| Harbour Innovations Limited |
| Registered number: |
06266691 |
| Abbreviated Balance Sheet |
| as at 31 December 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
2,200 |
|
|
- |
|
| Current assets |
| Debtors |
|
|
174,756 |
|
|
296,482 |
| Cash at bank and in hand |
|
|
111,941 |
|
|
- |
|
|
|
286,697 |
|
|
296,482 |
|
| Creditors: amounts falling due within one year |
|
|
(195,635) |
|
|
(165,694) |
|
| Net current assets |
|
|
|
91,062 |
|
|
130,788 |
|
| Net assets |
|
|
|
93,262 |
|
|
130,788 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
93,260 |
|
|
130,786 |
|
| Shareholders' funds |
|
|
|
93,262 |
|
|
130,788 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| A R Watts |
| Director |
|
| Approved by the board on 21 September 2016 |
|
| Harbour Innovations Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the sales value of work done by the company, net of value added tax. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Equipment |
written off over 3 years |
|
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Contract work in progress |
|
The net realisable value of contract work in progress, which includes attributable profit on contracts and is determined on the basis of measured work to the balance sheet date, is included in the debtors as amounts recoverable on contracts. Any unmeasured work carried out to the balance sheet date is included at the lower of cost and net realisable value under stocks, as work in progress. Cost in relation to contract work in progress is direct costs and proportionate overhead expenses. Deductions are made for net foreseeable losses and progress payments received.
This policy is applied irrespective of the length of the contract since, in the opinion of the directors, it is inappropriate to adopt a seperate accounting policy for short term contracts.
Payments received in excess of net realisable value on a contract are included in trade creditors. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2015 |
7,728 |
|
Additions |
3,300 |
|
At 31 December 2015 |
11,028 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2015 |
7,728 |
|
Charge for the year |
1,100 |
|
At 31 December 2015 |
8,828 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2015 |
2,200 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
