REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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HAYLE HARBOUR AUTHORITY OPERATIONS |
LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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FOR |
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HAYLE HARBOUR AUTHORITY OPERATIONS |
LIMITED |
HAYLE HARBOUR AUTHORITY OPERATIONS |
LIMITED (REGISTERED NUMBER: 09512806) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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HAYLE HARBOUR AUTHORITY OPERATIONS |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Riverside House |
40-46 High Street |
Maidstone |
Kent |
ME14 1JH |
HAYLE HARBOUR AUTHORITY OPERATIONS |
LIMITED (REGISTERED NUMBER: 09512806) |
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BALANCE SHEET |
28 FEBRUARY 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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HAYLE HARBOUR AUTHORITY OPERATIONS |
LIMITED (REGISTERED NUMBER: 09512806) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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1. | STATUTORY INFORMATION |
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Hayle Harbour Authority Operations Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statement. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves and cash balances. |
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Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
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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. |
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Turnover |
Income is recognised in the accounting period in which the company obtains the right to consideration in exchange for it's performance. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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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. |
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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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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. |
HAYLE HARBOUR AUTHORITY OPERATIONS |
LIMITED (REGISTERED NUMBER: 09512806) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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Creditors |
Short term creditors are measured at the transaction price. |
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Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
- the requirements of Section 7 Statement of Cash Flows; |
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d); |
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A; |
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29; |
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23; |
- the requirements of Section 33 Related Party Disclosures paragraph 33.7. |
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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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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 March 2021 |
and 28 February 2022 |
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DEPRECIATION |
At 1 March 2021 |
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Charge for year |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 28 February 2021 |
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HAYLE HARBOUR AUTHORITY OPERATIONS |
LIMITED (REGISTERED NUMBER: 09512806) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Tax |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Corporation tax |
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VAT | 6,083 | 667 |
Other creditors |
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Accruals and deferred income |
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7. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 1,743 | 1,976 |
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Deferred |
tax |
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Balance at 1 March 2021 |
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Utilised during year | ( |
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Balance at 28 February 2022 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | £1 | 200 | 200 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 March 2021 |
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Deficit for the year | ( |
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At 28 February 2022 |
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HAYLE HARBOUR AUTHORITY OPERATIONS |
LIMITED (REGISTERED NUMBER: 09512806) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2022 |
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10. | RELATED PARTY DISCLOSURES |
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Corinthian Access Limited |
A company under common control |
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During the year, Hayle Harbour Authority Operations Limited paid £13,700 (2021: £600) of expenses on behalf of Corinthian Access Limited. At the balance sheet date, the amount due from Corinthian Access Limited was £35,300 (2021: £21,600). |
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Corinthian Plant Limited |
A company under common control |
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During the year, Hayle Harbour Authority Operations Limited paid £42,822 (2021: £33,628) of expenses on behalf of Corinthian Plant Limited and made purchases from Corinthian Plant Ltd of £39,819 (2021: £29,472) At the balance sheet date, the amount due from Corinthian Plant Limited was £80,230 (2021: £37,408) included in other debtors and £2,035 (2021: £NIL) included in trade creditors. |
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Sennybridge Limited |
A company under common control |
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During the year, Hayle Harbour Authority Operations Limited paid £10,000 (2021: £5,003) to Sennybridge Limited for management charges. |
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During the year, Hayle Harbour Authority Operations Limited paid £331,125 (2021: £216,275) of expenses on behalf of Sennybridge Limited and made purchases from Sennybridge Ltd of £634,858 (2021: £NIL). At the balance sheet date the amount due from Sennybridge Limited was £372,768 (2021: £41,643) included in other debtors and £390,233 (2021: £NIL) included in trade creditors. |
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11. | ULTIMATE CONTROLLING PARTY |
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The immediate controlling party is Hayle Holding Limited. The directors consider Simon Wright to be the ultimate controlling party. |