Hornbee Limited - Accounts to registrar - small 17.2

Hornbee Limited - Accounts to registrar - small 17.2

HORNBEE LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v17.2.1.52 07248586 Board of Directors 1.2.16 31.1.17 31.1.17 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure072485862016-01-31072485862017-01-31072485862016-02-012017-01-31072485862015-01-31072485862015-02-012016-01-31072485862016-01-3107248586ns15:EnglandWales2016-02-012017-01-3107248586ns14:PoundSterling2016-02-012017-01-3107248586ns10:Director12016-02-012017-01-3107248586ns10:PrivateLimitedCompanyLtd2016-02-012017-01-3107248586ns10:SmallEntities2016-02-012017-01-3107248586ns10:AuditExempt-NoAccountantsReport2016-02-012017-01-3107248586ns10:SmallCompaniesRegimeForDirectorsReport2016-02-012017-01-3107248586ns10:SmallCompaniesRegimeForAccounts2016-02-012017-01-3107248586ns10:FullAccounts2016-02-012017-01-3107248586ns10:Director22016-02-012017-01-3107248586ns10:RegisteredOffice2016-02-012017-01-3107248586ns5:CurrentFinancialInstruments2017-01-3107248586ns5:CurrentFinancialInstruments2016-01-3107248586ns5:Non-currentFinancialInstruments2017-01-3107248586ns5:Non-currentFinancialInstruments2016-01-3107248586ns5:ShareCapital2017-01-3107248586ns5:ShareCapital2016-01-3107248586ns5:RetainedEarningsAccumulatedLosses2017-01-3107248586ns5:RetainedEarningsAccumulatedLosses2016-01-3107248586ns5:LeaseholdImprovements2016-02-012017-01-3107248586ns5:PlantMachinery2016-02-012017-01-3107248586ns5:FurnitureFittings2016-02-012017-01-3107248586ns5:ComputerEquipment2016-02-012017-01-3107248586ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-01-3107248586ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-01-31


REGISTERED NUMBER: 07248586 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

FOR

HORNBEE LIMITED

HORNBEE LIMITED (REGISTERED NUMBER: 07248586)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HORNBEE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2017







DIRECTORS: Miss B Chandler
Miss D Chandler





REGISTERED OFFICE: 262-264 Old Street
London
EC1V 9DD





REGISTERED NUMBER: 07248586 (England and Wales)





ACCOUNTANTS: Cube Partners Limited
Chartered Accountants
5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF
Page 1
HORNBEE LIMITED (REGISTERED NUMBER: 07248586)

BALANCE SHEET
31 JANUARY 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 527,768 350,930

CURRENT ASSETS
Stocks 5 42,504 37,578
Debtors 6 356,222 295,818
Cash at bank and in hand 43,005 149,490
441,731 482,886
CREDITORS
Amounts falling due within one year 7 469,261 454,984
NET CURRENT (LIABILITIES)/ASSETS (27,530 ) 27,902
TOTAL ASSETS LESS CURRENT
LIABILITIES
500,238
378,832

CREDITORS
Amounts falling due after more than one
year
8
(9,896
)
(22,366
)

PROVISIONS FOR LIABILITIES (58,981 ) (10,742 )
NET ASSETS 431,361 345,724

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 431,261 345,624
SHAREHOLDERS' FUNDS 431,361 345,724

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
HORNBEE LIMITED (REGISTERED NUMBER: 07248586)

BALANCE SHEET - continued
31 JANUARY 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 September 2017 and were signed on its behalf
by:





Miss D Chandler - Director


The notes form part of these financial statements

Page 3
HORNBEE LIMITED (REGISTERED NUMBER: 07248586)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2017

1. STATUTORY INFORMATION

Hornbee Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

It is the company's policy to account for incentive payments when they are receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the terms of the lease period
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

Page 4 continued...
HORNBEE LIMITED (REGISTERED NUMBER: 07248586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2017

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2016 181,028 69,296 382,346 5,360 638,030
Additions 148,946 - 132,106 3,707 284,759
At 31 January 2017 329,974 69,296 514,452 9,067 922,789
DEPRECIATION
At 1 February 2016 75,640 46,280 162,921 1,569 286,410
Charge for year 30,652 5,757 70,836 1,366 108,611
At 31 January 2017 106,292 52,037 233,757 2,935 395,021
NET BOOK VALUE
At 31 January 2017 223,682 17,259 280,695 6,132 527,768
At 31 January 2016 105,388 23,016 219,425 3,791 351,620

5. STOCKS
2017 2016
£    £   
Stocks 42,504 37,578

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Amounts owed by group undertakings 332,500 292,310
VAT 17,109 -
Prepayments 6,613 3,508
356,222 295,818

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 13,879 30,342
Amounts owed to group undertakings 412,143 302,950
Tax 19,555 35,915
VAT - 34,078
Other creditors 23,684 1,699
Accruals and deferred income - 50,000
469,261 454,984

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
D Chandler loan 9,896 22,366

Page 5 continued...
HORNBEE LIMITED (REGISTERED NUMBER: 07248586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2017

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, a loan had been made to the company by the director Miss D Chandler of £9,896
(2016 £22,366). This loan has no fixed terms for repayment and is interest free.

10. RELATED PARTY DISCLOSURES

The company owed £412,144 (2016 - £302,950) to related parties in which Miss D Chandler is a director.

The company was owed £332,500 (2016 - £292,310) from related parties in which Miss D Chandler is a director.

During the year, rent of £66,000 (2016: £66,000) was charged from a related party in which Miss D Chandler is
a director.

The above loans are all on a no interest basis with no fixed terms of repayment.

Page 6