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Company registration number: 08359854
Andrea Hawkes Ltd
Unaudited filleted financial statements
31 January 2024
Andrea Hawkes Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Andrea Hawkes Ltd
Directors and other information
Directors Mrs Andrea Ayres
Mr Daniel Ayres (Appointed 29 January 2024)
Secretary Andrea Hawkes
Company number 08359854
Registered office Newton Studio
Newton
Henlow
Beds
SG16 6AJ
Business address 36 Danbury Street
London
N1 8JU
Accountants Hicks and Company
Chartered Accountants
83 High Street
Hemel Hempstead
Herts
HP1 3AH
Andrea Hawkes Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Andrea Hawkes Ltd
Year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andrea Hawkes Ltd for the year ended 31 January 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Andrea Hawkes Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Andrea Hawkes Ltd and state those matters that we have agreed to state to the board of directors of Andrea Hawkes Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andrea Hawkes Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Andrea Hawkes Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Andrea Hawkes Ltd. You consider that Andrea Hawkes Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Andrea Hawkes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
83 High Street
Hemel Hempstead
Herts
HP1 3AH
7 August 2024
Andrea Hawkes Ltd
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 68,805 67,254
_______ _______
68,805 67,254
Current assets
Stocks 53,113 69,500
Debtors 6 7,187 10,409
Cash at bank and in hand 27,814 20,202
_______ _______
88,114 100,111
Creditors: amounts falling due
within one year 7 ( 227,193) ( 238,072)
_______ _______
Net current liabilities ( 139,079) ( 137,961)
_______ _______
Total assets less current liabilities ( 70,274) ( 70,707)
_______ _______
Net liabilities ( 70,274) ( 70,707)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 70,275) ( 70,708)
_______ _______
Shareholders deficit ( 70,274) ( 70,707)
_______ _______
For the year ending 31 January 2024 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 August 2024 , and are signed on behalf of the board by:
Mr Daniel Ayres
Director
Company registration number: 08359854
Andrea Hawkes Ltd
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Newton Studio, Newton, Henlow, Beds, SG16 6AJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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 follows:
Studio workshop - Over 50 years
Display sample collection - 25 % straight line
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
Computer equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A 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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Stocks
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 stocks to their present location and condition.
Financial instruments
A 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Long leasehold property Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Computer equipment Total
£ £ £ £ £ £ £
Cost
At 1 February 2023 59,782 37,887 6,989 7,007 39,169 10,176 161,010
Additions - - 12,188 - - 2,315 14,503
_______ _______ _______ _______ _______ _______ _______
At 31 January 2024 59,782 37,887 19,177 7,007 39,169 12,491 175,513
_______ _______ _______ _______ _______ _______ _______
Depreciation
At 1 February 2023 18,791 33,435 6,989 6,395 22,002 6,146 93,758
Charge for the year 2,989 1,113 3,047 153 4,667 981 12,950
_______ _______ _______ _______ _______ _______ _______
At 31 January 2024 21,780 34,548 10,036 6,548 26,669 7,127 106,708
_______ _______ _______ _______ _______ _______ _______
Carrying amount
At 31 January 2024 38,002 3,339 9,141 459 12,500 5,364 68,805
_______ _______ _______ _______ _______ _______ _______
At 31 January 2023 40,991 4,452 - 612 17,167 4,030 67,252
_______ _______ _______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Other debtors 7,187 10,409
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 23,429 41,832
Corporation tax 9,746 -
Social security and other taxes 479 917
Other creditors 193,539 195,323
_______ _______
227,193 238,072
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs Andrea Ayres ( 83,774) 8,214 ( 75,560)
Mr Daniel Ayres ( 97,601) ( 6,586) ( 104,187)
_______ _______ _______
( 181,375) 1,628 ( 179,747)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs Andrea Ayres ( 83,774) - ( 83,774)
Mr Daniel Ayres ( 90,861) ( 6,740) ( 97,601)
_______ _______ _______
( 174,635) ( 6,740) ( 181,375)
_______ _______ _______
9. Controlling party
The company was controlled throughout the current and previous period by the director Andrea Hawkes by virtue of the fact that she owns all of the company's ordinary share capital.