Earlsgate Hampshire Limited - Period Ending 2022-03-31

Earlsgate Hampshire Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Earlsgate Hampshire Limited

Company Information

Directors

Mr A J A Dunn Mr N D Parker

Registered office

The Estate Office Wield Park Upper Wield Park Upper Wield Nr Alresford Hampshire SO24 9FX

Accountants

Francis Clark LLP Hitchcock House Hilltop Park Devizes Road Salisbury Wiltshire SP3 4UF

Earlsgate Hampshire Limited

Balance Sheet

31 March 2022

	Note	2022 £
Fixed assets
Intangible assets	4	2,602
Current assets
Stocks		2,234,963
Debtors	5	121,759
Cash at bank and in hand		11,858
		2,368,580
Creditors: Amounts falling due within one year	6	(2,515,174)
Net current liabilities		(146,594)
Net liabilities		(143,992)
Capital and reserves
Called up share capital		100
Profit and loss account		(144,092)
Shareholders' deficit		(143,992)

Earlsgate Hampshire Limited

Balance Sheet

31 March 2022

For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 August 2022 and signed on its behalf by:
 

......................................... Mr N D Parker Director

Company Registration Number: 13491176

Earlsgate Hampshire Limited

Notes to the Unaudited Financial Statements

Period from 2 July 2021 to 31 March 2022

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Estate Office Wield Park
Upper Wield Park
Upper Wield
Nr Alresford
Hampshire
SO24 9FX

These financial statements were authorised for issue by the Board on 10 August 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company is and will continue to be suported by the directors and a loan from Thornwood Group Holdings Limited of which a market rate of interest is charged.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website	20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Earlsgate Hampshire Limited

Notes to the Unaudited Financial Statements

Period from 2 July 2021 to 31 March 2022

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• amounts owed to group; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

Earlsgate Hampshire Limited

Notes to the Unaudited Financial Statements

Period from 2 July 2021 to 31 March 2022

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
Additions acquired separately	2,763	2,763
At 31 March 2022	2,763	2,763
Amortisation
Amortisation charge	161	161
At 31 March 2022	161	161
Carrying amount
At 31 March 2022	2,602	2,602

5

Debtors

	2022 £
Prepayments	8,300
Other debtors	113,459
	121,759

6

Creditors

Creditors: amounts falling due within one year

	Note	2022 £
Due within one year
Loans and borrowings	7	2,457,108
Trade creditors		39,542
Other creditors		16,074
Accruals and deferred income		2,450
		2,515,174

Earlsgate Hampshire Limited

Notes to the Unaudited Financial Statements

Period from 2 July 2021 to 31 March 2022

7	Loans and borrowings

	2022 £
Current loans and borrowings
Other borrowings	2,457,108