Harris Finance Co. Ltd. - Accounts to registrar (filleted) - small 18.2
Harris Finance Co. Ltd. - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
FOR |
HARRIS FINANCE CO. LTD. |
HARRIS FINANCE CO. LTD. (REGISTERED NUMBER: SC131349) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HARRIS FINANCE CO. LTD. |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
6th Floor |
Gordon Chambers |
90 Mitchell Street |
Glasgow |
Lanarkshire |
G1 3NQ |
BANKERS: |
158a Fenwick Road |
Giffnock |
Glasgow |
G46 6XB |
SOLICITORS: |
110 Queen Street |
Glasgow |
G2 1BX |
HARRIS FINANCE CO. LTD. (REGISTERED NUMBER: SC131349) |
BALANCE SHEET |
30 APRIL 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HARRIS FINANCE CO. LTD. (REGISTERED NUMBER: SC131349) |
BALANCE SHEET - continued |
30 APRIL 2018 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors on signed on its behalf by: |
HARRIS FINANCE CO. LTD. (REGISTERED NUMBER: SC131349) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
1. | STATUTORY INFORMATION |
Harris Finance Co. Ltd. is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing 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 interest charged on loans. Interest is recognised using the effective interest rate method in |
accordance with the loan repayment profiles. The other element of payments received from customers is |
allocated to reduce loan debtors and represents the capital element of loan repayments. |
Tangible fixed assets |
Tangible fixed assets are initially recorded at cost. |
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life. |
Fixture & fittings | - 20% reducing balance basis |
Computer equipment | - 33% on a straight line basis |
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 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. |
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 |
HARRIS FINANCE CO. LTD. (REGISTERED NUMBER: SC131349) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2017 |
and 30 April 2018 |
DEPRECIATION |
At 1 May 2017 |
Charge for year |
At 30 April 2018 |
NET BOOK VALUE |
At 30 April 2018 |
At 30 April 2017 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Loan debtors |
Amounts owed by group undertakings |
Included within loan debtors is £1,134,772 (2016 : £1,481,443) repayable in more than one year. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed to group undertakings |
Current corporation tax |
Other creditors |
Directors' current accounts | 76,018 | 206,204 |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Directors' current accounts | - | 300,000 |
The pension scheme loan (other loans) was repaid during the year. |
HARRIS FINANCE CO. LTD. (REGISTERED NUMBER: SC131349) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £1 | 75,000 | 75,000 |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is R Harris. |
The ultimate controlling party is |