ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 25 December 2020 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED - Company Information

Registered number: 02510804

HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED
(a company limited by guarantee)

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2020


HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 6


HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED REGISTERED NUMBER:02510804

BALANCE SHEET

AS AT 25 DECEMBER 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	4		4,503		4,722
Current assets
Debtors: amounts falling due within one year	5	18,492		988
Cash at bank and in hand		288,497		291,384
		306,989		292,372
Creditors: amounts falling due within one year	6	(83,047)		(83,187)
Net current assets			223,942		209,185
Total assets less current liabilities			228,445		213,907

Net assets			228,445		213,907

Capital and reserves
Profit and loss account	228,445	213,907
	228,445	213,907

Page 1


HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED REGISTERED NUMBER:02510804

BALANCE SHEET (CONTINUED)

AS AT 25 DECEMBER 2020

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

L.W MacPherson

Director

Date: 16 November 2021

The notes on pages 3 to 6 form part of these financial statements.

Page 2


HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2020

1.	General information

Harborne Retailers Management Company Limited (the company) is a private company, limited by guarantee and incorporated and domiciled in England. The registered office of the company is Rutland House, 148 Edmund Street, Birmingham, West Midlands, B3 2FD and its principal place of business is High Street, Harborne, Birmingham, West Midlands.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Rental income and service charges are recognised on a receivable basis.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.

Depreciation is provided on the following basis:

				Leasehold property - car park, Harborne	-	2% straight line
				Car park refurbishment	-	20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3


HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2020

2.Accounting policies (continued)

2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 4 (2019 - 4).

Page 4


HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2020

4.	Tangible fixed assets

	Leasehold property	Car park refurbish't	Total
	£	£	£
Cost
At 26 December 2019	10,964	62,746	73,710
At 25 December 2020	10,964	62,746	73,710
Depreciation
At 26 December 2019	6,242	62,746	68,988
Charge for the year on owned assets	219	-	219
At 25 December 2020	6,461	62,746	69,207
Net book value
At 25 December 2020	4,503	-	4,503
At 25 December 2019	4,722	-	4,722

Debtors

					2020	2019
					£	£


Other debtors	18,492	988

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Trade creditors	7,000	1,750
Corporation tax	19,814	17,452
Other creditors	30,000	45,200
Accruals and deferred income	26,233	18,785
	83,047	83,187

Page 5


HARBORNE RETAILERS MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2020

Not later than 1 year	80,000	80,000
Later than 1 year and not later than 5 years	220,000	300,000
	300,000	380,000

Page 6