Heffron Equine Limited

Heffron Equine Limited

HEFFRON EQUINE LIMITED - Company Information

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1 August 2019 false No description of principal activity Taxfiler 2021.2.1 NI619493business:PrivateLimitedCompanyLtd2019-08-012020-07-31 NI6194932019-07-31 NI6194932019-08-012020-07-31 NI619493business:AuditExemptWithAccountantsReport2019-08-012020-07-31 NI619493business:FullAccounts2019-08-012020-07-31 NI6194932020-07-31 NI6194932019-07-31 NI619493core:WithinOneYear2020-07-31 NI619493core:WithinOneYear2019-07-31 NI619493core:ShareCapital2020-07-31 NI619493core:ShareCapital2019-07-31 NI619493core:RetainedEarningsAccumulatedLosses2020-07-31 NI619493core:RetainedEarningsAccumulatedLosses2019-07-31 NI619493business:SmallEntities2019-08-012020-07-31 NI619493business:Director12019-08-012020-07-31 NI619493countries:NorthernIreland2019-08-012020-07-31 NI619493business:RegisteredOffice2019-08-012020-07-31 NI619493core:MotorVehicles2019-08-012020-07-31 NI619493core:MotorVehicles2019-07-31 NI619493core:MotorVehicles2020-07-31 NI6194932018-08-012019-07-31 iso4217:GBP xbrli:pure
Company Registration No. NI619493 (Northern Ireland)
Heffron Equine Limited Unaudited accounts for the year ended 31 July 2020
Heffron Equine Limited Statement of financial position as at 31 July 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
42,838 
53,548 
Current assets
Inventories
215,000 
277,500 
Debtors
5
3,745 
3,745 
Cash at bank and in hand
1,120 
196 
219,865 
281,441 
Creditors: amounts falling due within one year
6
(1,824,557)
(1,714,442)
Net current liabilities
(1,604,692)
(1,433,001)
Net liabilities
(1,561,854)
(1,379,453)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(1,561,954)
(1,379,553)
Shareholders' funds
(1,561,854)
(1,379,453)
For the year ending 31 July 2020 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 director acknowledges his 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 and authorised for issue on 27 April 2021 and were signed on its behalf by
Patrick Heffron Director Company Registration No. NI619493
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Heffron Equine Limited Notes to the Accounts for the year ended 31 July 2020
1
Statutory information
Heffron Equine Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI619493. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast, Antrim, BT3 9DE.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% reducing balance
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 August 2019
185,000 
At 31 July 2020
185,000 
Depreciation
At 1 August 2019
131,452 
Charge for the year
10,710 
At 31 July 2020
142,162 
Net book value
At 31 July 2020
42,838 
At 31 July 2019
53,548 
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Heffron Equine Limited Notes to the Accounts for the year ended 31 July 2020
5
Debtors
2020 
2019 
£ 
£ 
Less than one year
Trade debtors
3,745 
3,745 
Greater than one year
Total debtors
3,745 
3,745 
6
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade creditors
5,027 
6,061 
Other creditors
1,818,450 
1,707,481 
Accruals
1,080 
900 
1,824,557 
1,714,442 
7
Transactions with related parties
Included in other creditors are amounts due to other related parties of £1,818,450 (2019: £1,707,481). All amounts are repayable on demand.
8
Average number of employees
During the year the average number of employees was 0 (2019: 0).
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