0
31/03/2023
2023-03-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
10610098
2022-04-01
2023-03-31
10610098
2023-03-31
10610098
2022-03-31
10610098
2022-03-31
10610098
core:IntangibleAssetsOtherThanGoodwill
2022-04-01
2023-03-31
10610098
core:FurnitureFittingsToolsEquipment
2022-04-01
2023-03-31
10610098
bus:RegisteredOffice
2022-04-01
2023-03-31
10610098
bus:LeadAgentIfApplicable
2022-04-01
2023-03-31
10610098
bus:Director1
2022-04-01
2023-03-31
10610098
core:WithinOneYear
2023-03-31
10610098
core:WithinOneYear
2022-03-31
10610098
core:AfterOneYear
2023-03-31
10610098
core:AfterOneYear
2022-03-31
10610098
core:ShareCapital
2023-03-31
10610098
core:ShareCapital
2022-03-31
10610098
core:RetainedEarningsAccumulatedLosses
2023-03-31
10610098
core:RetainedEarningsAccumulatedLosses
2022-03-31
10610098
bus:Director1
2022-03-31
10610098
bus:Director1
2023-03-31
10610098
bus:Director1
2021-03-31
10610098
bus:Director1
2022-03-31
10610098
bus:Director1
2021-04-01
2022-03-31
10610098
bus:SmallEntities
2022-04-01
2023-03-31
10610098
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
10610098
bus:AbridgedAccounts
2022-04-01
2023-03-31
10610098
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
10610098
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
Company registration number:
10610098
Hatfieldslondon Ltd
Unaudited filleted abridged financial statements
31 March 2023
Hatfieldslondon Ltd
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Hatfieldslondon Ltd
Directors and other information
|
|
|
|
Director |
Mr T Hatfield |
|
|
|
|
|
|
|
Company number |
10610098 |
|
|
|
|
|
|
|
Registered office |
1 Shepperton Marina |
|
|
Felix Lane |
|
|
Shepperton |
|
|
Middlesex |
|
|
TW17 8NS |
|
|
|
|
|
|
|
Accountants |
Alan James & Associates Limited |
|
|
1 Shepperton Marina |
|
|
Felix Lane |
|
|
Shepperton |
|
|
Middlesex |
|
|
TW17 8NS |
|
|
|
Hatfieldslondon Ltd
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Hatfieldslondon Ltd
Year ended 31 March 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 Hatfieldslondon Ltd for the year ended 31 March 2023 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Hatfieldslondon Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Hatfieldslondon Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hatfieldslondon Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Hatfieldslondon Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hatfieldslondon Ltd. You consider that Hatfieldslondon Ltd 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 financial statements of Hatfieldslondon Ltd. 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 financial statements.
Alan James & Associates Limited
Chartered Accountants
1 Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
3 November 2023
Hatfieldslondon Ltd
Abridged statement of financial position
31 March 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
4 |
1,976 |
|
|
|
3,312 |
|
|
Tangible assets |
|
5 |
23,007 |
|
|
|
25,367 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
24,983 |
|
|
|
28,679 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
93,434 |
|
|
|
117,657 |
|
|
Debtors |
|
|
35,213 |
|
|
|
27,495 |
|
|
Cash at bank and in hand |
|
|
111 |
|
|
|
969 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
128,758 |
|
|
|
146,121 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
|
(
62,043) |
|
|
|
(
53,036) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
66,715 |
|
|
|
93,085 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
91,698 |
|
|
|
121,764 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
|
|
|
(
71,500) |
|
|
|
(
110,000) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
20,198 |
|
|
|
11,764 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
10 |
|
|
|
10 |
Profit and loss account |
|
|
|
|
20,188 |
|
|
|
11,754 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholder funds |
|
|
|
|
20,198 |
|
|
|
11,764 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 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 member has 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
03 November 2023
, and are signed on behalf of the board by:
Mr T Hatfield
Director
Company registration number:
10610098
Hatfieldslondon Ltd
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 1 Shepperton Marina, Felix Lane, Shepperton, Middlesex, TW17 8NS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Patent |
- |
20 % |
straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
|
|
|
|
|
|
Fixtures, fittings and equipment |
- |
25 % |
straight line |
|
Garden office |
- |
No depreciation
|
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4.
Intangible assets
|
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
7,032 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 April 2022 |
3,720 |
|
|
|
|
|
|
Charge for the year |
1,336 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
At 31 March 2023 |
5,056 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2023 |
1,976 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
At 31 March 2022 |
3,312 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
5.
Tangible assets
|
|
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
35,121 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
9,754 |
|
|
|
|
|
|
|
Charge for the year |
2,360 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 31 March 2023 |
12,114 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
23,007 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 31 March 2022 |
25,367 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Directors advances, credits and guarantees
|
During the year the director entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr T Hatfield |
(
7,655) |
73,396 |
(
41,423) |
24,318 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr T Hatfield |
(
15,077) |
27,724 |
(
20,302) |
(
7,655) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
Interest at HMRC's official rate of 2% has been charged on the average balance of the above director's loan account. The director's loan was repaid in full on 1 August 2023.