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Registration number: 05775261

The Henge Shop Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

The Henge Shop Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

The Henge Shop Limited

(Registration number: 05775261)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

6

48,248

64,331

Tangible assets

7

16,920

19,016

 

65,168

83,347

Current assets

 

Stocks

8

195,448

175,256

Debtors

9

7,826

4,028

Cash at bank and in hand

 

119,853

123,603

 

323,127

302,887

Creditors: Amounts falling due within one year

10

(365,692)

(371,469)

Net current liabilities

 

(42,565)

(68,582)

Total assets less current liabilities

 

22,603

14,765

Provisions for liabilities

(4,230)

(4,754)

Net assets

 

18,373

10,011

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

8,373

11

Shareholders' funds

 

18,373

10,011

 

The Henge Shop Limited

(Registration number: 05775261)
Balance Sheet as at 28 February 2023

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.

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 20 November 2023 and signed on its behalf by:
 

.........................................
P C Ullens de Schooten
Company secretary and director

 

The Henge Shop 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 England and Wales.

The address of its registered office is:
High Street
Avebury
Marlborough
Wiltshire
SN8 1RF

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 in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

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:

 

The Henge Shop Limited

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

Asset class

Depreciation method and rate

Office equipment

15% reducing balance basis

Fixtures and fittings

25% reducing balance basis

Motor vehicles

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired intangible assets are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

Website

20% straight line basis

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

The Henge Shop Limited

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

3

Taxation

2023

2022

£

£

Corporation tax

2,328

4,112

Deferred tax

(524)

1,504

1,804

5,616

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 8).

 

The Henge Shop Limited

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

5

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

4,305

4,768

Amortisation expense

16,083

16,083

6

Intangible assets

Goodwill
 £

Website
£

Total
£

Cost or valuation

At 1 March 2022

319,000

6,000

325,000

At 28 February 2023

319,000

6,000

325,000

Amortisation

At 1 March 2022

254,669

6,000

260,669

Amortisation charge

16,083

-

16,083

At 28 February 2023

270,752

6,000

276,752

Carrying amount

At 28 February 2023

48,248

-

48,248

At 28 February 2022

64,331

-

64,331

 

The Henge Shop Limited

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

7

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2022

21,655

36,002

57,657

Additions

2,207

-

2,207

At 28 February 2023

23,862

36,002

59,864

Depreciation

At 1 March 2022

12,655

25,984

38,639

Charge for the year

2,802

1,503

4,305

At 28 February 2023

15,457

27,487

42,944

Carrying amount

At 28 February 2023

8,405

8,515

16,920

At 28 February 2022

8,999

10,017

19,016

8

Stocks

2023
£

2022
£

Other inventories

195,448

175,256

9

Debtors

Current

2023
£

2022
£

Trade debtors

-

1,711

Prepayments

2,776

2,317

Other debtors

5,050

-

 

7,826

4,028

 

The Henge Shop Limited

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

10

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

3,686

3,727

Taxation and social security

14,137

26,983

Other creditors

347,869

340,759

365,692

371,469