Huntley & Palmers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04338618 (England and Wales)

Financial Statements

for the Year Ended 31st October 2019

for

HUNTLEY & PALMERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H L Freeman

Mrs L B Freeman

M Freeman

T Freeman

B Freeman

SECRETARY:

Mrs L B Freeman

REGISTERED OFFICE:

National Distribution Centre

Fryers Road

Bloxwich

Walsall

West Midlands

WS2 7LZ

REGISTERED NUMBER:

04338618 (England and Wales)

SENIOR STATUTORY AUDITOR:

John Davis

AUDITORS:

Bakers, Statutory Auditor

(The practising name of

Baker (Midlands) Limited)

Arbor House

Broadway North

Walsall

WS1 2AN

FIXED ASSETS

Intangible assets

5

20,308

40,616

CURRENT ASSETS

Stocks

20,062

25,427

Debtors

6

25,536

12,739

Cash at bank

193,408

177,661

239,006

215,827

CREDITORS

Amounts falling due within one year

7

277,812

271,021

NET CURRENT LIABILITIES

(38,806

)

(55,194

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(18,498

)

(14,578

)

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

(19,498

)

(15,578

)

SHAREHOLDERS' FUNDS

(18,498

)

(14,578

)

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 and authorised for issue on 24th July 2020 and were signed on its behalf by:

Mrs L B Freeman - Director

1.	STATUTORY INFORMATION

Huntley & Palmers 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 financial statements are presented in sterling which is the functional currency of the company and rounded

to the nearest £1.

The significant accounting policies applied in preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the

amounts reported for revenues and expenses during the year. However the nature of estimation means that

actual outcomes could differ from those estimates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts.The policy adopted for the recognition of turnover is as follows:

Sale of Goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods

have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the

economic benefits associated with the transaction will flow to the company and the costs incurred or to be

incurred in respect of the transaction can be measured reliably . This is usually on the dispatch of goods.

Intangible fixed assets

The intangible fixed assets are in respect of trademarks which are being amortized over their estimated useful

economic lives of five years.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes

all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and

slow-moving stock where appropriate.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the

current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax

rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax represents the future tax consequences of transactions and events recognised in the financial

statements of current and previous periods. It is recognised in respect of all timing differences, with certain

exceptions. Timing differences are differences between taxable profits and total comprehensive income as

stated in the financial statements that arise from the inclusion of income and expense in tax assessments in

periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the

balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued

non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances

that apply to the sale of the asset.

Going concern

The financial statements have been drawn up on a going concern basis based upon the continuing support of

the parent company who have indicated they will not require repayment of amounts due to them such as

would bring such basis into doubt.

Short term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Cash and cash equivalents

Cash comprise cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments

that mature in no more than three months from the date of acquisition and that are readily convertible to

known amounts of cash with an insignificant risk of change in value.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an

arrangement constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past

event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be

reliably estimated.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each

balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating

unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable

amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount

where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	AUDITORS' REMUNERATION

2019

2018

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

500

500

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st November 2018

and 31st October 2019

101,540

AMORTISATION

At 1st November 2018

60,924

Charge for year

20,308

At 31st October 2019

81,232

NET BOOK VALUE

At 31st October 2019

20,308

At 31st October 2018

40,616

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

23,283

4,727

Amounts owed by group undertakings

-

3,200

Other debtors

2,253

4,812

25,536

12,739

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

24,667

18,621

Amounts owed to group undertakings

250,745

250,000

Other creditors

2,400

2,400

277,812

271,021

Included in other creditors are accruals of £2,400 (2018 - £2,400)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Davis (Senior Statutory Auditor)

for and on behalf of Bakers, Statutory Auditor

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Freemans Holdings Limited, a company incorporated in Guernsey.