Kent Tackle (Hawkhurst) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07205742 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

KENT TACKLE (HAWKHURST) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

B J Hubble

K Muzeen

REGISTERED OFFICE:

20 Havelock Road

Hastings

East Sussex

TN34 1BP

REGISTERED NUMBER:

07205742 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

FIXED ASSETS

Intangible assets

4

1,000

2,000

Tangible assets

5

17,260

22,398

18,260

24,398

CURRENT ASSETS

Stocks

205,000

225,419

Debtors

6

365,661

326,636

Cash at bank and in hand

17,338

35,661

587,999

587,716

CREDITORS

Amounts falling due within one year

7

95,367

115,503

NET CURRENT ASSETS

492,632

472,213

TOTAL ASSETS LESS CURRENT LIABILITIES

510,892

496,611

CREDITORS

Amounts falling due after more than one year

8

(212,000

)

(212,000

)

PROVISIONS FOR LIABILITIES

(2,750

)

(3,118

)

NET ASSETS

296,142

281,493

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

296,042

281,393

SHAREHOLDERS' FUNDS

296,142

281,493

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 27 December 2019 and were signed on its behalf by:

B J Hubble - Director

1.	STATUTORY INFORMATION

Kent Tackle (Hawkhurst) 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.	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 directors have made an assessment about the company's ability to continue as a going concern and they do

not consider there to be any material uncertainties. As a result they have adopted the going concern basis of

accounting.

Turnover

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

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

15% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

10,000

AMORTISATION

At 1 April 2018

8,000

Charge for year

1,000

At 31 March 2019

9,000

NET BOOK VALUE

At 31 March 2019

1,000

At 31 March 2018

2,000

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

8,353

16,726

31,125

18,167

74,371

Additions

-

-

1,103

510

1,613

Disposals

-

(4,667

)

-

-

(4,667

)

At 31 March 2019

8,353

12,059

32,228

18,677

71,317

DEPRECIATION

At 1 April 2018

6,077

9,462

18,955

17,479

51,973

Charge for year

341

1,324

2,280

837

4,782

Eliminated on disposal

-

(2,698

)

-

-

(2,698

)

At 31 March 2019

6,418

8,088

21,235

18,316

54,057

NET BOOK VALUE

At 31 March 2019

1,935

3,971

10,993

361

17,260

At 31 March 2018

2,276

7,264

12,170

688

22,398

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

364,232

326,511

Prepayments

1,429

125

365,661

326,636

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

66,915

82,811

Tax

11,607

12,778

Social security and other taxes

304

6,151

VAT

697

2,967

Other creditors

4,441

4,441

Directors' current accounts

9,253

4,202

Accrued expenses

2,150

2,153

95,367

115,503

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Directors Loan

212,000

212,000

9.	LEASING AGREEMENTS

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

31.3.19

31.3.18

£

£

Within one year

25,413

25,413

Between one and five years

-

25,413

25,413

50,826

10.	RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £221,253 (2018:£216,202) to its directors which is split as

follows:

Short Term

2019

2018

Ben Hubble

£9,253

£4,202

Total Short Term

£9,253

£4,202

Long Term

Ben Hubble

£147,000

£147,000

Karen Muzeen

£65,000

£65,000

Total Long Term

£212,000

£212,000

The loan has no terms attached.

As at the balance sheet date the company was owed £357,982 (2018 £320,261) by ET Pursuits Ltd, a company

which Mr Hubble is a joint director and 50% shareholder. This loan has no terms attached.

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 Kent Tackle (Hawkhurst) 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 Kent Tackle (Hawkhurst) 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 Kent Tackle (Hawkhurst) Limited and state those matters that we have agreed to state to the Board of Directors of Kent Tackle (Hawkhurst) 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 Kent Tackle (Hawkhurst) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kent Tackle (Hawkhurst) 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 Kent Tackle (Hawkhurst) Limited. You consider that Kent Tackle (Hawkhurst) 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 Kent Tackle (Hawkhurst) 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.

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

27 December 2019