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REGISTERED NUMBER: 11383855 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 May 2023

for

The Heartwood and Knot Company Limited

The Heartwood and Knot Company Limited (Registered number: 11383855)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Heartwood and Knot Company Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mrs L A Bennett





REGISTERED OFFICE: 1 New Inn Close
Swanmore
Hampshire
SO32 2RJ





REGISTERED NUMBER: 11383855 (England and Wales)





ACCOUNTANTS: Behegan Lynes
Accountancy & Taxation Advisers
Bank Chambers
Brook Street
Bishops Waltham
Hampshire
SO32 1AX

The Heartwood and Knot Company Limited (Registered number: 11383855)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 702 936

CURRENT ASSETS
Stocks 4,347 4,347
Cash at bank 7 -
4,354 4,347
CREDITORS
Amounts falling due within one year 5 9,937 9,443
NET CURRENT LIABILITIES (5,583 ) (5,096 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,881

)

(4,160

)

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings (4,882 ) (4,161 )
SHAREHOLDERS' FUNDS (4,881 ) (4,160 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

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 director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 February 2024 and were signed by:





Mrs L A Bennett - Director


The Heartwood and Knot Company Limited (Registered number: 11383855)

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

1. STATUTORY INFORMATION

The Heartwood and Knot Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis due to the continued support of the director. The company meets its day-to-day working capital requirements through this support and the director expects this to continue for at least one year from the date of signing these financial statements.

If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise, and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tools & office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


The Heartwood and Knot Company Limited (Registered number: 11383855)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Tools &
office
equipment
£   
COST
At 1 June 2022
and 31 May 2023 2,604
DEPRECIATION
At 1 June 2022 1,668
Charge for year 234
At 31 May 2023 1,902
NET BOOK VALUE
At 31 May 2023 702
At 31 May 2022 936

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts - 8
Trade creditors 396 30
Other creditors 9,541 9,405
9,937 9,443

The Heartwood and Knot Company Limited (Registered number: 11383855)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 Ordinary £1 1 1