Speedy Hen Limited - Accounts to registrar (filleted) - small 18.2
Speedy Hen Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 MARCH 2020 |
| FOR |
| SPEEDY HEN LIMITED |
| SPEEDY HEN LIMITED (REGISTERED NUMBER: 06862611) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SPEEDY HEN LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 53 Gildredge Road |
| Eastbourne |
| East Sussex |
| BN21 4SF |
| SPEEDY HEN LIMITED (REGISTERED NUMBER: 06862611) |
| BALANCE SHEET |
| 31 MARCH 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors: amounts falling due within one year |
7 |
| Investments | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| SPEEDY HEN LIMITED (REGISTERED NUMBER: 06862611) |
| BALANCE SHEET - continued |
| 31 MARCH 2020 |
| 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. |
| 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 |
| SPEEDY HEN LIMITED (REGISTERED NUMBER: 06862611) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| Speedy Hen Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The company has prepared these accounts on a going concern basis, however there are material uncertainties in respect of COVID-19 and management have taken into consideration the potential effects of coronavirus on the activities of the business in future. |
| Turnover |
| The turnover shown in the profit and loss account represents goods dispatched to customers or for goods ordered via certain platforms, goods ordered and paid for. |
| Tangible fixed assets |
| Equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| SPEEDY HEN LIMITED (REGISTERED NUMBER: 06862611) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties. |
| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment. |
| If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date. |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above. |
| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
| Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount. |
| SPEEDY HEN LIMITED (REGISTERED NUMBER: 06862611) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| 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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SPEEDY HEN LIMITED (REGISTERED NUMBER: 06862611) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Equipment |
| £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2019 |
| Additions |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| VAT |
| Deferred tax asset |
| Prepayments and accrued income |
| SPEEDY HEN LIMITED (REGISTERED NUMBER: 06862611) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 8. | CURRENT ASSET INVESTMENTS |
| 2020 | 2019 |
| £ | £ |
| Listed investments | 453,553 | 504,548 |
| Unlisted investments | 199,900 | - |
| Market value of listed investments at 31 March 2020 - £ 453,553 (2019 - £ 504,548 ). |
| The listed investments at the year end are included at market value. Any change in the valuation is reflected in the profit and loss account. |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| PAYE and social security |
| Company credit card |
| Foreign VAT payable | 76,328 | 2,899 |
| Directors' current accounts | 97 | 92 |
| Accruals and deferred income |
| 10. | PROVISIONS FOR LIABILITIES |
| 2019 |
| £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred tax on revalued |
| investments | 864 |
| 1,029 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2019 |
| Provided during year | ( |
) |
| Investments revaluation | (9,689 | ) |
| Balance at 31 March 2020 | ( |
) |