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Registration number: 01151428

Hockley Enterprises (Essex) Limited

Report of the Directors and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Hockley Enterprises (Essex) Limited

Contents of The Financial Statements
for the Year Ended 28 February 2023

 

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 12

 

Hockley Enterprises (Essex) Limited

Company Information
for the Year Ended 28 February 2023

Director

Mr Lee David Rainforth

Registered office

8 Grainger Road
Southend on Sea
Essex
SS2 5BZ

Accountants

Insight Strategic Associates
Chartered Certified Accountants
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Hockley Enterprises (Essex) Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hockley Enterprises (Essex) Limited for the year ended 28 February 2023 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
 

This report is made solely to the Board of Directors of Hockley Enterprises (Essex) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hockley Enterprises (Essex) Limited and state those matters that we have agreed to state to the Board of Directors of Hockley Enterprises (Essex) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hockley Enterprises (Essex) Limited and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Hockley Enterprises (Essex) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hockley Enterprises (Essex) Limited. You consider that Hockley Enterprises (Essex) Limited is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of Hockley Enterprises (Essex) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Insight Strategic Associates
Chartered Certified Accountants

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

5 October 2023

 

Hockley Enterprises (Essex) Limited

(Registration number: 01151428 )
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

66,311

69,262

Current assets

 

Stocks

5

20,264

20,264

Debtors

6

74,161

74,200

Cash at bank and in hand

 

8,959

8,218

 

103,384

102,682

Creditors: Amounts falling due within one year

7

(157,901)

(201,792)

Net current liabilities

 

(54,517)

(99,110)

Net assets/(liabilities)

 

11,794

(29,848)

Capital and reserves

 

Called up share capital

183

183

Capital redemption reserve

17

17

Retained earnings

11,594

(30,048)

Shareholders' funds/(deficit)

 

11,794

(29,848)

For the financial year ending 28 February 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 October 2023
 

 

Hockley Enterprises (Essex) Limited

(Registration number: 01151428 )
Balance Sheet as at 28 February 2023

.........................................
Mr Lee David Rainforth
Director

 

Hockley Enterprises (Essex) Limited

Statement of Changes in Equity for the Year Ended 28 February 2023

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 March 2022

183

17

(30,048)

(29,848)

Profit for the year

-

-

41,642

41,642

At 28 February 2023

183

17

11,594

11,794

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 March 2021

183

17

(51,089)

(50,889)

Profit for the year

-

-

21,041

21,041

At 28 February 2022

183

17

(30,048)

(29,848)

 

Hockley Enterprises (Essex) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
8 Grainger Road
Southend on Sea
Essex
SS2 5BZ
England

These financial statements were authorised for issue by the director on 5 October 2023.

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.

Going concern

The financial statements have been prepared on a going concern basis.

 

Hockley Enterprises (Essex) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

2

Accounting policies (continued)

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 deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery etc

25% reducing balance and 33% on cost

 

Hockley Enterprises (Essex) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

2

Accounting policies (continued)

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Hockley Enterprises (Essex) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

2

Accounting policies (continued)

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 8).

 

Hockley Enterprises (Essex) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

162,759

27,250

57,456

247,465

At 28 February 2023

162,759

27,250

57,456

247,465

Depreciation

At 1 March 2022

154,178

24,024

-

178,202

Charge for the year

2,145

807

-

2,952

At 28 February 2023

156,323

24,831

-

181,154

Carrying amount

At 28 February 2023

6,436

2,419

57,456

66,311

At 28 February 2022

8,579

3,227

57,456

69,262

5

Stocks

2023
£

2022
£

Other inventories

20,264

20,264

6

Debtors

Current

2023
£

2022
£

Trade debtors

50,296

44,759

Other debtors

23,865

29,441

 

74,161

74,200

7

Creditors

Creditors: amounts falling due within one year

 

Hockley Enterprises (Essex) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Creditors (continued)

2023
£

2022
£

Due within one year

Trade creditors

21,744

33,950

Taxation and social security

15,816

9,132

Accruals and deferred income

1,672

1,579

Other creditors

118,669

157,131

157,901

201,792

8

Related party transactions

 

Hockley Enterprises (Essex) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

7,200

7,200

Contributions paid to money purchase schemes

3,252

3,387

10,452

10,587