Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04616184 2022-03-01 2023-02-28 04616184 2021-03-01 2022-02-28 04616184 2023-02-28 04616184 2022-02-28 04616184 c:Director1 2022-03-01 2023-02-28 04616184 d:Goodwill 2023-02-28 04616184 d:Goodwill 2022-02-28 04616184 d:CurrentFinancialInstruments 2023-02-28 04616184 d:CurrentFinancialInstruments 2022-02-28 04616184 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 04616184 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 04616184 d:ShareCapital 2023-02-28 04616184 d:ShareCapital 2022-02-28 04616184 d:RetainedEarningsAccumulatedLosses 2023-02-28 04616184 d:RetainedEarningsAccumulatedLosses 2022-02-28 04616184 c:OrdinaryShareClass1 2022-03-01 2023-02-28 04616184 c:OrdinaryShareClass1 2023-02-28 04616184 c:OrdinaryShareClass1 2022-02-28 04616184 c:FRS102 2022-03-01 2023-02-28 04616184 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 04616184 c:FullAccounts 2022-03-01 2023-02-28 04616184 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04616184 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-28 04616184 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-02-28 04616184 2 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04616184









THE HEVENINGHAM COLLECTION LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023
 

 
THE HEVENINGHAM COLLECTION LIMITED
REGISTERED NUMBER: 04616184

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

  

Goodwill
 4 
-
-

Current assets
  

Stocks
  
9,179
15,731

Debtors: amounts falling due within one year
 5 
146,444
48,883

Cash at bank and in hand
  
657,533
388,859

  
813,156
453,473

Creditors: amounts falling due within one year
 6 
(275,531)
(158,846)

Net current assets
  
 
 
537,625
 
 
294,627

  

Net assets
  
537,625
294,627


Capital and reserves
  

Called up share capital 
 7 
10
10

Profit and loss account
  
537,615
294,617

  
537,625
294,627


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Maclean
Director

Date: 9 November 2023

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
THE HEVENINGHAM COLLECTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


GENERAL INFORMATION

The company is a private Company limited by shares, incorporated in England, United Kingdom. The registered number for the Company is 04616184 and the address of the registered office is 24 Old Bond Street, London, W1S 4AP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 2

 
THE HEVENINGHAM COLLECTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.



 
Page 3

 
THE HEVENINGHAM COLLECTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.7
FINANCIAL INSTRUMENTS (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price.

 
2.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.11

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
THE HEVENINGHAM COLLECTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


INTANGIBLE ASSETS




Goodwill

£



Cost


At 1 March 2022
120,000



At 28 February 2023

120,000



Amortisation


At 1 March 2022
120,000



At 28 February 2023

120,000



Net book value



At 28 February 2023
-



At 28 February 2022
-



Page 5

 
THE HEVENINGHAM COLLECTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


DEBTORS

2023
2022
£
£


Trade debtors
139,850
31,012

Other debtors
2,371
11,241

Prepayments
4,223
2,346

Tax recoverable
-
4,284

146,444
48,883



6.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
36,045
31,608

Corporation tax
77,604
73,865

Other taxation and social security
178
-

Accruals and deferred income
161,704
53,373

275,531
158,846



7.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



10 (2022 - 10) Ordinary shares of £1.00 each
10
10



8.


RELATED PARTY TRANSACTIONS

During the year, the Company operated loans with the director of the Company. At the year end the balance owed by the director to the Company was £2,371 (2022 - £775). The loan is interest free and repayable on demand. The loan was repaid within 9 months of the year end.


Page 6