Hartfields (Sussex) Limited Filleted accounts for Companies House (small and micro)

HARTFIELDS (SUSSEX) LTD - Company Information

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COMPANY REGISTRATION NUMBER: 04838672

Hartfields (Sussex) Limited

Filleted Unaudited Financial Statements

31 July 2021

Hartfields (Sussex) Limited

Statement of Financial Position

31 July 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	5		129,189	152,371

Current assets

Stocks		14,150	13,100
Debtors	6	2,191	352
Cash at bank and in hand		144,878	78,635
		---------	--------
		161,219	92,087

Creditors: amounts falling due within one year	7	79,412		91,610
		---------		--------
Net current assets			81,807	477
			---------	---------
Total assets less current liabilities			210,996	152,848

Creditors: amounts falling due after more than one year	8	195,899	136,638
		---------	---------
Net assets		15,097	16,210
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	14,997	16,110
	--------	--------
Shareholders funds	15,097	16,210
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2021 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 financial statements for the year in question in accordance with section 476 ;

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

Hartfields (Sussex) Limited

Statement of Financial Position (continued)

31 July 2021

These financial statements were approved by the board of directors and authorised for issue on 31 January 2022 , and are signed on behalf of the board by:

J Hartfield
Director

Company registration number: 04838672

Hartfields (Sussex) Limited

Notes to the Financial Statements

Year ended 31 July 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sportsman Farm, St Michaels, Tenterden, Kent, TN30 6SY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	6% straight line
Fixtures & Fittings	-	15% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 29 (2020: 27 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 August 2020 and 31 July 2021	7,142	212,646	40,791	260,579
	-------	---------	--------	---------
Depreciation
At 1 August 2020	1,678	72,594	33,936	108,208
Charge for the year	460	21,008	1,714	23,182
	-------	---------	--------	---------
At 31 July 2021	2,138	93,602	35,650	131,390
	-------	---------	--------	---------
Carrying amount
At 31 July 2021	5,004	119,044	5,141	129,189
	-------	---------	--------	---------
At 31 July 2020	5,464	140,052	6,855	152,371
	-------	---------	--------	---------

6. Debtors

	2021	2020
	£	£
Trade debtors	2,191	352
	-------	----

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	–	1,170
Trade creditors	28,189	8,836
Social security and other taxes	14,072	44,653
Other creditors	37,151	36,951
	--------	--------
	79,412	91,610
	--------	--------

8. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	195,899	136,638
	---------	---------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2021
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs B Hartfield	( 15,091)	–	( 15,091)
	--------	----	--------

	2020
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs B Hartfield	( 20,091)	5,000	( 15,091)
	--------	-------	--------