Harrison Morgan Limited - Accounts to registrar (filleted) - small 23.1.2

Harrison Morgan Limited - Accounts to registrar (filleted) - small 23.1.2

HARRISON MORGAN LIMITED - Company Information

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REGISTERED NUMBER: 09503488 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

HARRISON MORGAN LIMITED
TRADING AS
HELM
HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARRISON MORGAN LIMITED
TRADING AS HELM

COMPANY INFORMATION
for the Year Ended 30 November 2022







DIRECTORS: S Morgan
P Harrison





REGISTERED OFFICE: 10 London Mews
Paddington
LONDON
W2 1HY





REGISTERED NUMBER: 09503488 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY
Page 1
HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

BALANCE SHEET
30 November 2022

30.11.22 30.11.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,391 23,274

CURRENT ASSETS
Debtors 5 2,599,381 1,055,066
Cash at bank 312,615 146,097
2,911,996 1,201,163
CREDITORS
Amounts falling due within one year 6 2,966,738 1,166,206
NET CURRENT (LIABILITIES)/ASSETS (54,742 ) 34,957
TOTAL ASSETS LESS CURRENT
LIABILITIES
(21,351
)
58,231

CREDITORS
Amounts falling due after more than one
year
7
(25,780
)
(35,652
)

PROVISIONS FOR LIABILITIES (6,344 ) -
NET (LIABILITIES)/ASSETS (53,475 ) 22,579

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings (83,475 ) (7,421 )
SHAREHOLDERS' FUNDS (53,475 ) 22,579

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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 notes form part of these financial statements

Page 2 continued...
HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

BALANCE SHEET - continued
30 November 2022


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 12 June 2023 and were signed on its behalf by:




S Morgan - Director



P Harrison - Director


The notes form part of these financial statements

Page 3
HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2022

1. STATUTORY INFORMATION

Harrison Morgan Limited is a private 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.

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.

Going Concern
The accounts have been prepared on the going concern basis. The directors consider that there are no material uncertainties regarding the company's ability to continue in operational existence for the foreseeable future, which is deemed to be 12 months from the date of approval of the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net commission receivable, excluding value added tax. Commission arises on the brokering of yachting holidays and is recognised on a date of travel basis. All commission on holidays with a date of travel within the year is recognised in full.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33.33% straight line
Website & Computer equipmt - 33.33% straight line

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

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.

Government grants
Grants are accounted for under the accruals method of accounting.

Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors and other creditors.

The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost.

Taxation
Taxation for the year comprises current tax 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 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.

Page 4 continued...
HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2022

2. ACCOUNTING POLICIES - continued

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company contributes to a work place pension scheme. Contributions payable to the scheme are charged to the profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2021 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures Website &
and Computer
fittings equipmt Totals
£    £    £   
COST
At 1 December 2021 5,450 124,637 130,087
Additions 1,345 40,547 41,892
At 30 November 2022 6,795 165,184 171,979
DEPRECIATION
At 1 December 2021 5,308 101,505 106,813
Charge for year 580 31,195 31,775
At 30 November 2022 5,888 132,700 138,588
NET BOOK VALUE
At 30 November 2022 907 32,484 33,391
At 30 November 2021 142 23,132 23,274

Page 5 continued...
HARRISON MORGAN LIMITED (REGISTERED NUMBER: 09503488)
TRADING AS HELM

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Trade debtors 2,430,437 935,468
Amounts owed by group undertakings 1,710 107,003
Other debtors 167,234 12,595
2,599,381 1,055,066

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Bank loans and overdrafts 9,907 12,163
Trade creditors 2,430,313 938,053
Taxation and social security - 629
Other creditors 526,518 215,361
2,966,738 1,166,206

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.22 30.11.21
£    £   
Bank loans 25,780 35,652

8. CONTINGENT LIABILITIES

In the period ended 31 August 2016 the company entered into a reserve agreement with Braintree. As part of the agreement the company agreed to pay a sum to be held as credit security. As at 30 November 2022 the total held was £nil (2021:£24,172.85).

9. GRANTS

In the prior period the company received Job Retention Scheme grant monies in the sum of £15,064.

10. RELATED PARTY DISCLOSURES

During the year the directors repaid the brought forward loan balance of £2,500 owed to the company. As at 30 November 2022 no monies were owed by the directors to the company, or by the company to the directors. The balance as at 30 November 2021 was included within Other debtors.

11. LENGTH OF PRIOR PERIOD ACCOUNTING PERIOD

In the prior period, the year end of the company was extended from 31 August to 30 November to be coterminous with its parent company. The comparative figures on these accounts are therefore for the 15 month period to 30 November 2021.

Page 6