Hatch Masters Limited - Period Ending 2020-12-31

Hatch Masters Limited

Contents

Balance Sheet	1 to 2
Statement of Changes in Equity	3
Notes to the Unaudited Financial Statements	4 to 8

Hatch Masters Limited

Balance Sheet

31 December 2020

	Note	2020 £
Fixed assets
Investments	4	380,040
Current assets
Debtors	5	60
Creditors: Amounts falling due within one year	6	(24,000)
Net current liabilities		(23,940)
Total assets less current liabilities		356,100
Creditors: Amounts falling due after more than one year	6	(152,000)
Net assets		204,100
Capital and reserves
Called up share capital	8	180,100
Capital redemption reserve		24,000
Shareholders' funds		204,100

Hatch Masters Limited

Balance Sheet

31 December 2020

For the financial period ending 31 December 2020 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 September 2021 and signed on its behalf by:
 

......................................... Mr J Green Director

Company Registration Number: 12454218

Hatch Masters Limited

Statement of Changes in Equity

Period from 11 February 2020 to 31 December 2020

	Share capital £	Capital redemption reserve £	Profit and loss account £	Total £
Profit for the period	-	-	24,000	24,000
Redemption of preference shares	-	24,000	(24,000)	-
Total comprehensive income	-	24,000	-	24,000
New share capital subscribed	100	-	-	100
Non-redeemable preference shares allotted	180,000	-	-	180,000
At 31 December 2020	180,100	24,000	-	204,100

Hatch Masters Limited

Notes to the Unaudited Financial Statements

Period from 11 February 2020 to 31 December 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Francis Clark LLP
North Quay House
Sutton Harbour
Plymouth
Devon
PL4 0RA

The principal place of business is:
Lower Hatch Farm
Loddiswell
Kingsbridge
Devon
TQ7 4AJ

These financial statements were authorised for issue by the Board on 10 September 2021.

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Hatch Masters Limited

Notes to the Unaudited Financial Statements

Period from 11 February 2020 to 31 December 2020

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; 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 4.

Hatch Masters Limited

Notes to the Unaudited Financial Statements

Period from 11 February 2020 to 31 December 2020

4	Investments

	2020 £
Investments in subsidiaries	380,040

Subsidiaries	£
Cost or valuation
At 11 February 2020	380,040
Provision
Carrying amount
At 31 December 2020	380,040

5

Debtors

	2020 £
Other debtors	60
	60

Hatch Masters Limited

Notes to the Unaudited Financial Statements

Period from 11 February 2020 to 31 December 2020

6

Creditors

Creditors: amounts falling due within one year

	Note	2020 £
Due within one year
Loans and borrowings	7	24,000

Creditors: amounts falling due after more than one year

	Note	2020 £
Due after one year
Loans and borrowings	7	152,000

7	Loans and borrowings

	2020 £
Loans and borrowings due after one year
Redeemable preference shares	152,000

	2020 £
Current loans and borrowings
Redeemable preference shares	24,000

Hatch Masters Limited

Notes to the Unaudited Financial Statements

Period from 11 February 2020 to 31 December 2020

8	Share capital

Allotted, called up and fully paid shares

	2020
	No.	£
Ordinary Shares of £1 each	30	30
Ordinary A Shares of £1 each	5	5
Ordinary B Shares of £1 each	5	5
Ordinary D Shares of £1 each	30	30
Ordinary E Shares of £1 each	30	30
Non Redeemable Preference shares of £1 each	180,000	180,000
Redeemable Preference Shares of £1 each	176,000	176,000
	356,100	356,100

9	Related party transactions

In March 2020 the group underwent a restructure and on 12 March 2020, Hatch Masters Limited acquired the share capital in Hatch Marquee Hire (Holdings) Limited.