Harcom Holdings Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01874869

HARCOM HOLDINGS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTOR:

M P Harris

SECRETARY:

Mrs J F Harris

REGISTERED OFFICE:

1 Abacus House

Newlands Road

Corsham

Wiltshire

SN13 0BH

REGISTERED NUMBER:

01874869

ACCOUNTANTS:

Clear Vision Accountancy Limited

1 Abacus House

Newlands Road

Corsham

Wiltshire

SN13 0BH

BANKERS:

HSBC Bank Plc

45 Milson Street

Bath

BA1 1DU

FIXED ASSETS

Tangible assets

2

1,811

2,582

Investments

3

102

Investment property

4

1,040,000

1,041,913

1,042,684

CURRENT ASSETS

Debtors

706,929

687,573

Cash at bank

813

2,759

707,742

690,332

CREDITORS

Amounts falling due within one year

5

566,258

516,420

NET CURRENT ASSETS

141,484

173,912

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,183,397

1,216,596

CREDITORS

Amounts falling due after more than one year

5

(518,491

)

(521,839

)

PROVISIONS FOR LIABILITIES

(362

)

(517

)

NET ASSETS

664,544

694,240

CAPITAL AND RESERVES

Called up share capital

6

1,000

Revaluation reserve

548,296

Profit and loss account

115,248

144,944

SHAREHOLDERS' FUNDS

664,544

694,240

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 19 August 2016 and were signed by:

M P Harris - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of

certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Harcom Holdings Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under Section

398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value

Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 20% on cost and 15% on cost

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the annual

revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual

investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the

year.

This is in accordance with the FRSSE which, unlike the Companies Act 2006, does not require depreciation of the

investment properties. Investment properties are held for their investment potential and not for use by the company

and so their current value is of prime importance. The departure from the provisions of the Act is required in order to

give a true and fair view.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the

lessor are charged against profits on a straight line basis over the period of the lease.

Going concern

The director has assessed whether the company is a going concern and has considered all available information about

the future and is confident of the company's ability to continue as a going concern.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

and 31 January 2016

15,069

DEPRECIATION

At 1 February 2015

12,487

Charge for year

771

At 31 January 2016

13,258

NET BOOK VALUE

At 31 January 2016

1,811

At 31 January 2015

2,582

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 February 2015

and 31 January 2016

102

NET BOOK VALUE

At 31 January 2016

102

At 31 January 2015

102

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Harcom Overseas Limited

Nature of business: Provision of professional services in Indonesia

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

(679,694

)

(626,002

)

Loss for the year

(23,593

)

(53,692

)

Harcom Properties Limited

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

100

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 February 2015

and 31 January 2016

1,040,000

NET BOOK VALUE

At 31 January 2016

1,040,000

At 31 January 2015

1,040,000

5.

CREDITORS

Creditors include an amount of £ 521,773 (2015 - £ 525,055 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable otherwise than by instalments

500,000

Repayable by instalments

18,491

21,839

518,491

521,839

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within creditors is £344,555 (2015 - £327,629) in respect of a loan from M P Harris, director.

During the year dividends of £30,000 were voted to the director, M P Harris.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Harcom Holdings Limited for the year ended 31 January 2016 which comprise the Profit and Loss Account,

the Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Harcom Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Harcom Holdings Limited and state those matters that we have agreed to state to the director of Harcom Holdings Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Harcom Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Harcom Holdings Limited. You consider that Harcom Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Harcom Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Clear Vision Accountancy Limited

1 Abacus House

Newlands Road

Corsham

Wiltshire

SN13 0BH

23 August 2016