SESSIONS HSK LTD

Company Registration Number:
13909866 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 11 February 2022

End date: 31 March 2023

SESSIONS HSK LTD

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

SESSIONS HSK LTD

Balance sheet

As at 31 March 2023


Notes

14 months to 31 March 2023


£
Called up share capital not paid: 1
Fixed assets
Tangible assets: 3 858,279
Total fixed assets: 858,279
Current assets
Stocks: 23,868
Debtors:   119,815
Cash at bank and in hand: 62,543
Total current assets: 206,226
Creditors: amounts falling due within one year:   (1,613,152)
Net current assets (liabilities): (1,406,926)
Total assets less current liabilities: (548,646)
Creditors: amounts falling due after more than one year: 4 (112,753)
Total net assets (liabilities): (661,399)
Capital and reserves
Called up share capital: 1
Profit and loss account: (661,400)
Shareholders funds: (661,399)

The notes form part of these financial statements

SESSIONS HSK LTD

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 11 November 2023
and signed on behalf of the board by:

Name: Ian Banks
Status: Director

The notes form part of these financial statements

SESSIONS HSK LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

Generally, revenue represents external sales (excluding taxes) of goods and services, net of discounts. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and is measured at the fair value of consideration receivable, excluding discounts, rebates, and other sales taxes or duty relating to brewing and packaging of certain products.

Tangible fixed assets and depreciation policy

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 followsLong leasehold property over the life of the leasePlant and machinery 20 percent straight lineEquipment 33 percent straight line

Valuation and information policy

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 stock to its present location and condition.

Other accounting policies

Financial instrumentsA 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.Impairment of fixed assetsA 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.For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

SESSIONS HSK LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

14 months to 31 March 2023
Average number of employees during the period 20

SESSIONS HSK LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
Additions 936,734
At 31 March 2023 936,734
Depreciation
Charge for year 78,455
At 31 March 2023 78,455
Net book value
At 31 March 2023 858,279

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

SESSIONS HSK LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due after more than one year note

Included in the above loans is £193,196 of loans secured against company assets.

SESSIONS HSK LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Off balance sheet arrangements

Sessions Market Limited is the parent company of Sessions HSK Limited, its registered office address isFloor 8, 52 Grosvenor Gardens, London, SW1W 0AU.