Harmony Homes Development Services Limit - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08532391 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2022 TO 29 APRIL 2023

FOR

HARMONY HOMES DEVELOPMENT SERVICES

LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

to

4

CURRENT ASSETS

Debtors

4

4

827

Cash at bank

1,216

49

1,220

876

CREDITORS

Amounts falling due within one year

5

(16,843

)

(12,404

)

NET CURRENT LIABILITIES

(15,623

)

(11,528

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(15,623

)

(11,528

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(15,627

)

(11,532

)

(15,623

)

(11,528

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 April 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 April 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2024 and were signed on its behalf by:

S W Compton - Director

1.	STATUTORY INFORMATION

Harmony Homes Development Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08532391

Registered office:

C/o DPC Accountants

Stone House

55 Stone Road Business Park

Stoke on Trent

Staffordshire

ST4 6SR

The principal activity of the company is that of a project finance provider.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Estimated useful lives and residual values of fixed assets

Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

REVENUE RECOGNITION

Turnover represents income receivable for services provided and is shown net of any Value Added Tax.

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

GOING CONCERN

The accounts have been prepared on the going concern basis, see later note of the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.4.23

30.4.22

£

£

Other debtors

4

827

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.4.23

30.4.22

£

£

Taxation and social security

20

1,493

Other creditors

16,823

10,911

16,843

12,404

Amounts due to connected companies are unsecured, interest free and are repayable on demand.

6.	GOING CONCERN

The accounts have been prepared on the going concern basis. The directors believe this to be appropriate as they have expressed their willingness to support the business for the foreseeable future.

7.	EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.