Registration number:
Howard Co (2023) Limited
for the Period from 8 May 2023 to 31 March 2024
Howard Co (2023) Limited
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Howard Co (2023) Limited
(Registration number: 14853084)
Statement of Financial Position as at 31 March 2024
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2024 |
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Current assets |
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Stocks |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
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Profit and loss account |
12,625 |
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Shareholders' funds |
12,725 |
For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Howard Co (2023) Limited
Notes to the Unaudited Financial Statements for the Period from 8 May 2023 to 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Principal activity
The principal activity of the company is online retail sales.
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
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.
Howard Co (2023) Limited
Notes to the Unaudited Financial Statements for the Period from 8 May 2023 to 31 March 2024 (continued)
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Accounting policies (continued) |
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Financial instruments
Recognition and measurement
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Stocks |
2024 |
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Raw materials and consumables |
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Debtors |
2024 |
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Other debtors |
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Howard Co (2023) Limited
Notes to the Unaudited Financial Statements for the Period from 8 May 2023 to 31 March 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
2024 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses.