Harvest Moon Holidays Ltd. - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: SC390169 (Scotland)

Harvest Moon Holidays Ltd.

Financial Statements

for the Year Ended 31st December 2016

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

7

Directors:

M Dale

A Mitchell

M Mitchell

R Mitchell

Secretary:

M Dale

Registered office:

Lochhouses

Tyninghame

Dunbar

East Lothian

EH42 1XP

Registered number:

SC390169 (Scotland)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Tangible assets

4

131,004

91,741

Current assets

Stocks

300

300

Debtors

5

13,054

7,856

Cash at bank and in hand

66,973

56,968

80,327

65,124

Creditors

Amounts falling due within one year

6

67,769

49,108

Net current assets

12,558

16,016

Total assets less current liabilities

143,562

107,757

Provisions for liabilities

17,433

8,960

Net assets

126,129

98,797

Capital and reserves

Called up share capital

3

3

Retained earnings

126,126

98,794

Shareholders' funds

126,129

98,797

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19th June 2017 and were signed on its behalf by:

A Mitchell - Director

M Dale - Director

1.	Statutory information

Harvest Moon Holidays Ltd. is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out

below.

The financial statements for the year ended 31st December 2016 are the first financial statements that

comply with FRS102 Section 1A for small entities. The date of transition is 1st January 2015.

There has been no impact to the financial statements on the transition date.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the

year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of

ownership have passed to the buyer. Turnover arising from the provision of services is recognised as

contract activity progresses and the right to consideration is earned. Unbilled turnover is included in

debtors as amounts recoverable on contracts.

Tangible fixed assets

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

Property improvements

-

10% on cost

Fixtures, fittings and equipment

-

10% on cost

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment

losses.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and

appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated

selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments

The following assets and liabilities are classified as financial instruments - Trade debtors, trade

creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate

of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the

undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss

is recognised in the Income Statement.

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 2 .

4.	Tangible fixed assets

Fixtures,

fittings

Property

and

Motor

Office

improvements

equipment

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1st January 2016

4,200

145,016

9,000

434

158,650

Additions

4,167

56,369

-

1,011

61,547

At 31st December 2016

8,367

201,385

9,000

1,445

220,197

Depreciation

At 1st January 2016

2,100

59,438

5,204

167

66,909

Charge for year

837

20,137

949

361

22,284

At 31st December 2016

2,937

79,575

6,153

528

89,193

Net book value

At 31st December 2016

5,430

121,810

2,847

917

131,004

At 31st December 2015

2,100

85,578

3,796

267

91,741

5.

Debtors: amounts falling due within one year

2016

2015

£

£

Other debtors

13,054

7,856

6.

Creditors: amounts falling due within one year

2016

2015

£

£

Trade creditors

1,533

706

Taxation and social security

3,635

20,500

Other creditors

62,601

27,902

67,769

49,108

7.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended

31st December 2016 and 31st December 2015:

2016

2015

£

£

A Mitchell

Balance outstanding at start of year

6,314

-

Amounts advanced

14,274

149,050

Amounts repaid

(10,100

)

(142,736

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,488

6,314

This loan is unsecured, interest has been charged at the rates published by HMRC and is repayable on

demand.

8.	Post balance sheet events

Since the year end, on 30th May 2017, an interim dividend for the year ending 31st December 2017 of

£3,550 per share has been declared.