Accounts filed on 31-05-2021

Accounts filed on 31-05-2021

HARVARD LTD - Company Information

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Registered number: 11343274
Harvard Limited
ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2021
Prepared By:
Willow Accounting & Consultancy
Chartered Certified Accountants
47a Commercial Road
Poole
Dorset
BH14 0HU
Harvard Limited
ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2021
DIRECTORS
Luke Rayner
REGISTERED OFFICE
2-4 Acland Road
Charminster
Bournemouth
Dorset
BH9 1JJ
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 11343274
ACCOUNTANTS
Willow Accounting & Consultancy
Chartered Certified Accountants
47a Commercial Road
Poole
Dorset
BH14 0HU
Harvard Limited
ACCOUNTS
FOR THEYEARENDED31 MAY 2021
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Harvard Limited
BALANCE SHEET AT 31 May 2021
20212020
Notes££
FIXED ASSETS
Intangible assets3189,047211,287
Tangible assets440,47953,707
229,526264,994
CURRENT ASSETS
Debtors587,71369,219
Cash at bank and in hand55,76836,212
143,481105,431
CREDITORS: Amounts falling due within one year6381,697357,736
NET CURRENT LIABILITIES(238,216)(252,305)
TOTAL ASSETS LESS CURRENT LIABILITIES(8,690)12,689
CREDITORS: Amounts falling due after more than one year740,00050,000
NET LIABILITIES(48,690)(37,311)
CAPITAL AND RESERVES
Called up share capital811
Profit and loss account(48,691)(37,312)
SHAREHOLDERS' FUNDS(48,690)(37,311)
For the year ending 31 May 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 28 February 2022 and signed on their behalf by
.............................
Luke Rayner
Director
Harvard Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2021
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Commercial Vehicles 25%
Fixtures and Fittings 15%
Equipment 25%
Motor Cars 25%
1c. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 10 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
1d. Government Grants
Government grants are recognised in profit and loss in the year in which they are received.
2. EMPLOYEES
20212020
No.No.
Average number of employees64
Harvard Limited
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 1 June 2020222,407222,407
At 31 May 2021222,407222,407
Depreciation
At 1 June 202011,12011,120
For the year22,24022,240
At 31 May 202133,36033,360
Net Book Amounts
At 31 May 2021189,047189,047
At 31 May 2020211,287211,287
4. TANGIBLE FIXED ASSETS
CommercialFixtures
Vehiclesand FittingsEquipmentMotor CarsTotal
£££££
Cost
At 1 June 202066,2903848374,14771,658
Additions15,900194--16,094
Disposals(15,900)---(15,900)
At 31 May 202166,2905788374,14771,852
Depreciation
At 1 June 202016,572582841,03717,951
For the year12,4297813877713,422
At 31 May 202129,0011364221,81431,373
Net Book Amounts
At 31 May 202137,2894424152,33340,479
At 31 May 202049,7183265533,11053,707
5. DEBTORS 20212020
££
Amounts falling due within one year
Trade debtors28,67132,851
Other debtors8,49313,956
Amounts due from connected companies48,49118,046
Prepayments2,058-
Directors current account-4,366
87,71369,219
Harvard Limited
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20212020
££
UK corporation tax679679
VAT11,47010,746
PAYE control19,6465,577
Salaries and wages control4,6052,891
Pension control200194
Directors current account18,794-
Bank loans and overdrafts-1
Deferred payment for goodwill172,345208,302
Bank loans (unsecured)10,000-
Trade creditors8,6783,733
Franchisee control account11,15919,138
Accruals3,6652,406
Amounts due to connected companies120,456104,069
381,697357,736
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20212020
££
Bank loans (unsecured)40,00050,000
40,00050,000
Bank loans repayable within 2 to 5 years: £40,000.
8. SHARE CAPITAL 20212020
££
Allotted, issued and fully paid:
100 Ordinary shares of £0.01 each11
11
9. RELATED PARTY TRANSACTIONS
Included in both debtors and creditors are balances due from and to companies in which the director has significant influence.
Harvard Limited
10. PRIOR YEAR ADJUSTMENT
A transaction originating in 2019 has not been correctly reflected in prior year financial statements. Purchased goodwill of £222,407, amortisation of £11,120 and associated liabilities of £209,085 have been recognised in the balance sheet in the comparative figures. Retained earning have been revised to include £2,202 arising from these adjustments.