REGISTERED NUMBER: |
Harrods Outdoor Limited |
Unaudited Financial Statements for the Year Ended 31 May 2022 |
REGISTERED NUMBER: |
Harrods Outdoor Limited |
Unaudited Financial Statements for the Year Ended 31 May 2022 |
Harrods Outdoor Limited (Registered number: 12604361) |
Contents of the Financial Statements |
for the Year Ended 31 May 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Harrods Outdoor Limited |
Company Information |
for the Year Ended 31 May 2022 |
Director: |
Registered office: |
Business address: |
Registered number: |
Accountants: |
5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
Harrods Outdoor Limited (Registered number: 12604361) |
Statement of Financial Position |
31 May 2022 |
31/5/22 | 31/5/21 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Retained earnings |
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. |
Harrods Outdoor Limited (Registered number: 12604361) |
Statement of Financial Position - continued |
31 May 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Harrods Outdoor Limited (Registered number: 12604361) |
Notes to the Financial Statements |
for the Year Ended 31 May 2022 |
1. | Statutory information |
Harrods Outdoor Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Changes in accounting policies |
The change in accounting policy is in respect of the re-classification of certain costs from overhead expenses to cost of sales. |
The effect of the change in policy is as follows:- |
2022 | 2021 |
£ | £ |
Increase in Cost of Sales | 53,303 | 15,515 |
Decrease in Expenses | -53,303 | -15,515 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other related sales related taxes. The fair value of consideration takes into account trade discounts allowed and settlement discounts. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, (usually on delivery of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer and office equipment | - |
Harrods Outdoor Limited (Registered number: 12604361) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2022 |
2. | Accounting policies - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
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. Debt instruments are subsequently measured at amortised cost. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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. |
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. |
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. |
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. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | Employees and directors |
The average number of employees during the year was |
Harrods Outdoor Limited (Registered number: 12604361) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2022 |
4. | Intangible fixed assets |
Website |
development |
costs |
£ |
Cost |
At 1 June 2021 |
Additions |
At 31 May 2022 |
Amortisation |
At 1 June 2021 |
Amortisation for year |
At 31 May 2022 |
Net book value |
At 31 May 2022 |
At 31 May 2021 |
5. | Tangible fixed assets |
Computer |
Improvements | and |
to | Plant and | Motor | office |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 June 2021 |
Additions |
At 31 May 2022 |
Depreciation |
At 1 June 2021 |
Charge for year |
At 31 May 2022 |
Net book value |
At 31 May 2022 |
At 31 May 2021 |
Harrods Outdoor Limited (Registered number: 12604361) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2022 |
5. | Tangible fixed assets - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
Cost |
At 1 June 2021 |
Additions |
At 31 May 2022 |
Depreciation |
At 1 June 2021 |
Charge for year |
At 31 May 2022 |
Net book value |
At 31 May 2022 |
At 31 May 2021 |
6. | Debtors: amounts falling due within one year |
31/5/22 | 31/5/21 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
31/5/22 | 31/5/21 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
31/5/22 | 31/5/21 |
£ | £ |
Hire purchase contracts |