ACCOUNTS - Final Accounts

RACHAEL HANKINSON LIMITED - Company Information

Registered number: 07237261

RACHAEL HANKINSON LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021


RACHAEL HANKINSON LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


RACHAEL HANKINSON LIMITED REGISTERED NUMBER:07237261

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		2,104		2,301
Current assets
Debtors: amounts falling due within one year	5	12,939		57,992
Cash at bank and in hand		121,944		167,325
		134,883		225,317
Current liabilities
Creditors: amounts falling due within one year	6	(90,957)		(167,863)
Net current assets			43,926		57,454

Net assets			46,030		59,755

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		45,930	59,655
		46,030	59,755

The director considers 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 director acknowledges her 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 comprehensive income 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 22 December 2021.

R Hankinson

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


RACHAEL HANKINSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

Rachael Hankinson Limited is a limited company incorporated in England and Wales, with its registered office address at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the company during the year was that of TV production management.
The financial statements are presented in £ sterling, which is the functional currency of the company.

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

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised when the service is provided.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 2


RACHAEL HANKINSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.4

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.

2.5

Dividends

Equity dividends are recognised when they become legally payable.

2.6

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.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 3


RACHAEL HANKINSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 April 2020	4,207
	Additions	199
	At 31 March 2021	4,406
	Depreciation
	At 1 April 2020	1,906
	Charge for the year on owned assets	396
	At 31 March 2021	2,302
	Net book value
	At 31 March 2021	2,104
	At 31 March 2020	2,301

Debtors

					2021	2020
					£	£


Trade debtors	10,500	56,377
Other debtors	2,339	-
Prepayments and accrued income	100	1,615
	12,939	57,992

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

Other taxation and social security	-	13,499
Other creditors	33,664	97,071
Accruals and deferred income	57,293	57,293
	90,957	167,863

Page 4


RACHAEL HANKINSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

7.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

100 (2020 - 100) Ordinary shares of £1 each	100	100

Page 5