Harvest Homes Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02162040 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

HARVEST HOMES PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M R Stedman

H C Brown

REGISTERED OFFICE:

The Lodge, Beacon End Farmhouse

London Road

Stanway

Colchester

Essex

CO3 0NQ

REGISTERED NUMBER:

02162040 (England and Wales)

ACCOUNTANTS:

RE Group Accountants Limited

Chartered Certified Accountants

The Maltings

Rosemary Lane

Halstead

Essex

CO9 1HZ

FIXED ASSETS

Tangible assets

3

40,596

36,629

CURRENT ASSETS

Stocks

716,769

722,500

Debtors

4

6,947

15,775

Cash at bank and in hand

831,939

847,075

1,555,655

1,585,350

CREDITORS

Amounts falling due within one year

5

432,271

881,349

NET CURRENT ASSETS

1,123,384

704,001

TOTAL ASSETS LESS CURRENT LIABILITIES

1,163,980

740,630

CREDITORS

Amounts falling due after more than one year

6

50,144

24,918

NET ASSETS

1,113,836

715,712

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

1,111,836

713,712

1,113,836

715,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 27 May 2022 and were signed on its behalf by:

M R Stedman - Director

1.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2020

66,879

Additions

15,000

At 31 August 2021

81,879

DEPRECIATION

At 1 September 2020

30,250

Charge for year

11,033

At 31 August 2021

41,283

NET BOOK VALUE

At 31 August 2021

40,596

At 31 August 2020

36,629

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

6,947

15,775

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

10,000

50,000

Hire purchase contracts

12,274

11,915

Trade creditors

7,000

54,000

Taxation and social security

93,031

31,732

Other creditors

309,966

733,702

432,271

881,349

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

37,500

-

Hire purchase contracts

12,644

24,918

50,144

24,918