Huff Equestrian Limited - Accounts to registrar (filleted) - small 18.2

Huff Equestrian Limited - Accounts to registrar (filleted) - small 18.2

HUFF EQUESTRIAN LIMITED - Company Information

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REGISTERED NUMBER: 10715281 (England and Wales)















HUFF EQUESTRIAN LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1ST MAY 2019 TO 29TH APRIL 2020





Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP








HUFF EQUESTRIAN LIMITED (REGISTERED NUMBER: 10715281)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST MAY 2019 TO 29TH APRIL 2020










Page

Company Information 1

Chartered Accountants' Report 2

Abridged Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 6


HUFF EQUESTRIAN LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1ST MAY 2019 TO 29TH APRIL 2020







DIRECTOR: M Hunter





REGISTERED OFFICE: Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP





REGISTERED NUMBER: 10715281 (England and Wales)





ACCOUNTANTS: Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HUFF EQUESTRIAN LIMITED


The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 Huff Equestrian Limited for the period ended 29th April 2020 which comprise the Income Statement, Abridged Statement of Financial Position, 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 director of Huff Equestrian Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Huff Equestrian Limited and state those matters that we have agreed to state to the director of Huff Equestrian Limited 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 Huff Equestrian Limited and its director for our work or for this report.

It is your duty to ensure that Huff Equestrian 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 profit of Huff Equestrian Limited. You consider that Huff Equestrian Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Huff Equestrian 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.






Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP


15th June 2021

This page does not form part of the statutory financial statements

Page 2
HUFF EQUESTRIAN LIMITED (REGISTERED NUMBER: 10715281)

ABRIDGED STATEMENT OF FINANCIAL POSITION
29TH APRIL 2020

2020 2019
Notes £    £   
CURRENT ASSETS
Inventories 13,750 13,823
Debtors 10,368 932
Cash in hand 203 103
24,321 14,858
CREDITORS
Amounts falling due within one year (48,118 ) (49,309 )
NET CURRENT LIABILITIES (23,797 ) (34,451 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,797 ) (34,451 )

CAPITAL AND RESERVES
Called up share capital 5 1 1
Retained earnings (23,798 ) (34,452 )
SHAREHOLDERS' FUNDS (23,797 ) (34,451 )

The notes form part of these financial statements

Page 3
HUFF EQUESTRIAN LIMITED (REGISTERED NUMBER: 10715281)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
29TH APRIL 2020


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29th April 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 29th April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the period ended 29th April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15th June 2021 and were signed by:





M Hunter - Director


The notes form part of these financial statements

Page 4
HUFF EQUESTRIAN LIMITED (REGISTERED NUMBER: 10715281)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST MAY 2019 TO 29TH APRIL 2020


1. STATUTORY INFORMATION

Huff Equestrian 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The director, M Hunter, has undertaken to continue her financial support of the company for the foreseeable future. On this basis, she believes that it is appropriate to prepare the financial statements on a going concern basis.

Significant judgements and estimates
No significant judgements or estimates have had to be made by the director in preparing these financial statements.

Revenue
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other taxes of sales made during the year.

Revenue recognition
Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them and at the date the service is provided.

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

Inventories are calculated using the first in, first out method and include all purchase, transport, and handling costs in bringing items to their present location and condition.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


Page 5
HUFF EQUESTRIAN LIMITED (REGISTERED NUMBER: 10715281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST MAY 2019 TO 29TH APRIL 2020


3. ACCOUNTING POLICIES - continued
Tax
Tax for the period 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 tax 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 material 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 period 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.

Going concern
The director has assessed the balance sheet and likely future cash flows at the date of approving these financial statements. During the year, the rapid spreading of COVID-19 has become a significant emerging risk to the global economy. The director continues to monitor the impact of the virus on the business as more information about the pandemic emerges. The director is confident that the company has sufficient funds available to meet liabilities as they fall due within the next 12 months; however the director acknowledges that the position is changing day by day.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2019 - NIL).

5. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
100 Ordinary £0.01 1 1

Page 6