Speedy Hen Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06862611 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2019

FOR

SPEEDY HEN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

Mr S T Little

Mr J M Little

Miss C Little

REGISTERED OFFICE:

Unit 1

Falcon Park

Neasden Lane

London

NW10 1RZ

REGISTERED NUMBER:

06862611 (England and Wales)

ACCOUNTANTS:

Honey Barrett Limited

Chartered Accountants

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

FIXED ASSETS

Tangible assets

5

901

40

Investments

6

67

67

968

107

CURRENT ASSETS

Stocks

-

262

Debtors

7

217,831

305,146

Investments

8

504,548

491,863

Cash at bank

1,523,915

1,325,781

2,246,294

2,123,052

CREDITORS

Amounts falling due within one year

9

757,057

884,864

NET CURRENT ASSETS

1,489,237

1,238,188

TOTAL ASSETS LESS CURRENT LIABILITIES

1,490,205

1,238,295

PROVISIONS FOR LIABILITIES

10

1,029

-

NET ASSETS

1,489,176

1,238,295

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

1,489,056

1,238,175

SHAREHOLDERS' FUNDS

1,489,176

1,238,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 December 2019 and were signed on its behalf by:

Mr S T Little - Director

1.	STATUTORY INFORMATION

Speedy Hen 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

The directors are confident that the company has the required resources to continue in

operational existence for the foreseeable future, and therefore continue to adopt the going

concern basis of accounting in preparing the annual report and accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

The turnover shown in the profit and loss account represents goods dispatched to customers

or for goods ordered via certain platforms, goods ordered and paid for.

Tangible fixed assets

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

Equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the

recognition of financial assets and liabilities, like trade and other accounts receivable and

payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including

loans and other accounts receivable and payable, are initially measured at the present value

of the future cash flows and subsequently measured at amortised cost using the effective

interest method. Debt instruments that are payable or receivable within one year, typically

trade payables or receivables, are measured, initially and subsequently, at the undiscounted

transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the

payment of a trade debt deferred beyond normal business terms or financed at a rate of

interest that is not a market rate, the financial asset or liability is measured, initially, at the

present value of the future cash flow discounted at a market rate of interest for a similar debt

instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the

difference between an asset's carrying amount and the present value of the estimated cash

flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as

the difference between an asset's carrying amount and best estimate of the recoverable

amount, which is an approximation of the amount that the Company would receive for the

asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the

contractual arrangements entered into. An equity instrument is any contract that evidences a

residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are

equivalent to a similar debt instrument, those financial instruments are classed as financial

liabilities. Financial liabilities are presented as such in the balance sheet and measured as

detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of

a financial liability then this is classed as an equity instrument. Dividends and distributions

relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability

using the effective interest method so that the amount charged is at a constant rate on the

carrying amount.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 April 2018

107

Additions

899

At 31 March 2019

1,006

DEPRECIATION

At 1 April 2018

67

Charge for year

38

At 31 March 2019

105

NET BOOK VALUE

At 31 March 2019

901

At 31 March 2018

40

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

67

NET BOOK VALUE

At 31 March 2019

67

At 31 March 2018

67

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

163,423

234,046

Other debtors

3,749

-

Directors' current accounts

-

212

VAT

41,253

67,425

Deferred tax asset

-

1,546

Prepayments and accrued income

9,406

1,917

217,831

305,146

8.	CURRENT ASSET INVESTMENTS

2019

2018

£

£

Listed investments

504,548

491,863

Market value of listed investments at 31 March 2019 - £ 504,548 (2018 - £ 491,863 ).

The listed investments at the year end are included at market value. Any change in the

valuation is reflected in the profit and loss account.

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

67

-

Trade creditors

629,476

740,293

Corporation tax

84,518

101,253

Company credit card

326

333

Credit notes provision

-

7,250

Other creditors

2,899

3,799

Directors' current accounts

92

-

Accruals and deferred income

39,679

31,936

757,057

884,864

10.	PROVISIONS FOR LIABILITIES

2019

£

Deferred tax

Accelerated capital allowances

148

Deferred tax on revalued

investments

881

1,029

Deferred

tax

£

Balance at 1 April 2018

(1,546

)

Provided during year

2,575

Balance at 31 March 2019

1,029

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of Speedy Hen Limited for the year ended 31 March 2019

which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Speedy Hen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Speedy Hen Limited and state those matters that we have agreed to state to the Board of Directors of Speedy Hen Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Speedy Hen Limited and its Board of Directors, as a body, for our work or for this report.

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

Honey Barrett Limited

Chartered Accountants

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

9 December 2019