Company Registration No. 05146860 (England and Wales)
HANDIWORLD LIMITED
Unaudited accounts
for the year ended 31 December 2019
HANDIWORLD LIMITED
Unaudited accounts
Contents
HANDIWORLD LIMITED
Company Information
for the year ended 31 December 2019
Directors
Toby Davis
Michael Richard Moody
Anthony Carson Shepherd
Secretary
Christopher William Szpak
Company Number
05146860 (England and Wales)
Registered Office
Salisbury House
London Wall
London
EC2M 5PS
England
Accountants
Fox Accountancy Limited
144 Hall Lane
Upminster
Essex
RM14 1AT
HANDIWORLD LIMITED
Statement of financial position
as at 31 December 2019
Intangible assets
24,639
26,410
Inventories
118,875
97,104
Cash at bank and in hand
46,724
126,897
Creditors: amounts falling due within one year
(271,415)
(226,830)
Net current assets
6,545
111,304
Called up share capital
169,962
163,629
Share premium
915,628
902,963
Profit and loss account
(1,054,406)
(928,878)
Shareholders' funds
31,184
137,714
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2020 and were signed on its behalf by
Toby Davis
Director
Company Registration No. 05146860
HANDIWORLD LIMITED
Notes to the Accounts
for the year ended 31 December 2019
HANDIWORLD LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05146860. The registered office is Salisbury House, London Wall, London, EC2M 5PS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The Directors agreed to write off the development costs of the Camba wheel and Trippy
HANDIWORLD LIMITED
Notes to the Accounts
for the year ended 31 December 2019
4
Intangible fixed assets
Goodwill
At 31 December 2019
187,661
At 31 December 2019
163,022
At 31 December 2019
24,639
At 31 December 2018
26,410
Patents are being written off in equal annual installments over their estimated economic life of 10 and 20 years.
Research and development is being written off over 3 years.
Finished goods
118,875
97,104
Trade debtors
44,435
11,799
Accrued income and prepayments
44,176
9,328
Other debtors
23,750
93,006
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Creditors: amounts falling due within one year
2019
2018
Trade creditors
30,869
15,920
Taxes and social security
10,348
(4,599)
Other creditors
201,699
200,630
Prior to this year the company issued loan stock in the sum of £200,000. Interest is payable at 6% over the HSBC base rate, the final repayment date being 31st December 2020.
The net loan stock balance of £200,000 is included within other creditors.
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Average number of employees
During the year the average number of employees was 1 (2018: 1).
