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Registration number: 09374151

The Cavalry of Heroes Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 December 2021

 

The Cavalry of Heroes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

The Cavalry of Heroes Limited

Company Information

Directors

Mr M A Lovatt

Mrs C Lovatt

Company secretary

Mrs C Lovatt

Registered office

Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Bankers

HSBC Bank plc
35 High Town
Hereford
HR1 2AQ

 

Accountants

WJ James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

The Cavalry of Heroes Limited

(Registration number: 09374151)

Balance Sheet
as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

14,112

17,810

Current assets

 

Stocks

48

170

Debtors

5

1,947

2,574

Cash at bank and in hand

 

4,616

10,168

 

6,611

12,912

Creditors: Amounts falling due within one year

6

(88,351)

(82,467)

Net current liabilities

 

(81,740)

(69,555)

Total assets less current liabilities

 

(67,628)

(51,745)

Creditors: Amounts falling due after more than one year

6

(8,746)

(11,056)

Net liabilities

 

(76,374)

(62,801)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(76,474)

(62,901)

Total equity

 

(76,374)

(62,801)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

The Cavalry of Heroes Limited

(Registration number: 09374151)

Balance Sheet
as at 31 December 2021

Approved and authorised by the Board on 15 March 2022 and signed on its behalf by:
 

.........................................

Mr M A Lovatt

Director

.........................................

Mrs C Lovatt

Company secretary and director

 

The Cavalry of Heroes Limited

Notes to the Financial Statements
for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG
Wales

These financial statements were authorised for issue by the Board on 15 March 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £1.

Going concern

The company has net current liabilities of £81,740 as at the balance sheet date. The financial statements have been prepared on a going concern basis. This is on the assumption that Mr and Mrs M A Lovatt, the largest company creditors will continue to support the company for the forseeable future.

Revenue recognition

Turnover represents the net invoiced sales of services.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Costume items and equipment

25% on reducing balance

 

The Cavalry of Heroes Limited

Notes to the Financial Statements
for the Year Ended 31 December 2021

Plant and machinery

20% on reducing balance

Computer equipment

33% on reducing balance

Motor vehicles

25% on reducing balance

Horses

5 % on straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for sale of services performed in the ordinary course of business.

Stocks

Stock is valued at the lower of cost and net realisable value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 0).

 

The Cavalry of Heroes Limited

Notes to the Financial Statements
for the Year Ended 31 December 2021

4

Tangible assets

Costume items and equipment
£

Plant and machinery
£

Computer equipment
£

Motor vehicles
 £

Cost or valuation

At 1 January 2021

12,595

4,640

629

25,552

Additions

392

-

-

-

At 31 December 2021

12,987

4,640

629

25,552

Depreciation

At 1 January 2021

7,791

3,242

451

16,247

Charge for the year

1,299

280

59

2,327

At 31 December 2021

9,090

3,522

510

18,574

Carrying amount

At 31 December 2021

3,897

1,118

119

6,978

At 31 December 2020

4,804

1,398

178

9,305

Horses
£

Total
£

Cost or valuation

At 1 January 2021

2,500

45,916

Additions

-

392

At 31 December 2021

2,500

46,308

Depreciation

At 1 January 2021

375

28,106

Charge for the year

125

4,090

At 31 December 2021

500

32,196

Carrying amount

At 31 December 2021

2,000

14,112

At 31 December 2020

2,125

17,810

 

The Cavalry of Heroes Limited

Notes to the Financial Statements
for the Year Ended 31 December 2021

5

Debtors

2021
£

2020
£

Trade debtors

667

1,387

Prepayments

1,280

1,187

1,947

2,574

 

The Cavalry of Heroes Limited

Notes to the Financial Statements
for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Bank loans and overdrafts

7

2,308

989

Trade creditors

 

241

111

Taxation and social security

 

444

531

Accruals and deferred income

 

4,987

7,965

Other creditors

 

80,371

72,871

 

88,351

82,467

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

7

8,746

11,056

2021
£

2020
£

Due after more than five years

After more than five years by instalments

-

1,478

-

-

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

8,746

11,056

2021
£

2020
£

Current loans and borrowings

Bank borrowings

2,308

944

Bank overdrafts

-

45

2,308

989