ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

HARRISON DESIGN GROUP LIMITED - Company Information

Caseware UK (AP4) 2020.0.247 2020.0.247 2021-02-282021-02-28The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2020-03-01falseSpecialised Design Activities44truetrue 10587349 2020-03-01 2021-02-28 10587349 2018-10-01 2020-02-29 10587349 2021-02-28 10587349 2020-02-29 10587349 c:Director1 2020-03-01 2021-02-28 10587349 d:CurrentFinancialInstruments 2021-02-28 10587349 d:CurrentFinancialInstruments 2020-02-29 10587349 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 10587349 d:CurrentFinancialInstruments d:WithinOneYear 2020-02-29 10587349 d:ShareCapital 2021-02-28 10587349 d:ShareCapital 2020-02-29 10587349 d:RetainedEarningsAccumulatedLosses 2021-02-28 10587349 d:RetainedEarningsAccumulatedLosses 2020-02-29 10587349 c:OrdinaryShareClass1 2020-03-01 2021-02-28 10587349 c:OrdinaryShareClass1 2021-02-28 10587349 c:OrdinaryShareClass1 2020-02-29 10587349 c:OrdinaryShareClass2 2020-03-01 2021-02-28 10587349 c:OrdinaryShareClass2 2021-02-28 10587349 c:OrdinaryShareClass2 2020-02-29 10587349 c:OrdinaryShareClass3 2020-03-01 2021-02-28 10587349 c:OrdinaryShareClass3 2021-02-28 10587349 c:OrdinaryShareClass3 2020-02-29 10587349 c:OrdinaryShareClass4 2020-03-01 2021-02-28 10587349 c:OrdinaryShareClass4 2021-02-28 10587349 c:OrdinaryShareClass4 2020-02-29 10587349 c:OrdinaryShareClass5 2020-03-01 2021-02-28 10587349 c:OrdinaryShareClass5 2021-02-28 10587349 c:OrdinaryShareClass5 2020-02-29 10587349 c:FRS102 2020-03-01 2021-02-28 10587349 c:AuditExempt-NoAccountantsReport 2020-03-01 2021-02-28 10587349 c:FullAccounts 2020-03-01 2021-02-28 10587349 c:PrivateLimitedCompanyLtd 2020-03-01 2021-02-28 10587349 2 2020-03-01 2021-02-28 10587349 6 2020-03-01 2021-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10587349

HARRISON DESIGN GROUP LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

HARRISON DESIGN GROUP LIMITED

REGISTERED NUMBER: 10587349

STATEMENT OF FINANCIAL POSITION

AS AT 28 FEBRUARY 2021

	28 February	29 February
	2021	2020
Note	£	£

Fixed assets
Investments	4		386,804		386,804
			386,804		386,804
Current assets
Debtors: amounts falling due within one year	5	310,822		239,431
		310,822		239,431
Creditors: amounts falling due within one year	6	(539,256)		(466,385)
Net current liabilities			(228,434)		(226,954)
Total assets less current liabilities			158,370		159,850

Net assets			158,370		159,850

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		158,270	159,750
		158,370	159,850

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HARRISON DESIGN GROUP LIMITED

REGISTERED NUMBER: 10587349

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 28 FEBRUARY 2021

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 income and retained earnings 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 on 2 December 2021.

Philip Harrison

Director

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

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HARRISON DESIGN GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

1.	General information

The company is registered in England and Wales. The company's registered office is 15 Coleshill Street, Sutton Coldfield, West Midlands, B72 1SD. The company was incorporated on 27 January 2017 and it's principal activity is that of an investment holding company.

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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.3

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.

2.4

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 reporting date in the countries where the Company operates and generates income.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.6

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.

2.7

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.

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HARRISON DESIGN GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

2.Accounting policies (continued)

2.8

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.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 4).

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HARRISON DESIGN GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

4.	Fixed asset investments

		Other fixed asset investments
		£
	Cost or valuation
	At 1 March 2020	386,804
	At 28 February 2021	386,804

Debtors

					28 February	29 February
					2021	2020
					£	£


Other debtors	310,822	239,431
	310,822	239,431

Amounts owed to group undertakings	488,569	439,102
Corporation tax	42,247	793
Other creditors	8,440	26,490
	539,256	466,385

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HARRISON DESIGN GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

Allotted, called up and fully paid

2,000 (2020 - 2,000) B Ordinary shares of £0.01 each	20.00	20.00
2,000 (2020 - 2,000) C Ordinary shares of £0.01 each	20.00	20.00
2,000 (2020 - 2,000) D Ordinary shares of £0.01 each	20.00	20.00
350 (2020 - 350) A Ordinary shares of £0.01 each	3.50	3.50
1,500 (2020 - 1,500) E Ordinary shares of £0.01 each	15.00	15.00
1,050 (2020 - 1,050) F Ordinary shares of £0.01 each	10.50	10.50
600 (2020 - 600) G Ordinary shares of £0.01 each	6.00	6.00
500 (2020 - 500) H Ordinary shares of £0.01 each	5.00	5.00

	100.00	100.00

8.	Transactions with directors

At the reporting date an amount of £237,083 was repayable the directors of the company (2020: £235,281). In year advances of £68,427 were made by the company and £66,625 received, including interest of £5,390.

9.	Related party transactions
	At the reporting date an amount of £6,181 (2020: £38) was repayable to Directors of the company. The amount advanced was interest free and repayable on demand. The company has taken advantage of the exemption contained within paragraph 33.1A of Financial Reporting Standard 102 and has not disclosed transactions with other group members.

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