HARMONY CHILDREN'S SERVICES LIMITED Filleted accounts for Companies House (small and micro)

HARMONY CHILDREN'S SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07350725

HARMONY CHILDREN'S SERVICES LIMITED

Filleted Unaudited Financial Statements

31 December 2019

HARMONY CHILDREN'S SERVICES LIMITED

Statement of Financial Position

31 December 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5		20,841	19,592

Current assets

Debtors	6	53,795	33,252
Cash at bank and in hand		39,242	41,171
		---------	---------
		93,037	74,423

Creditors: amounts falling due within one year	7	71,831		65,612
		---------		---------
Net current assets			21,206	8,811
			---------	---------
Total assets less current liabilities			42,047	28,403

Creditors: amounts falling due after more than one year	8		2,853	1,517

Provisions

Taxation including deferred tax	1,491	2,070
	---------	---------
Net assets	37,703	24,816
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	37,603	24,716
	---------	---------
Shareholders funds	37,703	24,816
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2019 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

HARMONY CHILDREN'S SERVICES LIMITED

Statement of Financial Position (continued)

31 December 2019

These financial statements were approved by the board of directors and authorised for issue on 20 May 2020 , and are signed on behalf of the board by:

Mr. P N Fraser	Mr M Raw
Director	Director

Company registration number: 07350725

HARMONY CHILDREN'S SERVICES LIMITED

Notes to the Financial Statements

Year ended 31 December 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Park Place, Leeds, West Yorkshire, LS1 2RX, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for services provided during the period.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	20% reducing balance
Fixtures & Fittings	-	20% reducing balance
Motor Vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 25 (2018: 25 ).

5. Tangible assets

	Leasehold property	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2019	12,321	33,931	18,287	64,539
Additions	–	1,688	4,100	5,788
	---------	---------	---------	---------
At 31 December 2019	12,321	35,619	22,387	70,327
	---------	---------	---------	---------
Depreciation
At 1 January 2019	9,091	21,845	14,011	44,947
Charge for the year	646	2,568	1,325	4,539
	---------	---------	---------	---------
At 31 December 2019	9,737	24,413	15,336	49,486
	---------	---------	---------	---------
Carrying amount
At 31 December 2019	2,584	11,206	7,051	20,841
	---------	---------	---------	---------
At 31 December 2018	3,230	12,086	4,276	19,592
	---------	---------	---------	---------

6. Debtors

	2019	2018
	£	£
Trade debtors	48,040	31,850
Other debtors	5,755	1,402
	---------	---------
	53,795	33,252
	---------	---------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Corporation tax	3,473	2,176
Social security and other taxes	14,818	6,218
Other creditors	53,540	57,218
	---------	---------
	71,831	65,612
	---------	---------

8. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Other creditors	2,853	1,517
	-------	-------

9. Directors' advances, credits and guarantees

There are no directors transactions which require disclosure in the financial statements.

10. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting for Smaller Entities (effective January 2015).

11. Control

The company was under the control of the directors/shareholder throughout the current and previous year.