Company registration number 02652394 (England and Wales)
HAY HAMPERS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HAY HAMPERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HAY HAMPERS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
21,775
Current assets
Stocks
-
714,181
Debtors
5
508,978
Cash at bank and in hand
421,745
1,644,904
Creditors: amounts falling due within one year
6
(1,060,047)
Net current assets
584,857
Net assets
606,632
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(2)
606,630
Total equity
606,632
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 February 2024 and are signed on its behalf by:
Mr P Yeates
Director
Company registration number 02652394 (England and Wales)
HAY HAMPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Hay Hampers Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).
1.1
Accounting convention
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 provision of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1996, is being amortised evenly over its estimated useful life of twenty years.
1.4
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on cost
Computers
33% on cost
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.6
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.
HAY HAMPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
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 the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period 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.
1.7
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
11
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023
121,900
Disposals
(121,900)
At 31 December 2023
Amortisation and impairment
At 1 January 2023
121,900
Disposals
(121,900)
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
HAY HAMPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
46,863
1,445
17,188
65,496
Disposals
(46,863)
(1,445)
(17,188)
(65,496)
At 31 December 2023
Depreciation and impairment
At 1 January 2023
29,649
963
13,109
43,721
Eliminated in respect of disposals
(29,649)
(963)
(13,109)
(43,721)
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
17,214
482
4,079
21,775
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
398,916
Other debtors
100,560
Prepayments and accrued income
9,502
508,978
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
531,365
Amounts owed to group undertakings
272,157
Corporation tax
48,424
Other taxation and social security
82,617
Accruals and deferred income
125,484
1,060,047
HAY HAMPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Michael T Moran BA FCA
Statutory Auditor:
Robson Laidler Accountants Limited
Date of audit report:
19 March 2024
8
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.