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Registration number: 12017774

Havoc Performance Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Havoc Performance Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Havoc Performance Ltd

Company Information

Directors

Mr Ben Doe

Mr Robin Spijkers

Registered office

32 Dixon Business Centre
Dixon Road, Brislington
Bristol
Avon
BS4 5QW

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Havoc Performance Ltd

(Registration number: 12017774)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

         

Fixed assets

   

Tangible assets

4

 

2,623

7,116

Current assets

   

Debtors

5

660

 

214

Cash at bank and in hand

 

4,747

 

5,278

 

5,407

 

5,492

Creditors: Amounts falling due within one year

6

(42,439)

 

(36,518)

Net current liabilities

   

(37,032)

(31,026)

Total assets less current liabilities

   

(34,409)

(23,910)

Creditors: Amounts falling due after more than one year

6

 

(40,000)

(40,000)

Net liabilities

   

(74,409)

(63,910)

Capital and reserves

   

Called up share capital

2

 

2

Profit and loss account

(74,411)

 

(63,912)

Total equity

   

(74,409)

(63,910)

 

Havoc Performance Ltd

(Registration number: 12017774)
Balance Sheet as at 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 13 February 2024 and signed on its behalf by:
 

.........................................

Mr Ben Doe
Director

.........................................

Mr Robin Spijkers
Director

 

Havoc Performance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

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

The address of its registered office is:
32 Dixon Business Centre
Dixon Road, Brislington
Bristol
Avon
BS4 5QW

These financial statements were authorised for issue by the Board on 13 February 2024.

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.

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:

 

Havoc Performance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing Balance

Leasehold Improvements

Over term of lease

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Havoc Performance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2022

17,973

17,973

At 31 May 2023

17,973

17,973

Depreciation

At 1 June 2022

10,857

10,857

Charge for the year

4,493

4,493

At 31 May 2023

15,350

15,350

Carrying amount

At 31 May 2023

2,623

2,623

At 31 May 2022

7,116

7,116

5

Debtors

Current

2023
£

2022
£

Trade debtors

660

-

Other debtors

-

214

 

660

214

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

171

-

Accruals and deferred income

1,200

1,200

Other creditors

41,068

35,318

42,439

36,518

Creditors: amounts falling due after more than one year

2023
£

2022
£

Non-current loans and borrowings

Loans from Directors

40,000

40,000