2021-04-012022-03-312022-03-31false00138186HOWITTS 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HOWITTS LIMITED

Registered Number
00138186
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2022

HOWITTS LIMITED
Company Information
for the year from 1 April 2021 to 31 March 2022

Directors

EBRAHIM, Femina
EBRAHIM, Nazim Nizar

Registered Address

Flat 12 High Street
Desborough
Kettering
NN14 2QS

Registered Number

00138186 (England and Wales)
HOWITTS LIMITED
Balance Sheet as at
31 March 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets543,64751,673
43,64751,673
Current assets
Stocks768,21764,568
Debtors8240,431934,166
Cash at bank and on hand168,152114,925
476,8001,113,659
Creditors amounts falling due within one year9(349,990)(571,857)
Net current assets (liabilities)126,810541,802
Total assets less current liabilities170,457593,475
Provisions for liabilities10(8,293)-
Net assets162,164593,475
Capital and reserves
Called up share capital50,00050,000
Profit and loss account112,164543,475
Shareholders' funds162,164593,475
The financial statements were approved and authorised for issue by the Board of Directors on 19 August 2022, and are signed on its behalf by:
EBRAHIM, Nazim Nizar
Director
Registered Company No. 00138186
HOWITTS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant & Machinery @25% RBM Furniture & Fixtures @15% RBM

Reducing balance (%)
Plant and machinery25
Fixtures and fittings15
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20222021
Average number of employees during the year89
5.Property, plant and equipment

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 211,61378,6005,89986,112
Disposals--(260)(260)
At 31 March 221,61378,6005,63985,852
Depreciation and impairment
At 01 April 21-32,2492,19034,439
Charge for year-6,9528797,831
On disposals--(65)(65)
At 31 March 22-39,2013,00442,205
Net book value
At 31 March 221,61339,3992,63543,647
At 31 March 211,61346,3513,70951,673
All the fixed assets have been depreciated.
6.Dividends proposed and payable

2022

2021

££
Dividends Paid220,147205,557
Total220,147205,557
7.Stocks

2022

2021

££
Raw materials and consumables68,21764,568
Total68,21764,568
8.Debtors

2022

2021

££
Trade debtors / trade receivables207,644305,892
Other debtors31,051627,162
Prepayments and accrued income1,7361,112
Total240,431934,166
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2022

2021

££
Trade creditors / trade payables164,283154,730
Bank borrowings and overdrafts50,00050,000
Taxation and social security23,61045,182
Other creditors112,097321,945
Total349,990571,857
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Provisions for liabilities

2022

2021

££
Net deferred tax liability (asset)8,293-
Total8,293-