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Registered number: 12553154
Hardys Sweetshop Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Accounting Tang Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12553154
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,000 7,000
Tangible Assets 5 8,636 10,655
14,636 17,655
CURRENT ASSETS
Stocks 6 8,347 21,940
Debtors 7 67,223 69,180
Cash at bank and in hand 1,290 2,076
76,860 93,196
Creditors: Amounts Falling Due Within One Year 8 (291,866 ) (178,619 )
NET CURRENT ASSETS (LIABILITIES) (215,006 ) (85,423 )
TOTAL ASSETS LESS CURRENT LIABILITIES (200,370 ) (67,768 )
NET LIABILITIES (200,370 ) (67,768 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (200,470 ) (67,868 )
SHAREHOLDERS' FUNDS (200,370) (67,768)
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Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Man
Director
13/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Hardys Sweetshop Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12553154 . The registered office is 12 St. Marys Gate, Stafford, ST16 2AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are trade mark. It is amortised to the profit and loss account over its estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2022: 14)
13 14
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4. Intangible Assets
Goodwill Intellectual Property Total
£ £ £
Cost
As at 1 January 2023 9,998 2 10,000
As at 31 December 2023 9,998 2 10,000
Amortisation
As at 1 January 2023 2,999 1 3,000
Provided during the period 1,000 - 1,000
As at 31 December 2023 3,999 1 4,000
Net Book Value
As at 31 December 2023 5,999 1 6,000
As at 1 January 2023 6,999 1 7,000
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 8,878 9,891 18,769
As at 31 December 2023 8,878 9,891 18,769
Depreciation
As at 1 January 2023 4,673 3,441 8,114
Provided during the period 1,051 968 2,019
As at 31 December 2023 5,724 4,409 10,133
Net Book Value
As at 31 December 2023 3,154 5,482 8,636
As at 1 January 2023 4,205 6,450 10,655
6. Stocks
2023 2022
£ £
Finished goods 8,347 21,940
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 4,078 4,226
Prepayments and accrued income 25,295 27,104
Other debtors 37,850 37,850
67,223 69,180
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 59,807 60,531
Other taxes and social security 3,610 480
VAT 36,318 21,408
Other creditors 174,425 90,465
Accruals and deferred income 17,706 5,735
291,866 178,619
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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