1 false false false false false false false false false true false false false false false false No description of principal activity 2020-12-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 11063041 2020-12-01 2021-11-30 11063041 2021-11-30 11063041 2020-11-30 11063041 2019-12-01 2020-11-30 11063041 2020-11-30 11063041 bus:Director1 2020-12-01 2021-11-30 11063041 core:WithinOneYear 2021-11-30 11063041 core:WithinOneYear 2020-11-30 11063041 core:AfterOneYear 2021-11-30 11063041 core:AfterOneYear 2020-11-30 11063041 core:ShareCapital 2021-11-30 11063041 core:ShareCapital 2020-11-30 11063041 core:RetainedEarningsAccumulatedLosses 2021-11-30 11063041 core:RetainedEarningsAccumulatedLosses 2020-11-30 11063041 bus:Director1 2020-11-30 11063041 bus:Director1 2021-11-30 11063041 bus:Director1 2019-11-30 11063041 bus:Director1 2020-11-30 11063041 bus:Director1 2019-12-01 2020-11-30 11063041 bus:SmallEntities 2020-12-01 2021-11-30 11063041 bus:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 11063041 bus:FullAccounts 2020-12-01 2021-11-30 11063041 bus:SmallCompaniesRegimeForAccounts 2020-12-01 2021-11-30 11063041 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30
COMPANY REGISTRATION NUMBER: 11063041
Haines Furnishings Ltd
Filleted Unaudited Financial Statements
30 November 2021
Haines Furnishings Ltd
Statement of Financial Position
30 November 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
5
349
1,025
Current assets
Stocks
4,394
5,022
Debtors
6
10,396
37,613
Cash at bank and in hand
20,844
31,207
--------
--------
35,634
73,842
Creditors: amounts falling due within one year
7
39,909
55,896
--------
--------
Net current (liabilities)/assets
( 4,275)
17,946
-------
--------
Total assets less current liabilities
( 3,926)
18,971
Creditors: amounts falling due after more than one year
8
15,200
18,683
--------
--------
Net (liabilities)/assets
( 19,126)
288
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 19,226)
188
--------
----
Shareholders (deficit)/funds
( 19,126)
288
--------
----
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.
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:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Haines Furnishings Ltd
Statement of Financial Position (continued)
30 November 2021
These financial statements were approved by the board of directors and authorised for issue on 30 August 2022 , and are signed on behalf of the board by:
M Hall Esq
Director
Company registration number: 11063041
Haines Furnishings Ltd
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 TML House, 1a The Anchorage, Gosport, Hampshire, PO12 1LY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
15 % reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2020: 2 ).
5. Tangible assets
Equipment
£
Cost
At 1 December 2020
1,669
Disposals
( 1,000)
-------
At 30 November 2021
669
-------
Depreciation
At 1 December 2020
644
Charge for the year
62
Disposals
( 386)
-------
At 30 November 2021
320
-------
Carrying amount
At 30 November 2021
349
-------
At 30 November 2020
1,025
-------
6. Debtors
2021
2020
£
£
Trade debtors
4,183
2,105
Other debtors
6,213
35,508
--------
--------
10,396
37,613
--------
--------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
3,800
317
Trade creditors
8,983
4,720
Corporation tax
1,746
1,746
Social security and other taxes
5,614
1,380
Other creditors
19,766
47,733
--------
--------
39,909
55,896
--------
--------
8. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
15,200
18,683
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M Hall Esq
( 353)
( 532)
( 885)
----
----
----
2020
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M Hall Esq
( 3,275)
2,922
( 353)
-------
-------
----
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2021
2020
2021
2020
£
£
£
£
Carpetcraft Limited
(29,750)
11,995
29,750
Gosport Property Management Ltd
3,156
(6,000)
( 16,844)
( 20,000)
MAH Property Services and Maintenance Ltd
25,000
9,000
( 25,000)
--------
--------
--------
--------
M Hall Esq is the managing director and sole shareholder of Carpetcrft Limited. M Hall Esq is the managing director and sole shareholder of Gosport Property Management Limited. M Hall Esq is the managing director and sole shareholder of MAH Property Services and Maintenanace Ltd.