ACCOUNTS - Final Accounts preparation

HAYGROVE CONSULTANTS LIMITED - Company Information

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Registered number: 11828180

HAYGROVE CONSULTANTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 FEBRUARY 2020

HAYGROVE CONSULTANTS LIMITED

REGISTERED NUMBER: 11828180

BALANCE SHEET

AS AT 29 FEBRUARY 2020

		2020
Note		£

Fixed assets
Tangible assets	4		1,125
			1,125
Current assets
Debtors: amounts falling due within one year	5	1,832
Cash at bank and in hand	6	7,987
		9,819
Creditors: amounts falling due within one year	7	(7,916)
Net current assets			1,903
Total assets less current liabilities			3,028

Net assets			3,028

Capital and reserves
Called up share capital			1
Profit and loss account			3,027
			3,028

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HAYGROVE CONSULTANTS LIMITED

REGISTERED NUMBER: 11828180

BALANCE SHEET (CONTINUED)

AS AT 29 FEBRUARY 2020

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 August 2020.

................................................

Jeremy Stadward

Director

The notes on pages 3 to 6 form part of these financial statements.

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HAYGROVE CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 FEBRUARY 2020

1.	General information

The company is a private company limited by shares incorporated in England and Wales on 15 February 2019. The company started trading on 20 January 2020 and the principal activity throughout the year was the provision of consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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HAYGROVE CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 FEBRUARY 2020

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings

25%

Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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 insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the period was 1.

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HAYGROVE CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 FEBRUARY 2020

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	Additions	1,500
	At 29 February 2020	1,500
	Depreciation
	Charge for the period on owned assets	375
	At 29 February 2020	375
	Net book value
	At 29 February 2020	1,125

Debtors

					2020
					£


	Trade debtors	1,832
		1,832

6.	Cash and cash equivalents
		2020
		£

	Cash at bank and in hand	7,987
		7,987

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HAYGROVE CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 29 FEBRUARY 2020

7.	Creditors: Amounts falling due within one year
		2020
		£

	Corporation tax	1,260
	Other creditors	6,054
	Accruals and deferred income	602
		7,916

Included in Other creditors is £6,054 owed to the director, Jeremy Stadward.

8.	Financial instruments
		2020
		£

	Financial assets
	Financial assets measured at fair value through profit or loss	7,987

Financial assets measured at fair value through profit or loss comprise cash at bank.

9.	Controlling party

The company is controlled by Jeremy Stadward, the director and shareholder.

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