisions for liabilities

(18)

(61)

373

182

Capital and reserves

Called up share capital

100

Profit and loss account

273

Shareholders' funds

373

182

For the financial year ended 31 October 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 2 February 2015

Mr D G Harrow

Director

Company Registration No. 07827709

HARROW PROJECT SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services delivered.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% straight line

1.5

Deferred taxation

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax at a future date at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

Fixed assets

Tangible assets

Cost

At 1 November 2013 & at 31 October 2014

638

Depreciation

At 1 November 2013

331

Charge for the year

213

At 31 October 2014

544

Net book value

At 31 October 2014

At 31 October 2013

307

HARROW PROJECT SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Advances and credits granted to the director during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr D G Harrow

2,006

As at 31 October 2014, the company was indebted to Mr D Harrow, director and shareholder, for an amount of £319. The loan is interest free with no fixed date for repayment.