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Company registration number: 14608137
Hort Culture Ltd
Unaudited filleted financial statements
31 January 2024
Hort Culture Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Hort Culture Ltd
Directors and other information
Director Mr Mark O'Mara (Appointed 20 January 2023)
Company number 14608137
London
SE17 3HR
Business address 130 Olney Road
London
SE17 3HR
Accountants Murphy Collins Limited
Sovereign House
82 West Street
Rochford
Essex
SS4 1AS
Hort Culture Ltd
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Hort Culture Ltd
Period 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 Hort Culture Ltd for the period ended 31 January 2024 which comprise the statement of financial position, statement of changes in equity 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 director of Hort Culture 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 Hort Culture Ltd and state those matters that we have agreed to state to them, 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 Hort Culture Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Hort Culture 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 Hort Culture Ltd. You consider that Hort Culture Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Hort Culture 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.
Murphy Collins Limited
Chartered Accountants
Sovereign House
82 West Street
Rochford
Essex
SS4 1AS
16 August 2024
Hort Culture Ltd
Statement of financial position
31 January 2024
31/01/24
Note £ £
Fixed assets
Tangible assets 5 10,883
_______
10,883
Current assets
Debtors 6 3,208
Cash at bank and in hand 5,668
_______
8,876
Creditors: amounts falling due
within one year 7 ( 9,140)
_______
Net current liabilities ( 264)
_______
Total assets less current liabilities 10,619
Provisions for liabilities ( 886)
_______
Net assets 9,733
_______
Capital and reserves
Called up share capital 1
Profit and loss account 9,732
_______
Shareholder funds 9,733
_______
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
Mr Mark O'Mara
Director
Company registration number: 14608137
Hort Culture Ltd
Statement of changes in equity
Period ended 31 January 2024
Called up share capital Profit and loss account Total
£ £ £
At 20 January 2023 1 - 1
Profit for the period 23,302 23,302
_______ _______ _______
Total comprehensive income for the period - 23,302 23,302
Dividends paid and payable ( 13,570) ( 13,570)
_______ _______ _______
Total investments by and distributions to owners - ( 13,570) ( 13,570)
_______ _______ _______
At 31 January 2024 1 9,732 9,733
_______ _______ _______
Hort Culture Ltd
Notes to the financial statements
Period 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 130 Olney Road, London, SE17 3HR.
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.
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:
Computer Equipment - 25 % straight line
Motor vehicles - 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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 20 January 2023 - - - -
Additions 3,608 903 10,000 14,511
_______ _______ _______ _______
At 31 January 2024 3,608 903 10,000 14,511
_______ _______ _______ _______
Depreciation
At 20 January 2023 - - - -
Charge for the year 902 226 2,500 3,628
_______ _______ _______ _______
At 31 January 2024 902 226 2,500 3,628
_______ _______ _______ _______
Carrying amount
At 31 January 2024 2,706 677 7,500 10,883
_______ _______ _______ _______
6. Debtors
31/01/24
£
Trade debtors 2,373
Other debtors 835
_______
3,208
_______
7. Creditors: amounts falling due within one year
31/01/24
£
Corporation tax 4,763
Other creditors 4,377
_______
9,140
_______
8. Directors advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Period ended 31/01/24
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Mark O'Mara - ( 12,107) 10,000 ( 2,107)
_______ _______ _______ _______
9. Controlling party
Mark O'Mara is the Controlling party.