Harrow & Hope Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04718208 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Harrow & Hope Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K Laithwaite

Mr H J H Laithwaite

SECRETARY:

Mrs K Laithwaite

REGISTERED OFFICE:

Marlow Winery Pump

Lane North

Marlow

Buckinghamshire

SL7 3RD

REGISTERED NUMBER:

04718208 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Tangible assets

4

595,782

629,253

CURRENT ASSETS

Stocks

599,565

456,515

Debtors

5

146,396

139,449

Cash at bank

65,019

28,924

810,980

624,888

CREDITORS

Amounts falling due within one year

6

(1,672,293

)

(1,562,822

)

NET CURRENT LIABILITIES

(861,313

)

(937,934

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(265,531

)

(308,681

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(265,532

)

(308,682

)

SHAREHOLDERS' FUNDS

(265,531

)

(308,681

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6 August 2019 and were signed on its behalf by:

Mr H J H Laithwaite - Director

Mrs K Laithwaite - Director

1.	STATUTORY INFORMATION

Harrow & Hope Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared on a going concern basis as in the opinion of the directors the company

has sufficient finance available to it to meet its obligations as they fall due for the foreseeable

future, that is at least 12 months from the date of approval of the accounts.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

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. Revenue is recognised

once title of goods has been transferred to the customer, net of value added tax, rebates and

discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method,

except for investments in non-convertible preference and non-puttable preference and ordinary

shares, which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and therefore at fair value, with changes

recognised in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, 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.

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 financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving

at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

1,075,983

Additions

81,852

At 31 December 2018

1,157,835

DEPRECIATION

At 1 January 2018

446,730

Charge for year

115,323

At 31 December 2018

562,053

NET BOOK VALUE

At 31 December 2018

595,782

At 31 December 2017

629,253

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

51,653

53,402

Other debtors

94,743

86,047

146,396

139,449

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

4,445

-

Taxation and social security

9,607

3,441

Other creditors

1,658,241

1,559,381

1,672,293

1,562,822

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.18

31.12.17

£

£

Within one year

11,484

10,846

Between one and five years

26,796

38,280

38,280

49,126

8.	RELATED PARTY DISCLOSURES

As at the year-end, the company owed Mr H Laithwaite, a director of the company, a balance of

£1,656,173 (2017: £1,556,173).

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr H J H Laithwaite.