HOME COUNTIES MASTER THATCHERS LIMITED

HOME COUNTIES MASTER THATCHERS LIMITED - Company Information

2020-04-012021-03-312021-03-31false04275465HOME COUNTIES MASTER THATCHERS 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Registered Number
04275465
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 March 2021

HOME COUNTIES MASTER THATCHERS LIMITED

Company Information
for the year from 1 April 2020 to 31 March 2021


Directors	BIGGS, Barry John
	BIGGS, Peter John


Registered Address	20 Teal Close
	West Hansbury
	Northampton
	NN4 9XF


Registered Number	04275465 (England and Wales)

HOME COUNTIES MASTER THATCHERS LIMITED

Balance Sheet as at
31 March 2021

	Notes	2021		2020
		£	£	£	£
Fixed assets
Intangible assets	6		-		700
Tangible assets	7		9,307		12,293
			9,307		12,993
Current assets
Stocks	8	2,835		12,672
Debtors	9	16,513		15,821
Cash at bank and on hand		20,651		4,112
		39,999		32,605
Creditors amounts falling due within one year	10	(40,313)		(41,802)
Net current assets (liabilities)			(314)		(9,197)
Total assets less current liabilities			8,993		3,796
Provisions for liabilities			(1,768)		(2,336)
Net assets			7,225		1,460
Capital and reserves
Called up share capital			10		10
Profit and loss account			7,215		1,450
Shareholders' funds			7,225		1,460

The company was entitled to exemption from audit for this reporting period 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 23 September 2021, and are signed on its behalf by:

BIGGS, Barry John
Director
Registered Company No. 04275465

HOME COUNTIES MASTER THATCHERS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2021

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	PRINCIPAL ACTIVITIES
	The principal activity of the company is Thatchers

4.	ACCOUNTING POLICIES

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

		Reducing balance (%)
	Plant and machinery	20
	Fixtures and fittings	20
	Vehicles	25
	Office Equipment	20

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

	Inventories policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

5.	EMPLOYEE INFORMATION

		2021		2020
	Average number of employees during the year	4		4

6.	INTANGIBLE ASSETS

		Total £
	Cost or valuation
	At 01 April 20	14,000
	At 31 March 21	14,000
	Amortisation and impairment
	At 01 April 20	13,300
	Charge for year	700
	At 31 March 21	14,000
	Net book value
	At 31 March 20	700

7.	PROPERTY, PLANT AND EQUIPMENT

		Total £
	Cost or valuation
	At 01 April 20	64,576
	At 31 March 21	64,576
	Depreciation and impairment
	At 01 April 20	52,283
	Charge for year	2,986
	At 31 March 21	55,268
	Net book value
	At 31 March 21	9,307
	At 31 March 20	12,293

8.	INVENTORIES

		2021 £		2020 £
	Finished goods	2,835		12,672
	Total	2,835		12,672

9.	DEBTORS
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	2021 £	2020 £
Trade debtors / trade receivables	13,584	12,420
Other debtors	1,788	2,398
Prepayments and accrued income	1,141	1,003
Total	16,513	15,821

10.	CREDITORS WITHIN ONE YEAR
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	2021 £	2020 £
Trade creditors / trade payables	2,103	2,398
Bank borrowings and overdrafts	13,794	13,794
Taxation and social security	5,423	6,595
Other creditors	18,993	19,015
Total	40,313	41,802