Company No: 04585894 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	3	1,785		1,381
Investments	4	4		4
		1,789		1,385
Current assets
Stocks		89,119		37,293
Debtors	5	392,211		627,151
Cash at bank and in hand		894,230		1,225,532
		1,375,560		1,889,976
Creditors: amounts falling due within one year	6	( 123,551)		( 167,324)
Net current assets		1,252,009		1,722,652
Total assets less current liabilities		1,253,798		1,724,037
Net assets		1,253,798		1,724,037
Capital and reserves
Called-up share capital	7	80,000		80,000
Profit and loss account		1,173,798		1,644,037
Total shareholders' funds		1,253,798		1,724,037

For the financial year ending 31 December 2022 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 financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Hawkstone 2002 Limited (registered number: 04585894) were approved and authorised for issue by the Director on 28 September 2023. They were signed on its behalf by:

Mr M R P Allsop Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hawkstone 2002 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Salt Quay House, 4 North East Quay, Sutton Harbour, Plymouth, Devon, PL4 0BN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line/reducing balance] basis over its expected useful life, as follows:

Vehicles	4 years straight line
Computer equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Vehicles		Computer equipment		Total
	£		£		£
Cost
At 01 January 2022	24,240		11,237		35,477
Additions	0		1,074		1,074
At 31 December 2022	24,240		12,311		36,551
Accumulated depreciation
At 01 January 2022	24,240		9,856		34,096
Charge for the financial year	0		670		670
At 31 December 2022	24,240		10,526		34,766
Net book value
At 31 December 2022	0		1,785		1,785
At 31 December 2021	0		1,381		1,381

4. Fixed asset investments

Investments in subsidiaries

	2022
	£
Cost
At 01 January 2022	4
At 31 December 2022	4
Carrying value at 31 December 2022	4
Carrying value at 31 December 2021	4

5. Debtors

	2022		2021
	£		£
Amounts owed by directors	337,349		569,741
Prepayments	205		228
VAT recoverable	5,665		2,265
Corporation tax	5,111		0
Other taxation and social security	42,491		54,917
Other debtors	1,390		0
	392,211		627,151

6. Creditors: amounts falling due within one year

	2022		2021
	£		£
Trade creditors	0		2,570
Accruals	122,157		122,107
Other taxation and social security	104		42,491
Other creditors	1,290		156
	123,551		167,324

7. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
80,000 a ordinary shares of £ 1.00 each	80,000		80,000

8. Related party transactions

Transactions with the entity's directors

	2022		2021
	£		£
Amounts owed by the directors to the company	337,349		569,741