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Unaudited Financial Statements for the Year Ended 28 February 2018 |
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HARRIS INSTALLATION SERVICES LTD |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2018 |
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for |
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HARRIS INSTALLATION SERVICES LTD |
HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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HARRIS INSTALLATION SERVICES LTD |
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Company Information |
for the Year Ended 28 February 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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14 Broadway |
Rainham |
Essex |
RM13 9YW |
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BANKERS: |
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PO Box 10102 |
21 Prescot Street |
London |
E1 8TN |
HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Balance Sheet |
28 February 2018 |
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28.2.18 | 28.2.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 11 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Balance Sheet - continued |
28 February 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2018 |
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1. | STATUTORY INFORMATION |
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Harris Installation Services Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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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. |
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Tangible fixed assets |
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Short leasehold | - |
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Plant and machinery | - |
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Furniture and Equipment | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Work in progress un-billed at the year end has been taken to turnover, the amount due being included in trade |
debtors. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
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The company directly contributes to individual defined contribution personal pension schemes of employees. |
The assets of these schemes are held separately from those of the company in separately administered funds. |
Contributions payable for the year are charged in the profit and loss account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 March 2017 |
and 28 February 2018 |
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AMORTISATION |
At 1 March 2017 |
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Charge for year |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 March 2017 |
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Additions |
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Disposals |
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At 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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Eliminated on disposal |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as |
follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 March 2017 |
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Additions |
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Disposals | ( |
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At 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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6. | DEBTORS |
28.2.18 | 28.2.17 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Hire purchase contracts and finance leases
(see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Hire purchase contracts and finance leases
(see note 9) |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts | Finance leases |
28.2.18 | 28.2.17 | 28.2.18 | 28.2.17 |
£ | £ | £ | £ |
Gross obligations repayable: |
Within one year |
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Between one and five years |
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Finance charges repayable: |
Within one year |
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Between one and five years |
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Net obligations repayable: |
Within one year |
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Between one and five years |
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HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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9. | LEASING AGREEMENTS - continued |
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Non-cancellable |
operating leases |
28.2.18 | 28.2.17 |
£ | £ |
Within one year |
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Between one and five years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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28.2.18 | 28.2.17 |
£ | £ |
Hire purchase contracts and finance leases | 177,586 | 231,595 |
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The debts are secured on the specific vehicles/plant held under finance leases/HP agreements. |
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11. | PROVISIONS FOR LIABILITIES |
28.2.18 | 28.2.17 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Tax losses carried forward |
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41,098 | 17,894 |
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Deferred |
tax |
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Balance at 1 March 2017 |
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Provided during year |
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Utilised during year |
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Balance at 28 February 2018 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.18 | 28.2.17 |
value: | £ | £ |
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Ordinary | £1 |
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13. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £36,000 (2017 - £64,000) were paid to the director . |
HARRIS INSTALLATION SERVICES LTD (REGISTERED NUMBER: 04665965) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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14. | ULTIMATE CONTROLLING PARTY |
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The controlling party is P W Harris. |