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Registration number: 02699860

Henley Mouldings Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 December 2023

 

Henley Mouldings Limited

Contents

Accountants' Report

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Henley Mouldings Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Henley Mouldings Limited for the year ended 31 December 2023 as set out on pages 2 to 5 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/regulation.

This report is made solely to the Board of Directors of Henley Mouldings Limited, as a body, in accordance with the terms of our engagement letter dated 11 April 2014. Our work has been undertaken solely to prepare for your approval the accounts of Henley Mouldings Limited and state those matters that we have agreed to state to the Board of Directors of Henley Mouldings Limited, 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 Henley Mouldings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Henley Mouldings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Henley Mouldings Limited. You consider that Henley Mouldings Limited 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 accounts of Henley Mouldings Limited. 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 accounts.

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Stewart & Co Accountants LLP
Chartered Accountants
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

15 April 2024

 

Henley Mouldings Limited

(Registration number: 02699860)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

375,000

375,000

Other financial assets

5

26,649

26,156

 

401,649

401,156

Current assets

 

Debtors

6

3,136

3,118

Cash at bank and in hand

 

40,628

23,606

 

43,764

26,724

Creditors: Amounts falling due within one year

7

(235,564)

(233,146)

Net current liabilities

 

(191,800)

(206,422)

Net assets

 

209,849

194,734

Capital and reserves

 

Called up share capital

200

200

Fair value reserve

69,764

71,176

Profit and loss account

139,885

123,358

Shareholders' funds

 

209,849

194,734

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 15 April 2024
 

.........................................
Mr W Khan
Director

 

Henley Mouldings Limited

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

1

General information

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

The address of its registered office is: Tweenways, Kingshill Road, High Wycombe, Bucks, HP13 5AW.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the rental income from investment property and is recognised as revenue on a straight-line basis over the lease term. Lease incentives such as rent-free periods are recognised on the same straight-line basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

 

Henley Mouldings Limited

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

Trade debtors

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

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from related parties.

3

Staff numbers

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

4

Investment properties

2023
£

At 1 January 2023

375,000

At 31 December 2023

375,000

The investment property has been revalued during the reporting period by Phillip Mawby BSc (Hons) DipArb MRICS ACIArb of Duncan Bailey Kennedy LLP. In arriving at their value, they have used the comparable and investment methods of valuation.

 

Henley Mouldings Limited

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

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

26,156

26,156

Fair value adjustments

(1,412)

(1,412)

Additions

1,905

1,905

At 31 December 2023

26,649

26,649

Carrying amount

At 31 December 2023

26,649

26,649

6

Debtors

2023
£

2022
£

Trade debtors

2,871

2,871

Prepayments

265

247

3,136

3,118

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Taxation and social security

3,857

3,572

Accruals and deferred income

2,413

2,280

Other creditors

229,294

227,294

235,564

233,146