Emma Hardie Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05495827 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Emma Hardie Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

Mr B J M Johnson

Mr E Murphy

Ms P B E Clark

Mr N D J O'Shea

SECRETARY:

Saxon Coast Consultants Ltd

REGISTERED OFFICE:

1210 Lincoln Road

Peterborough

PE4 6ND

REGISTERED NUMBER:

05495827 (England and Wales)

ACCOUNTANTS:

Lee Accounting Services 2018 Limited

Trading as Lee & Co

Chartered Accountants

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

FIXED ASSETS

Intangible assets

4

37,505

50,007

Tangible assets

5

24,110

1,881

61,615

51,888

CURRENT ASSETS

Stocks

1,371,747

1,146,158

Debtors

6

1,030,982

1,097,351

Cash at bank

166,299

168,498

2,569,028

2,412,007

CREDITORS

Amounts falling due within one year

7

1,243,489

773,117

NET CURRENT ASSETS

1,325,539

1,638,890

TOTAL ASSETS LESS CURRENT LIABILITIES

1,387,154

1,690,778

CREDITORS

Amounts falling due after more than one year

8

(1,093,442

)

(1,136,525

)

PROVISIONS FOR LIABILITIES

-

(357

)

NET ASSETS

293,712

553,896

CAPITAL AND RESERVES

Called up share capital

554,019

554,019

Retained earnings

(260,307

)

(123

)

SHAREHOLDERS' FUNDS

293,712

553,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 30 March 2022 and were signed on its behalf by:

Mr E Murphy - Director

1.	STATUTORY INFORMATION

Emma Hardie 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

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

-

50% on cost

Government grants

Due to the Covid-19 pandemic and the closure of businesses under UK Government legislation, the company utilised the furlough scheme where the Government contributed to the wage costs of the business.

Government grants are accounted of on an accruals basis.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Component stocks are valued at cost. Finished goods are valued at the sum of the component costs and manufacturing charges.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

Research and development

Expenditure on research and development relating to product development and clinical trials is written off in the year in which it is incurred.

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.

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.

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 11 (2020 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2020

and 30 June 2021

62,509

AMORTISATION

At 1 July 2020

12,502

Charge for year

12,502

At 30 June 2021

25,004

NET BOOK VALUE

At 30 June 2021

37,505

At 30 June 2020

50,007

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

44,647

Additions

32,953

Disposals

(25,144

)

At 30 June 2021

52,456

DEPRECIATION

At 1 July 2020

42,766

Charge for year

10,724

Eliminated on disposal

(25,144

)

At 30 June 2021

28,346

NET BOOK VALUE

At 30 June 2021

24,110

At 30 June 2020

1,881

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

773,003

875,862

Other debtors

257,979

221,489

1,030,982

1,097,351

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

47,000

3,917

Invoice financing

525,767

169,222

Trade creditors

442,871

346,710

Taxation and social security

86,179

111,776

Other creditors

141,672

141,492

1,243,489

773,117

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

188,000

231,083

Other creditors

905,442

905,442

1,093,442

1,136,525

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

43,083

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.21

30.6.20

£

£

Invoice financing

525,767

169,222

Balances due to invoice financing companies are secured against trade debtors.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Emma Hardie Limited for the year ended 30 June 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Emma Hardie Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Emma Hardie Limited and state those matters that we have agreed to state to the Board of Directors of Emma Hardie Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emma Hardie Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Emma Hardie Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Emma Hardie Limited. You consider that Emma Hardie Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Emma Hardie Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lee Accounting Services 2018 Limited

Trading as Lee & Co

Chartered Accountants

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

Date: .............................................