Hanwells of London Limited - Accounts to registrar (filleted) - small 18.2

Hanwells of London Limited - Accounts to registrar (filleted) - small 18.2

HANWELLS OF LONDON LIMITED - Company Information

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REGISTERED NUMBER: 02238846 (England and Wales)









Financial Statements

for the Year Ended 30 June 2019

for

Hanwells of London Limited
Hanwells of London Limited (Registered number: 02238846)






Contents of the Financial Statements
for the Year Ended 30 June 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hanwells of London Limited

Company Information
for the Year Ended 30 June 2019







DIRECTOR: S E Brown





REGISTERED OFFICE: 86 - 88 Uxbridge Road
Hanwell
London
W7 3SU





REGISTERED NUMBER: 02238846 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR
1
Hanwells of London Limited (Registered number: 02238846)

Balance Sheet
30 June 2019

2019 2018
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 86,727 92,509
86,727 92,509

CURRENT ASSETS
Inventories 1,444,275 1,610,974
Debtors 6 181,291 35,741
Cash in hand 267 338
1,625,833 1,647,053
CREDITORS
Amounts falling due within one year 7 (1,531,725 ) (1,601,659 )
NET CURRENT ASSETS 94,108 45,394
TOTAL ASSETS LESS CURRENT
LIABILITIES
180,835
137,903

CREDITORS
Amounts falling due after more than one
year
8
(33,778
)
(32,334
)
NET ASSETS 147,057 105,569

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 147,055 105,567
147,057 105,569

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

2 continued...
Hanwells of London Limited (Registered number: 02238846)

Balance Sheet - continued
30 June 2019


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 director and authorised for issue on 28 August 2020 and were
signed by:





S E Brown - Director


The notes form part of these financial statements

3
Hanwells of London Limited (Registered number: 02238846)

Notes to the Financial Statements
for the Year Ended 30 June 2019

1. STATUTORY INFORMATION

Hanwells of London 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.

Turnover
Revenue 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 2013, is being amortised evenly over its estimated useful life of five 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.
Plant and machinery etc - 25% on cost and 5% straight line

Stocks
Inventories 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.

4 continued...
Hanwells of London Limited (Registered number: 02238846)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2019

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2018 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2018
and 30 June 2019 300,000
AMORTISATION
At 1 July 2018
and 30 June 2019 300,000
NET BOOK VALUE
At 30 June 2019 -
At 30 June 2018 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2018
and 30 June 2019 123,912
DEPRECIATION
At 1 July 2018 31,403
Charge for year 5,782
At 30 June 2019 37,185
NET BOOK VALUE
At 30 June 2019 86,727
At 30 June 2018 92,509

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 164,664 30,765
Other debtors 16,627 4,976
181,291 35,741

5 continued...
Hanwells of London Limited (Registered number: 02238846)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2019

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Bank loans and overdrafts 5,323 124,470
Hire purchase contracts 68,000 17,666
Trade creditors 349,288 427,586
Taxation and social security 57,448 55,785
Other creditors 1,051,666 976,152
1,531,725 1,601,659

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Hire purchase contracts 33,778 32,334

6