E. S. Hartley Limited iXBRL

E. S. Hartley Limited

Directors' Report and Unaudited Financial Statements

for the financial year ended 31 December 2020

E. S. Hartley Limited

DIRECTORS AND OTHER INFORMATION

Directors	Neil Worrall
	Ben Molyneux
Company Number	02909182
Registered Office and Business Address	Ings
	Kendal
	Cumbria
	LA8 9PY
Accountants	Crowley Young
	Chartered Accountants
	Level 1
	Devonshire House
	One Mayfair Place
	London
	W1J 8AJ
Bankers	Allied Irish Bank (GB)
	100 Gray''s Inn Road
	London
	WC1X 8AL
Solicitors	Temple Heelis
	Bridge Mills
	Stramongate
	Kendal
	Cumbria
	LA9 4UB

E. S. Hartley Limited

DIRECTORS' REPORT

for the financial year ended 31 December 2020

The directors present their report and the unaudited financial statements for the financial year ended 31 December 2020.

Principal Activity

Sale of motorhomes.

Directors

The directors who served during the financial year are as follows:

Neil Worrall

Ben Molyneux

There were no changes in shareholdings between 31 December 2020 and the date of signing the financial statements.

Political Contributions

The company did not make any disclosable political donations in the current financial year.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and apply them consistently;
-	make judgements and accounting estimates that are reasonable and prudent;
-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________

Neil Worrall

Director

___________________________

Ben Molyneux

Director

17 August 2021

E. S. Hartley Limited

CHARTERED ACCOUNTANTS' REPORT

to the Board of Directors on the unaudited financial statements of E. S. Hartley Limited for the financial year ended 31 December 2020

In accordance with our engagement letter dated 12 February 2011 and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the financial year ended 31 December 2020 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and notes from the company's accounting records and from information and explanations you have given to us.

As a member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at <www.icaew.com/membershandbook>.

This report is made solely to the Board of Directors of E. S. Hartley Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of E. S. Hartley Limited and state those matters that we have agreed to state to the Board of Directors of E. S. Hartley Limited, as a body, in this report in accordance with AAF 2/10 as detailed at <www.icaew.com/compilation>. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E. S. Hartley Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that E. S. Hartley 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 E. S. Hartley Limited. You consider that E. S. Hartley Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of E. S. Hartley 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.

__________________________________

Fintan Crowley

for and on behalf of

CROWLEY YOUNG

Chartered Accountants

Level 1

Devonshire House

One Mayfair Place

London

W1J 8AJ

17 August 2021

E. S. Hartley Limited

INCOME STATEMENT

for the financial year ended 31 December 2020

		2020		2019
	Notes	£		£

Turnover		13,813,021		12,743,132
Cost of sales		(12,816,742)		(11,972,955)
		─────────		─────────
Gross profit		996,279		770,177
Administrative expenses		(535,694)		(551,857)
		─────────		─────────
Operating profit		460,585		218,320
Interest payable and similar expenses		(70,797)		(41,801)
		─────────		─────────
Profit before taxation		389,788		176,519
Tax on profit		(74,549)		(98,469)
		─────────		─────────
Profit for the financial year	10	315,239		78,050
		─────────		─────────
Total comprehensive income		315,239		78,050
		═════════		═════════

E. S. Hartley Limited

Company Number: 02909182

STATEMENT OF FINANCIAL POSITION

as at 31 December 2020

			2020		2019
		Notes	£		£
Non-Current Assets

Property, plant and equipment		4	31,700		33,940
			─────────		─────────
Current Assets

Stocks		5	3,254,199		3,778,910
Debtors		6	399,702		250,308
Cash and cash equivalents			674,686		302,177
			─────────		─────────
			4,328,587		4,331,395
			─────────		─────────
Creditors: Amounts falling due within one year		7	(3,318,884)		(1,565,960)
			─────────		─────────
Net Current Assets			1,009,703		2,765,435
			─────────		─────────
Total Assets less Current Liabilities			1,041,403		2,799,375
Creditors

Amounts falling due after more than one year		8	(255,780)		(2,245,092)
			─────────		─────────
Net Assets			785,623		554,283
			═════════		═════════
Capital and Reserves

Called up share capital			150,000		150,000
Income statement		10	635,623		404,283
			─────────		─────────
Equity attributable to owners of the company			785,623		554,283
			═════════		═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 17 August 2021 and signed on its behalf by

________________________________
Neil Worrall
Director
________________________________

Ben Molyneux

Director

E. S. Hartley Limited

STATEMENT OF CHANGES IN EQUITY

as at 31 December 2020

	Share	Retained	Total
	capital	earnings
	£	£	£
At 1 January 2019	150,000	362,233	512,233
	─────────	─────────	─────────
Profit for the financial year	-	78,050	78,050
	─────────	─────────	─────────
Payment of dividends	-	(36,000)	(36,000)
	─────────	─────────	─────────
At 31 December 2019	150,000	404,283	554,283
	─────────	─────────	─────────
Profit for the financial year	-	315,239	315,239
	─────────	─────────	─────────
Payment of dividends	-	(83,899)	(83,899)
	─────────	─────────	─────────
At 31 December 2020	150,000	635,623	785,623
	═════════	═════════	═════════

E. S. Hartley Limited

NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2020

1.	General Information
	E. S. Hartley Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 02909182. The registered office of the company is Ings, Kendal, Cumbria, LA8 9PY which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

