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  HITCHIN CLUB 85 LTD
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 MAY 2023
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  HITCHIN CLUB 85 LTD
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 MAY 2023
       
       
  DIRECTORS
       
  Mr J.S.Lidder
  Mr R.S.Lidder
       
       
  SECRETARY
       
  Mr J.S.Lidder
       
  REGISTERED OFFICE
       
  74-77 Whinbush Road
Hitchin
Hertfordshire
SG5 1BZ
       
       
  COMPANY REGISTERED NUMBER
       
  04767846
       
       
  BANKERS
       
  Natwest Bank Plc
       
       
  ACCOUNTANT
       
  Haartwells
  Chartered Certified Accountants
  25 Park street West
Luton
Beds
LU1 3BE
       
  page 1
  HITCHIN CLUB 85 LTD
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 MAY 2023
       
       
       
  CONTENTS
       
  Pages
       
       
  3-4 Statement of Financial Position  
       
       
  5-8 Notes to the Financial Statements  
       
     
  page 2
  HITCHIN CLUB 85 LTD
  Company registered number: 04767846
  STATEMENT OF FINANCIAL POSITION AT 31 May 2023
           
    Note 2023 2022
      £ £ £
  FIXED ASSETS
  Intangible assets 3 60,000 60,000
  Property, plant and equipment 4 9,622 11,320
      69,622 71,320
  CURRENT ASSETS    
  Inventories   6,750 5,275
  Debtors 5 15,750 15,276
  Cash at bank and in hand   253,048 232,588
      275,548 253,139
  CREDITORS: Amounts falling due within one year 6 141,323 133,335
  NET CURRENT ASSETS   134,225 119,804
  TOTAL ASSETS LESS CURRENT LIABILITIES   203,847 191,124
           
  CREDITORS: Amounts falling due after more than one year 7 - (38,130)
  NET ASSETS   £203,847 £152,994
       
  CAPITAL AND RESERVES
  Called up share capital   100 100
  Retained earnings   203,747 152,894
  SHAREHOLDERS' FUNDS   £203,847 £152,994
       
  The notes on pages 5-8 form part of these financial statements
   
  page 3
  HITCHIN CLUB 85 LTD
  Company registered number: 04767846
  STATEMENT OF FINANCIAL POSITION AT 31 May 2023 (CONT.)
           
    Note 2023 2022
      £ £ £
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question 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 of its financial statements for the year ended 31 May 2023 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 15 February 2023
 
  Signed on behalf of the board of directors
 
 
       
  Mr R.S.Lidder, Director
       
       
  The notes on pages 5-8 form part of these financial statements
   
  page 4
  HITCHIN CLUB 85 LTD
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 MAY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  HITCHIN CLUB 85 LTD is a Private Limited Company incorporated in England and Wales..
         
  The company's registered number and registered office address can be found on the Company Information page.
         
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 June 2022.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
       
1e. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1f. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
  The notes on pages 5-8 form part of these financial statements
   
  page 5
  HITCHIN CLUB 85 LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1g. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1h. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1i. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1j. Foreign currencies
         
  Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2023 2022
       
  Management and administration 2 2
  Production and sales 1 3
    3 5
   
  The notes on pages 5-8 form part of these financial statements
   
  page 6
  HITCHIN CLUB 85 LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2023
       
       
3. INTANGIBLE FIXED ASSETS
       
    Goodwill Total
    £ £
  Cost
       
  At 1 June 2022 60,000 60,000
  At 31 May 2023 60,000 60,000
  Amortisation
       
  At 31 May 2023 - -
   
  Net Book Amounts
       
  At 31 May 2023 60,000 60,000
  At 31 May 2022 60,000 60,000
   
       
4. PROPERTY, PLANT AND EQUIPMENT
    Plant &  
    Machinery Total
    £ £
  Cost
       
  At 1 June 2022 99,768 99,768
       
  At 31 May 2023 99,768 99,768
   
  Depreciation
       
  At 1 June 2022 88,448 88,448
  For the year 1,698 1,698
  At 31 May 2023 90,146 90,146
   
  Net Book Amounts
       
  At 31 May 2023 9,622 9,622
  At 31 May 2022 11,320 11,320
   
  The notes on pages 5-8 form part of these financial statements
   
  page 7
  HITCHIN CLUB 85 LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2023
       
       
5. DEBTORS 2023 2022
    £ £
  Trade debtors 15,750 15,276
    £15,750 £15,276
   
       
       
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2023 2022
    £ £
  Debenture loans - 10,000
  Trade creditors 18,344 15,549
  Bills of exchange payable 4,500 -
  Corporation tax 16,465 13,190
  Other taxes and social security 7,401 6,247
  Other creditors 89,063 82,974
  Accruals and deferred income 5,550 5,375
    £141,323 £133,335
   
       
       
       
7. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2023 2022
    £ £
  Bank loans and overdrafts - 38,130
    £- £38,130
   
       
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  other - 10,000
    £- £10,000
   
  Due after five years:
  wholly or in part by instalments - 38,130
  otherwise than by instalments - -
    £- £38,130
   
  The notes on pages 5-8 form part of these financial statements
   
  page 8