Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-3022020-12-01falsetrueNo description of principal activity2falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09854445 2020-12-01 2021-11-30 09854445 2019-12-01 2020-11-30 09854445 2021-11-30 09854445 2020-11-30 09854445 c:Director1 2020-12-01 2021-11-30 09854445 c:Director2 2020-12-01 2021-11-30 09854445 d:CurrentFinancialInstruments 2021-11-30 09854445 d:CurrentFinancialInstruments 2020-11-30 09854445 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 09854445 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 09854445 d:ShareCapital 2021-11-30 09854445 d:ShareCapital 2020-11-30 09854445 d:RetainedEarningsAccumulatedLosses 2021-11-30 09854445 d:RetainedEarningsAccumulatedLosses 2020-11-30 09854445 c:FRS102 2020-12-01 2021-11-30 09854445 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 09854445 c:FullAccounts 2020-12-01 2021-11-30 09854445 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 iso4217:GBP xbrli:pure
Registered number: 09854445














HENWOOD TWENTY THREE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2021

 
HENWOOD TWENTY THREE LIMITED
REGISTERED NUMBER:09854445

BALANCE SHEET
AS AT 30 NOVEMBER 2021

2021
2020
£
£

  

Current assets
  

Stocks
 4 
633,900
672,198

Debtors: amounts falling due within one year
 5 
-
1,955

Cash at bank and in hand
 6 
414
25,056

  
634,314
699,209

Creditors: amounts falling due within one year
 7 
(576,011)
(640,323)

Net current assets
  
 
 
58,303
 
 
58,886

Total assets less current liabilities
  
58,303
58,886

  

Net assets
  
£58,303
£58,886


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
58,301
58,884

  
£58,303
£58,886


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 July 2022.




................................................
Mr B G Bushell
................................................
Mr A E Carrington
Director
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
HENWOOD TWENTY THREE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

Henwood Twenty Three Limited is a private limited company incorporated in England & Wales.
The registered office is Midland House, 98 Cheriton Road, Folkestone, Kent, CT20 2QH.
The company registration number is 09854445

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 2

 
HENWOOD TWENTY THREE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

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 insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and 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 Statement of income and retained earnings.

Page 3

 
HENWOOD TWENTY THREE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2021
        2020
            No.
            No.







Management
2
2


4.


Stocks

2021
2020
£
£

Vehicle stock
633,900
672,198

£633,900
£672,198



5.


Debtors

2021
2020
£
£


Other debtors
-
1,955

£-
£1,955



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
413
25,055

£413
£25,055



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
-
1,281

Other taxation and social security
1,969
-

Other creditors
573,292
638,292

Accruals and deferred income
750
750

£576,011
£640,323


Page 4

 
HENWOOD TWENTY THREE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

8.


Related party transactions

During the year the company continued to be provided working capital funding totalling £345,756 (2020: £425,756) from Mr B G Bushell a director and shareholder of the company.
During the year the company continued to be provided working capital funding totalling £137,499 (2020: £137,499) from  Mr A E Carrington a director and shareholder of the company.
During the year the company incurred costs of £24,503 (2020: £10,150) from Alan Carrington Classic Cars Limited. At the balance sheet date the company owed Alan Carrington Classic Cars Limited £90,036 (2020: £75,036). Mr A E Carrington is director and shareholder of both companies.

Page 5