Harbour Key Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07483339 (England and Wales)

Financial Statements

for the Year Ended 31 March 2021

for

Harbour Key Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

P J Mitchell

H M Hannis

SECRETARY:

P J Mitchell

REGISTERED OFFICE:

Midway House, Herrick Way

Staverton Technology Park

Staverton

Cheltenham

Gloucestershire

GL51 6TQ

REGISTERED NUMBER:

07483339 (England and Wales)

ACCOUNTANTS:

GCSD Accountants Limited

Chartered Accountants

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Harbour Key Limited for the year ended 31 March 2021 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Harbour Key Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Harbour Key Limited and state those matters that we have agreed to state to the Board of Directors of Harbour Key Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Harbour Key Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Harbour Key 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 Harbour Key Limited. You consider that Harbour Key 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 Harbour Key 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.

GCSD Accountants Limited

Chartered Accountants

10 November 2021

FIXED ASSETS

Intangible assets

4

154,583

166,473

Tangible assets

5

8,146

9,231

162,729

175,704

CURRENT ASSETS

Stocks

25,533

-

Debtors

6

148,368

155,933

Cash at bank

144,094

67,230

317,995

223,163

CREDITORS

Amounts falling due within one year

7

175,215

102,542

NET CURRENT ASSETS

142,780

120,621

TOTAL ASSETS LESS CURRENT LIABILITIES

305,509

296,325

CAPITAL AND RESERVES

Called up share capital

160,000

160,000

Capital redemption reserve

80,040

80,040

Retained earnings

65,469

56,285

SHAREHOLDERS' FUNDS

305,509

296,325

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2021 and were signed on its behalf by:

H M Hannis - Director

1.	STATUTORY INFORMATION

Harbour Key Limited is a private company, limited by shares , registered in England and Wales. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Computer equipment

-

25% on cost

Government grants

The Small Business Grant has been recognised as income in the period in which it becomes receivable.

Coronavirus Job Retention Scheme Grants have been recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 10 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

237,848

AMORTISATION

At 1 April 2020

71,375

Charge for year

11,890

At 31 March 2021

83,265

NET BOOK VALUE

At 31 March 2021

154,583

At 31 March 2020

166,473

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

13,655

Additions

1,124

At 31 March 2021

14,779

DEPRECIATION

At 1 April 2020

4,424

Charge for year

2,209

At 31 March 2021

6,633

NET BOOK VALUE

At 31 March 2021

8,146

At 31 March 2020

9,231

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

84,965

73,570

Other debtors

63,403

82,363

148,368

155,933

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

50,001

-

Trade creditors

4,107

28,092

Taxation and social security

103,650

63,165

Other creditors

17,457

11,285

175,215

102,542