Company Registration No. 05146860 (England and Wales)
HANDIWORLD LIMITED
Unaudited accounts
for the year ended 31 December 2017
HANDIWORLD LIMITED
Unaudited accounts
Contents
HANDIWORLD LIMITED
Company Information
for the year ended 31 December 2017
Directors
Toby Davis
Michael Richard Moody
Secretary
Christopher William Szpak
Company Number
05146860 (England and Wales)
Registered Office
Salisbury House
London Wall
London
EC2M 5PS
England
Accountants
Fox Accountancy Limited
144 Hall Lane
Upminster
Essex
RM14 1AT
HANDIWORLD LIMITED
Statement of financial position
as at 31 December 2017
Intangible assets
28,180
29,951
Cash at bank and in hand
980
44,073
Creditors: amounts falling due within one year
(244,321)
(299,828)
Net current (liabilities)/assets
(56,502)
60,904
Net (liabilities)/assets
(28,322)
90,855
Called up share capital
69,962
69,962
Share premium
721,758
721,758
Profit and loss account
(820,042)
(700,865)
Shareholders' funds
(28,322)
90,855
For the year ending 31 December 2017 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.
Approved by the Board on 28 February 2018.
Toby Davis
Director
Company Registration No. 05146860
HANDIWORLD LIMITED
Notes to the Accounts
for the year ended 31 December 2017
HANDIWORLD LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05146860. The registered office is Salisbury House, London Wall, London, EC2M 5PS, England.
2
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.
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.
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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
HANDIWORLD LIMITED
Notes to the Accounts
for the year ended 31 December 2017
4
Intangible fixed assets
Goodwill
At 31 December 2017
187,661
At 31 December 2017
159,481
At 31 December 2017
28,180
At 31 December 2016
29,951
Patents are being written off in equal annual instalments over their estimated economic life of 10 and 20 years.
Finished goods
81,622
66,946
Trade debtors
13,628
154,020
Accrued income and prepayments
22,521
6,234
Other debtors
69,068
89,459
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Creditors: amounts falling due within one year
2017
2016
Trade creditors
21,880
86,226
Taxes and social security
2,646
2,074
Other creditors
201,007
201,806
On the 9th April 2009 the company issued loan stock in the sum of £100,000. Interest at a rate of 3% over the HSBC base rate was payable on these loans until 5th April 2014 after which the rate rose to 6% over the HSBC base rate, the final repayment was 31st December 2016. 40,000 warrants at a price of £1.25 each were issued to the loan providers, the expiry date of which was 31st December 2015.
In March 2014 the company issued loan stock in the sums of £90,000 and in April 2014 £10,000. Interest at a rate of 6% over the HSBC base rate is payable on £95,000 of these loans, with an interest rate of 6% being payable on £5,000, the final repayment date was 31st December 2016.
The net loan stock balance of £200,000 is included within other creditors.
HANDIWORLD LIMITED
Notes to the Accounts
for the year ended 31 December 2017
8
Average number of employees
During the year the average number of employees was 1 (2016: 2).
