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COMPANY REGISTRATION NUMBER: 11654887
Hampton (Woburn Sands Emporium) Limited
Filleted Financial Statements
For the year ended
31 December 2022
Hampton (Woburn Sands Emporium) Limited
Statement of Financial Position
31 December 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
5
167,977
146,647
Current assets
Stocks
419,918
472,801
Debtors
6
56,266
143,773
Cash at bank and in hand
29,013
116,637
---------
---------
505,197
733,211
Creditors: amounts falling due within one year
7
1,648,880
1,386,350
------------
------------
Net current liabilities
1,143,683
653,139
------------
---------
Total assets less current liabilities
( 975,706)
( 506,492)
Provisions
41,994
36,662
------------
---------
Net liabilities
( 1,017,700)
( 543,154)
------------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,017,800)
( 543,254)
------------
---------
Shareholders deficit
( 1,017,700)
( 543,154)
------------
---------
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
J S Sehmi
Director
Company registration number: 11654887
Hampton (Woburn Sands Emporium) Limited
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Burlington House, 369 Wellingborough Road, Northampton, NN1 4EU, England.
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.
Going concern
During the year the company has made a loss and has net liabilities at the statement of financial position date. Support is available by other group companies, who have indicated that they will support the company for the foreseeable future. The directors, having considered the above, continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as disclosed in the accounting policies notes. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as disclosed in the accounting policies notes.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
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:
Fixtures and fittings
-
10/25% Straight Line
Equipment
-
33% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 52 (2021: 46 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2022
154,387
29,244
183,631
Additions
47,018
1,290
48,308
---------
--------
---------
At 31 December 2022
201,405
30,534
231,939
---------
--------
---------
Depreciation
At 1 January 2022
20,217
16,767
36,984
Charge for the year
17,080
9,898
26,978
---------
--------
---------
At 31 December 2022
37,297
26,665
63,962
---------
--------
---------
Carrying amount
At 31 December 2022
164,108
3,869
167,977
---------
--------
---------
At 31 December 2021
134,170
12,477
146,647
---------
--------
---------
6. Debtors
2022
2021
£
£
Trade debtors
23,857
15,187
Amounts owed by group undertakings
88
120,950
Other debtors
32,321
7,636
--------
---------
56,266
143,773
--------
---------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
311,869
334,169
Amounts owed to group undertakings
1,270,410
910,588
Social security and other taxes
6,787
90,362
Other creditors
59,814
51,231
------------
------------
1,648,880
1,386,350
------------
------------
8. Operating leases
As lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
2022
2021
£
£
Not later than 1 year
375,000
375,000
Later than 1 year and not later than 5 years
192,123
567,123
---------
---------
567,123
942,123
---------
---------
As lessor
The total future minimum lease payments receivable under non-cancellable operating leases are as follows:
2022
2021
£
£
Not later than 1 year
115,533
138,967
Later than 1 year and not later than 5 years
166,764
146,300
---------
---------
282,297
285,267
---------
---------
9. Summary audit opinion
The auditor's report for the year dated 30 September 2023 was unqualified .
The senior statutory auditor was Jonathon Day , for and on behalf of Streets Audit LLP .
10. Related party transactions
Exemption is taken from disclosing group related party transactions as set out in FRS 102 section 1A.
11. Controlling party
The company is a wholly owned subsidiary of Hampton (Woburn Sands) Limited, a company registered in England and Wales. The ultimate controlling party is Rochmills (Holdings) Limited, a company registered in England and Wales Rochmills (Holdings) Limited prepare group accounts. The address of the registered office is Burlington House, 369 Wellingborough Road, Northampton, England, NN1 4EU. The ultimate controlling party is J S Sehmi .