Company Registration No. 00371291 (England and Wales)
Hurwitz Exports Limited
Unaudited accounts
for the year ended 30 April 2022
Hurwitz Exports Limited
Unaudited accounts
Contents
Hurwitz Exports Limited
Company Information
for the year ended 30 April 2022
Directors
Mr S J Hurwitz
Mrs C L Hurwitz
Mrs S L Hurwitz Samuels
Mr P M Lipski
Company Number
00371291 (England and Wales)
Registered Office
Hallswelle House
1 Hallswelle Road
London
NW11 0DH
Accountants
Clearfin Accountants Limited
Churchill House
137-139 Brent Street
London
NW4 4DJ
Hurwitz Exports Limited
Statement of financial position
as at 30 April 2022
Tangible assets
21,610
37,797
Inventories
260,076
1,027,499
Debtors
1,514,118
1,790,413
Cash at bank and in hand
19,505
555,143
Creditors: amounts falling due within one year
(829,564)
(1,364,210)
Net current assets
964,135
2,008,845
Net assets
998,233
2,059,130
Called up share capital
101,000
101,000
Profit and loss account
897,233
1,958,130
Shareholders' funds
998,233
2,059,130
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2023 and were signed on its behalf by
Mr S J Hurwitz
Director
Company Registration No. 00371291
Hurwitz Exports Limited
Notes to the Accounts
for the year ended 30 April 2022
Hurwitz Exports Limited is a private company, limited by shares, registered in England and Wales, registration number 00371291. The registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
At the time of approving the financial statements , the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the term of the lease
Plant & machinery
25% on reducing value
Fixtures & fittings
25% on reducing value
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
Hurwitz Exports Limited
Notes to the Accounts
for the year ended 30 April 2022
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2021
40,247
10,577
79,483
130,307
At 30 April 2022
40,247
10,577
79,483
130,307
At 1 May 2021
20,124
7,889
64,497
92,510
Charge for the year
10,062
896
5,229
16,187
At 30 April 2022
30,186
8,785
69,726
108,697
At 30 April 2022
10,061
1,792
9,757
21,610
At 30 April 2021
20,123
2,688
14,986
37,797
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Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 May 2021
32
12,456
12,488
Valuation at 30 April 2022
32
12,456
12,488
Finished goods
260,076
1,027,499
Hurwitz Exports Limited
Notes to the Accounts
for the year ended 30 April 2022
Amounts falling due within one year
Trade debtors
703,133
882,663
Amounts due from group undertakings etc.
209,027
318,562
Accrued income and prepayments
-
5,850
Other debtors
596,456
583,338
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Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
84,756
231,765
Trade creditors
477,599
918,111
Taxes and social security
6,165
6,133
Other creditors
251,944
159,161
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Average number of employees
During the year the average number of employees was 8 (2021: 8).
