ACCOUNTS - Final Accounts preparation

HAMPSTEAD FINANCE LIMITED - Company Information

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Registered number: 11948104

HAMPSTEAD FINANCE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2021

HAMPSTEAD FINANCE LIMITED

REGISTERED NUMBER: 11948104

STATEMENT OF FINANCIAL POSITION

AS AT 30 APRIL 2021

	2021	2021	2020	2020
Note	£	£	£	£


Current assets
Debtors: amounts falling due within one year	4	-		660,786
Cash at bank and in hand		423,668		7,874
		423,668		668,660
Creditors: amounts falling due within one year	5	(372,885)		(663,101)
Net current assets			50,783		5,559
Total assets less current liabilities			50,783		5,559

Net assets			50,783		5,559

Capital and reserves
Called up share capital	2	2
Profit and loss account	50,781	5,557
	50,783	5,559

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 November 2021.

P Thomas

Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

HAMPSTEAD FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

1.	General information

Hampstead Finance Limited is a private company limited by shares and registered in England and
Wales. The address of its registered office is 5 Market Yard Mews, 194-204 Bermondsey Street, London,
SE1 3TQ which is also its principal place of business.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

Although the potential effect of Covid-19 can be modelled, it is very difficult to determine the assumptions that will prove to be the most appropriate and therefore there is an element of doubt existing that cannot be quantified.
After reviewing the company's forecasts and projections, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements, but with the provision that a material uncertainty exists over the company.

2.3

Revenue

Turnover comprises interest receivable on loans.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.7

Creditors

Short term creditors are measured at the transaction price.

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HAMPSTEAD FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

2.Accounting policies (continued)

2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Debtors

					2021	2020
					£	£


Other debtors	-	660,786
	-	660,786

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Corporation tax	10,608	1,303
Other creditors	359,997	659,998
Accruals and deferred income	2,280	1,800
	372,885	663,101

6.	Related party transactions
	At the year end the company owed the directors £359,997 (2020: £659,998). The loan is interest free and repayable on demand.

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