2.	Summary of Significant Accounting Policies
	The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
	Statement of compliance
	The financial statements of the company for the financial year ended 31 December 2020 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
	Basis of preparation
	The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
	Turnover
	Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
	Property, plant and equipment and depreciation
	Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
		Short leasehold property	-	Over the period of the lease of 16 years
		Plant and machinery	-	10% Straight line
		Fixtures, fittings and equipment	-	10% Straight line
		Motor vehicles	-	5% Reducing balance
	The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
	Leasing and hire purchases
	Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
	Stocks
	Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
	Trade and other debtors
	Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
	Borrowing costs
	Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
	Trade and other creditors
	Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
	Employee benefits
	The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
	Taxation and deferred taxation
	Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
	Foreign currencies
	Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
	Share capital of the company
	Ordinary share capital
	The ordinary share capital of the company is presented as equity.
	Preference share capital
	The dividend rights of the preference shares are non-cumulative and payment is at the discretion of the company. The preference shares carry voting rights at meetings. Based on their characteristics the preference shares are considered to be presented as equity and not liabilities. There is no option to redeem the preference shares.

3.	Employees
	The average monthly number of employees, including directors, during the financial year was 19, (2019 - 19).
		2020	2019
		Number	Number
	Management	2	2
	Sales and administration	17	17
		─────────	─────────
		19	19
		═════════	═════════

4.	Property, plant and equipment
		Short	Plant and	Fixtures,	Motor	Total
		leasehold	machinery	fittings and	vehicles
		property		equipment
		£	£	£	£	£
	Cost
	At 1 January 2020	224,036	127,619	136,187	17,000	504,842
	Additions	-	1,529	2,743	-	4,272
		─────────	─────────	─────────	─────────	─────────
	At 31 December 2020	224,036	129,148	138,930	17,000	509,114
		─────────	─────────	─────────	─────────	─────────
	Depreciation
	At 1 January 2020	224,036	113,954	129,757	3,155	470,902
	Charge for the financial year	-	1,800	4,020	692	6,512
		─────────	─────────	─────────	─────────	─────────
	At 31 December 2020	224,036	115,754	133,777	3,847	477,414
		─────────	─────────	─────────	─────────	─────────
	Net book value
	At 31 December 2020	-	13,394	5,153	13,153	31,700
		═════════	═════════	═════════	═════════	═════════
	At 31 December 2019	-	13,665	6,430	13,845	33,940
		═════════	═════════	═════════	═════════	═════════

5.	Stocks	2020	2019
		£	£
	Finished goods and goods for resale	3,254,199	3,778,910
		═════════	═════════

6.	Debtors	2020	2019
		£	£
	Trade debtors	348,674	131,076
	Amounts owed by connected parties (Note 12)	9,500	70,500
	Other debtors	29,999	-
	Prepayments and accrued income	11,529	48,732
		─────────	─────────
		399,702	250,308
		═════════	═════════

7.	Creditors	2020	2019
	Amounts falling due within one year	£	£
	Vehicle stock finance	1,582,212	-
	Trade creditors	1,352,339	1,122,496
	Amounts owed to connected parties (Note 12)	35,502	197,168
	Taxation  (Note 9)	313,158	204,093
	Directors' current accounts	-	8,451
	Other creditors	23,733	21,181
	Accruals:
	Pension accrual	2,904	1,750
	Other accruals	9,036	10,821
		─────────	─────────
		3,318,884	1,565,960
		═════════	═════════

8.	Creditors	2020	2019
	Amounts falling due after more than one year	£	£
	Bank loan	50,000	-
	Finance leases and hire purchase contracts	48,546	73,972
	Other loans	157,234	2,171,120
		─────────	─────────
		255,780	2,245,092
		═════════	═════════
	Loans
	Repayable in one year or less, or on demand (Note 7)	1,582,212	-
	Repayable between one and two years	50,000	-
		─────────	─────────
		1,632,212	-
		═════════	═════════
	Net obligations under finance leases
	and hire purchase contracts
	Repayable between one and five years	48,546	73,972
		═════════	═════════

9.	Taxation	2020	2019
		£	£
	Creditors:
	VAT	148,682	96,475
	Corporation tax	149,489	98,469
	PAYE / NI	14,987	9,149
		─────────	─────────
		313,158	204,093
		═════════	═════════

10.	Profit and loss account
		2020	2019
		£	£
	At 1 January 2020	404,283	362,233
	Profit for the financial year	315,239	78,050
	Payment of dividends	(83,899)	(36,000)
		─────────	─────────
	At 31 December 2020	635,623	404,283
		═════════	═════════

11.	Capital commitments
	The company had no material capital commitments at the financial year-ended 31 December 2020.

12.	Related party transactions
		Balance	Movement	Balance	Maximum
		2020	in year	2019	in year
		£	£	£	£
	JVM Combi Limited	9,500	(61,000)	70,500	-
	The following amounts are due to other connected parties:
				2020	2019
				£	£
	E S Hartley Leisure Limited			35,502	197,168
				═════════	═════════
	Net balances with other connected parties:
				2020	2019
				£	£
	E S Hartley Leisure Limited			(35,502)	(197,168)
	JVM Combi Limited			9,500	70,500
				─────────	─────────
				(26,002)	(126,668)
				═════════	═════════
	Cost of sales include purchases from E S Hartley (Leisure) Limited of £670,884 (2019: £2,661,286). This company has the same directors and shareholders. Cost of sales include purchases from JVM Combi Limited of £2,615,462 (2019: £1,1504,540). The shareholder of JVM Combi Limited is a part shareholder in this company.

13.	Events After End of Reporting Period
	Other than the ongoing effects of the COVID-19 pandemic and BREXIT, there have been no significant events affecting the company since the financial year-end.