Company registration number:
09862585
Michaela Henshaw Limited
Unaudited filleted financial statements
30 November 2021
Michaela Henshaw Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Michaela Henshaw Limited
Directors and other information
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Director |
Mrs Michaela Hancox |
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Company number |
09862585 |
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Registered office |
14 Highfield Avenue |
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Harpenden |
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Hertfordshire |
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AL5 5UA |
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Accountants |
Hicks and Company |
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Chartered Accountants |
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Vaughan Chambers |
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Vaughan Road |
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Harpenden |
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Hertfordshire |
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Al5 4EE |
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Michaela Henshaw Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Michaela Henshaw Limited
Year ended 30 November 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Michaela Henshaw Limited for the year ended 30 November 2021 which comprise the statement of financial position and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Michaela Henshaw Limited, as a body, in accordance with the terms of our engagement letter dated 23 July 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Michaela Henshaw Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Michaela Henshaw Limited and its director as a body for our work or for this report.
It is your duty to ensure that Michaela Henshaw 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 Michaela Henshaw Limited. You consider that Michaela Henshaw 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 Michaela Henshaw 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.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
Al5 4EE
1 August 2022
Michaela Henshaw Limited
Statement of financial position
30 November 2021
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2021 |
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2020 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
2,613 |
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3,364 |
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_______ |
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_______ |
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2,613 |
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3,364 |
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Current assets |
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Debtors |
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6 |
14,863 |
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10,389 |
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Cash at bank and in hand |
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112,886 |
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97,166 |
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_______ |
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_______ |
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127,749 |
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107,555 |
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Creditors: amounts falling due |
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within one year |
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7 |
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79,094) |
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(
76,064) |
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_______ |
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Net current assets |
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48,655 |
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31,491 |
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Total assets less current liabilities |
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51,268 |
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34,855 |
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_______ |
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Net assets |
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51,268 |
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34,855 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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51,168 |
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34,755 |
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_______ |
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Shareholders funds |
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51,268 |
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34,855 |
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_______ |
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_______ |
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For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
01 August 2022
, and are signed on behalf of the board by:
Mrs Michaela Hancox
Director
Company registration number:
09862585
Michaela Henshaw Limited
Notes to the financial statements
Year ended 30 November 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Highfield Avenue, Harpenden, Hertfordshire, AL5 5UA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts. Amounts are inclusive of VAT before 1 March 2021 and exclusive of VAT thereafter.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Short leasehold property |
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7 years straight line |
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Fittings fixtures and equipment |
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5 years straight line |
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Computer equipment |
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2 years straight line |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2020:
1
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5.
Tangible assets
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Short leasehold property |
Fixtures, fittings and equipment |
Computer equipment |
Total |
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£ |
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£ |
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Cost |
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At 1 December 2020 |
10,351 |
556 |
1,260 |
12,167 |
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Additions |
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828 |
828 |
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_______ |
_______ |
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At 30 November 2021 |
10,351 |
556 |
2,088 |
12,995 |
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_______ |
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Depreciation |
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At 1 December 2020 |
7,025 |
519 |
1,259 |
8,803 |
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Charge for the year |
1,479 |
30 |
70 |
1,579 |
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_______ |
_______ |
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At 30 November 2021 |
8,504 |
549 |
1,329 |
10,382 |
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_______ |
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Carrying amount |
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At 30 November 2021 |
1,847 |
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759 |
2,613 |
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_______ |
_______ |
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_______ |
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At 30 November 2020 |
3,326 |
37 |
1 |
3,364 |
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_______ |
_______ |
_______ |
_______ |
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6.
Debtors
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2021 |
2020 |
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£ |
£ |
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Trade debtors |
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14,458 |
10,203 |
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Other debtors |
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405 |
186 |
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_______ |
_______ |
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14,863 |
10,389 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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2021 |
2020 |
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£ |
£ |
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Corporation tax |
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14,054 |
12,439 |
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Social security and other taxes |
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2,052 |
6,078 |
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Other creditors |
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62,988 |
57,547 |
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_______ |
_______ |
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79,094 |
76,064 |
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_______ |
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8.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company: |
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2021 |
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Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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Mrs Michaela Hancox |
(
53,457) |
(
6,033) |
- |
(
59,490) |
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_______ |
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2020 |
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Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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Mrs Michaela Hancox |
(
65,642) |
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12,185 |
(
53,457) |
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_______ |
_______ |
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_______ |
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