Hemsley House Limited 00239833 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is rental and catering facilities at Hemsley House Digita Accounts Production Advanced 6.30.9574.0 true 00239833 2022-06-01 2023-05-31 00239833 2023-05-31 00239833 core:CurrentFinancialInstruments 2023-05-31 00239833 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 00239833 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 00239833 core:FurnitureFittings 2023-05-31 00239833 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 00239833 core:OtherPropertyPlantEquipment 2023-05-31 00239833 bus:SmallEntities 2022-06-01 2023-05-31 00239833 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 00239833 bus:FullAccounts 2022-06-01 2023-05-31 00239833 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 00239833 bus:RegisteredOffice 2022-06-01 2023-05-31 00239833 bus:Director5 2022-06-01 2023-05-31 00239833 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 00239833 core:FurnitureFittings 2022-06-01 2023-05-31 00239833 core:LandBuildings 2022-06-01 2023-05-31 00239833 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 00239833 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 00239833 core:PlantMachinery 2022-06-01 2023-05-31 00239833 countries:England 2022-06-01 2023-05-31 00239833 2022-05-31 00239833 core:FurnitureFittings 2022-05-31 00239833 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-31 00239833 core:OtherPropertyPlantEquipment 2022-05-31 00239833 2021-06-01 2022-05-31 00239833 2022-05-31 00239833 core:CurrentFinancialInstruments 2022-05-31 00239833 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 00239833 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 00239833 core:FurnitureFittings 2022-05-31 00239833 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-31 00239833 core:OtherPropertyPlantEquipment 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 00239833

Hemsley House Limited
Annual Report and
Unaudited Financial Statements

31 May 2023

 

Hemsley House Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Hemsley House Limited

Balance Sheet
31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

139,169

149,098

Current assets

 

Stocks

6

4,268

3,433

Debtors

7

22,107

20,981

Cash at bank and in hand

 

26,463

49,254

 

52,838

73,668

Creditors: Amounts falling due within one year

8

(39,783)

(35,171)

Net current assets

 

13,055

38,497

Total assets less current liabilities

 

152,224

187,595

Creditors: Amounts falling due after more than one year

8

(12,094)

(16,917)

Net assets

 

140,130

170,678

Capital and reserves

 

Called up share capital

21,156

21,156

Retained earnings

118,974

149,522

Shareholders' funds

 

140,130

170,678

 

Hemsley House Limited

Balance Sheet
31 May 2023

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2023 and signed on its behalf by:
 

.........................................
M Gilbert
Director

Company Registration Number: 00239833

 

Hemsley House Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Hemsley House
41 Crescent
Salford
Greater Manchester
M5 4PE

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.

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.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

Hemsley House Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

Tax

The tax expense for the period comprises current 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.

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

Land and buildings

2% straight line

Plant and machinery

10% reducing balance

Fixtures and fittings

10% reducing balance

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.

 

Hemsley House Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Hemsley House Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 7 (2022 - 7).

 

Hemsley House Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

10,049

10,486

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 June 2022

282,735

156,804

93,483

533,022

Additions

-

120

-

120

At 31 May 2023

282,735

156,924

93,483

533,142

Depreciation

At 1 June 2022

177,457

121,323

85,144

383,924

Charge for the year

5,655

3,560

834

10,049

At 31 May 2023

183,112

124,883

85,978

393,973

Carrying amount

At 31 May 2023

99,623

32,041

7,505

139,169

At 31 May 2022

105,278

35,481

8,339

149,098

Included within the net book value of land and buildings above is £99,623 (2022 - £105,278) in respect of freehold land and buildings.
 

6

Stocks

2023
£

2022
£

Merchandise

4,268

3,433

 

Hemsley House Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

18,208

8,691

Prepayments

3,899

5,284

Other debtors

-

7,006

 

22,107

20,981

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

5,324

5,324

Trade creditors

 

15,038

4,472

Taxation and social security

 

2,632

4,063

Accruals and deferred income

 

16,789

21,293

Other creditors

 

-

19

 

39,783

35,171