| Harborough Finance Limited |
| Registered number: |
01375373 |
| Balance Sheet |
| as at 31 December 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Current assets |
| Debtors |
3 |
|
1,906,809 |
|
|
2,464,861 |
| Cash at bank and in hand |
|
|
465,484 |
|
|
4,831 |
|
|
|
2,372,293 |
|
|
2,469,692 |
|
| Creditors: amounts falling due within one year |
4 |
|
(961,575) |
|
|
(1,336,049) |
|
| Net current assets |
|
|
|
1,410,718 |
|
|
1,133,643 |
|
| Total assets less current liabilities |
|
|
|
1,410,718 |
|
|
1,133,643 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(1,221,990) |
|
|
(999,417) |
|
|
|
| Net assets |
|
|
|
188,728 |
|
|
134,226 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
188,628 |
|
|
134,126 |
|
| Shareholders' funds |
|
|
|
188,728 |
|
|
134,226 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| R A Kowenicki |
| Director |
| Approved by the board on 25 August 2022 |
|
| Harborough Finance Limited |
| Notes to the Accounts |
| for the year ended 31 December 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable. It includes revenue earned from the provision of finance. Interest income is recognised when it falls due after taking into account any impairment. Turnover from the rendering of services is recognised by reference to the date upon which it becomes contractually due after taking account of any costs to be incurred. |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade debtors |
1,902,147 |
|
2,359,154 |
|
Other debtors |
4,662 |
|
105,707 |
|
|
|
|
|
|
1,906,809 |
|
2,464,861 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade creditors |
926,313 |
|
1,315,646 |
|
Taxation and social security costs |
35,263 |
|
12,405 |
|
Other creditors |
(1) |
|
7,998 |
|
|
|
|
|
|
961,575 |
|
1,336,049 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
1,221,990 |
|
999,417 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Controlling party |
|
|
The ultimate controlling party is the director, R Kowenicki, by virtue of his controlling interest in the parent company, General Factors Limited incorporated in Guernsey. |
|
|
| 7 |
Other information |
|
|
Harborough Finance Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Linden House |
|
Linden Close |
|
Tunbridge Wells |
|
Kent |
|
TN4 8HH |
