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Registration number: 09111348

Huntsmore Ltd.

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Huntsmore Ltd.

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 9

 

Huntsmore Ltd.

Company Information

Director

Mr Eamonn Agha

Registered office

18 Pembroke Road
London
W8 6NT

Accountants

Wessex Commercial Solutions Limited
Yeovil Innovation Centre
Barracks Close
Yeovil
BA22 8RN

 

Huntsmore Ltd.

(Registration number: 09111348)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Current assets

 

Stocks

5

839,180

813,409

Debtors

-

1,129

Cash at bank and in hand

 

12,191

71,063

 

851,371

885,601

Creditors: Amounts falling due within one year

6

(350,059)

(380,860)

Total assets less current liabilities

 

501,312

504,741

Creditors: Amounts falling due after more than one year

6

(522,304)

(522,209)

Net liabilities

 

(20,992)

(17,468)

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

(21,992)

(18,468)

Shareholders' deficit

 

(20,992)

(17,468)

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

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.

Approved and authorised by the director on 2 September 2022
 

.........................................
Mr Eamonn Agha
Director

 

Huntsmore Ltd.

Statement of Changes in Equity for the Year Ended 31 March 2022

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2021

1,000

(18,468)

(17,468)

Loss for the year

-

(3,524)

(3,524)

Total comprehensive income

-

(3,524)

(3,524)

At 31 March 2022

1,000

(21,992)

(20,992)

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2020

1,000

15,497

16,497

Loss for the year

-

(33,965)

(33,965)

Total comprehensive income

-

(33,965)

(33,965)

At 31 March 2021

1,000

(18,468)

(17,468)

 

Huntsmore Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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:
18 Pembroke Road
London
W8 6NT

These financial statements were authorised for issue by the director on 2 September 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

Post year end it is the intention of the director to sell one of the properties held in stock and realise a profit on this transaction. Therefore, the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Huntsmore Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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

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

Office equipment

25% Straight line

Furniture and fittings

25% 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Huntsmore Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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 the director) during the year, was 0 (2021 - 0).

 

Huntsmore Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2021

4,130

4,130

At 31 March 2022

4,130

4,130

Depreciation

At 1 April 2021

4,130

4,130

At 31 March 2022

4,130

4,130

Carrying amount

At 31 March 2022

-

-

5

Stocks

2022
£

2021
£

Other inventories

839,180

813,409

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

2,471

32,633

Accruals and deferred income

 

1,140

1,140

Other creditors

 

346,448

347,087

 

350,059

380,860

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

522,304

522,209

 

Huntsmore Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

522,304

522,209

 

Huntsmore Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

522,304

522,209

2022
£

2021
£

Current loans and borrowings

Other borrowings

2,471

32,633