Harlow Property Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07027593 (England and Wales)

Harlow Property Management Limited

Financial Statements

for the Year Ended 31 December 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms J R Fletcher OBE

Mr J R Craven

Mr N Smillie

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

07027593 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

CURRENT ASSETS

Stocks

20,000

20,000

Debtors

5

343,587

128,628

Cash at bank

116,604

175,322

480,191

323,950

CREDITORS

Amounts falling due within one year

6

323,807

206,750

NET CURRENT ASSETS

156,384

117,200

TOTAL ASSETS LESS CURRENT LIABILITIES

156,384

117,200

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

156,382

117,198

SHAREHOLDERS' FUNDS

156,384

117,200

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 26 April 2022 and were signed on its behalf by:

Mr J R Craven - Director

1.	STATUTORY INFORMATION

Harlow Property Management Limited is a private limited company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company's principal place of business is Bowcliffe Grange, Bowcliffe Hall, Bramham, Wetherby, West Yorkshire, LS23 6LP.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2.	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 relates to income generated in respect of property management, agency fees and rental income in respect of any syndicate investments held in stock for resale. 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.

Computer equipment

-

33% on cost

Fixed assets are initially recorded at cost.

Stocks

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities ae offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2021

and 31 December 2021

1,875

DEPRECIATION

At 1 January 2021

and 31 December 2021

1,875

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

48,200

61,395

Amounts owed by related undertakings

140,000

-

Other debtors

37,121

20,982

Directors' current accounts

111,405

39,719

VAT

-

2,033

Prepayments and accrued income

6,861

4,499

343,587

128,628

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

42,110

31,090

Tax

26,095

21,461

VAT

18,440

-

Other creditors

4,716

4,716

Directors' current accounts

32,500

-

Accruals and deferred income

199,946

149,483

323,807

206,750

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

2

Ordinary

£1

2

2

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021

2020

£

£

Mr J R Craven

Balance outstanding at start of year

39,719

30,906

Amounts advanced

104,186

58,813

Amounts repaid

(32,500

)

(50,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

111,405

39,719

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £32,500 were paid to the directors .