Peter Hepworth Components Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06529446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

FOR

PETER HEPWORTH COMPONENTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

G P C Hepworth

Mrs C A Hepworth

SECRETARY:

G P C Hepworth

REGISTERED OFFICE:

3 & 4 Park Court

Riccall Road

Escrick

York

North Yorkshire

YO19 6ED

REGISTERED NUMBER:

06529446 (England and Wales)

ACCOUNTANTS:

CGA

Chartered Certified Accountants

3 & 4 Park Court

Riccall Road

Escrick

York

North Yorkshire

YO19 6ED

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,576

3,436

Investments

6

8,000

8,000

10,576

11,436

CURRENT ASSETS

Debtors

7

11,256

68,385

Cash at bank and in hand

19,668

10,618

30,924

79,003

CREDITORS

Amounts falling due within one year

8

5,904

10,340

NET CURRENT ASSETS

25,020

68,663

TOTAL ASSETS LESS CURRENT LIABILITIES

35,596

80,099

CREDITORS

Amounts falling due after more than one year

9

(15,799

)

(19,749

)

PROVISIONS FOR LIABILITIES

(159

)

(212

)

NET ASSETS

19,638

60,138

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

19,636

60,136

SHAREHOLDERS' FUNDS

19,638

60,138

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 27th July 2022 and were signed on its behalf by:

G P C Hepworth - Director

1.	STATUTORY INFORMATION

Peter Hepworth Components 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

Turnover represents net invoiced goods, excluding value added tax.

Revenue is recognised once the goods have been sold and where it is virtually certain that payment will be received.

Goodwill

Goodwill was restated to be amortised over 5 years from the 01/04/2015 date of transition to FRS102 1a.

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.

Improvements to property

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2021

and 31st March 2022

32,500

AMORTISATION

At 1st April 2021

and 31st March 2022

32,500

NET BOOK VALUE

At 31st March 2022

-

At 31st March 2021

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1st April 2021

and 31st March 2022

11,727

5,465

17,192

DEPRECIATION

At 1st April 2021

9,282

4,474

13,756

Charge for year

612

248

860

At 31st March 2022

9,894

4,722

14,616

NET BOOK VALUE

At 31st March 2022

1,833

743

2,576

At 31st March 2021

2,445

991

3,436

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st April 2021

and 31st March 2022

8,000

NET BOOK VALUE

At 31st March 2022

8,000

At 31st March 2021

8,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

-

41,123

Other debtors

11,256

27,262

11,256

68,385

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

3,950

-

Trade creditors

13

13

Taxation and social security

356

9,177

Other creditors

1,585

1,150

5,904

10,340

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

15,799

19,749

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

3,950

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year under review, directors received loans from the company on which interest is charged. This is repayable on demand.

The company made advances totalling £24,716 (2021 - £17,338) and this was offset by credits totalling £41,200 (2021 - £66,000).

At the balance sheet date, the amount owed to the directors was £339 (2021 - £16,145 owed to the company) and is included within other creditors (2021 - other debtors).