Strawberry Hill House Trading Services Limited - Period Ending 2017-12-31

Registration number: 07880487

Strawberry Hill House Trading Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

Strawberry Hill House Trading Services Limited

Contents

Section	Page
Company Information	1
Directors' Report	2
Statement of Income and Retained Earnings	3
Balance sheet	4
Notes to the Financial Statements	5 to 9

Strawberry Hill House Trading Services Limited

Company Information

Directors

A Baker T R Smith M R Snodin

Registered office

268 Waldergrave Road Twickenham Middlesex TW1 4ST

Accountants

Harmer Slater Limited 79a High Street Teddington Middlesex TW11 8HG

Page 1

Strawberry Hill House Trading Services Limited

Directors' Report for the Year Ended 31 December 2017

The directors present their annual report on the affairs of Strawberry Hill House Trading Services Limited, together with the financial statements for the year ended 31 December 2017.

Principal activity

The principal activity of the company is that of the trading company of Strawberry Hill House which includes gift shop sales, events and hire. The company is a wholly owned subsidiary of, and is required to donate its profit to, The Strawberry Hill Trust.

Directors of the company

The directors who served throughout the year and up to date of authorisation of this report were as follows:

A Baker (appointed 14 December 2017)

T R Smith

M R Snodin

Going concern

The company's operations are dependent on its parent company, The Strawberry Hill Trust, continuing to manage Strawberry Hill House. The directors believe this will continue for the foreseeable future and these financial statements have therefore been prepared on a going concern basis.

Small companies provision statement

The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors' report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.

The directors' report was approved by the board on 26 September 2018 and signed on its behalf by:

.........................................
T R Smith
Director

Page 2

Strawberry Hill House Trading Services Limited

Statement of Income and Retained Earnings
for the Year Ended 31 December 2017

	Note	2017  £	2016  £
Turnover		117,722	147,157
Cost of sales		(15,162)	(49,413)
Gross profit		102,560	97,744
Administrative expenses		(102,560)	(97,744)
Operating profit/(loss)		-	-
Profit/(loss) before tax		-	-
Profit/(loss) for the financial year		-	-
Retained earnings brought forward		-	-
Retained earnings carried forward		-	-

Continuing operations
All results are derived wholly from continuing operations.
 

The notes on pages 5 to 9 form an integral part of these financial statements.
Page 3

Strawberry Hill House Trading Services Limited

(Registration number: 07880487)
Balance sheet as at 31 December 2017

	Note	2017  £	2016  £
Fixed assets
Tangible fixed assets	3	5,985	7,188
Current assets
Stock	4	50,861	46,833
Debtors	5	1,376	961
Cash at bank and in hand		8,350	18,821
		60,587	66,615
Creditors: Amounts falling due within one year	6	(66,472)	(73,703)
Net current liabilities		(5,885)	(7,088)
Net assets		100	100
Share capital and reserves
Called up share capital	7	100	100
Total equity		100	100

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements of Strawberry Hill House Trading Services Limited were approved and authorised for issue by the board on 26 September 2018. and signed on its behalf by:
 

.........................................

T R Smith

Director

The notes on pages 5 to 9 form an integral part of these financial statements.
Page 4

Strawberry Hill House Trading Services Limited

Notes to the Financial Statements
for the Year Ended 31 December 2017

1	General information

Strawberry Hill House Trading Services Limited (the 'company') is a private company limited by share capital incorporated in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors report on page 2.

2	Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The company's operations are dependent on its parent company, The Strawberry Hill Trust, continuing to manage Strawberry Hill House. The directors believe this will continue for the foreseeable future and these financial statements have therefore been prepared on a going concern basis.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pounds sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Judgements and key sources of estimation uncertainty

There are no critical judgements made by the directors in the process of applying the company’s accounting policies which have the most significant effect on the amounts recognised in the financial statements.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for goods sold and services rendered in the ordinary course of the Company’s activities and is shown net of value added tax, returns and discounts. The Company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Page 5

Strawberry Hill House Trading Services Limited

Notes to the Financial Statements
for the Year Ended 31 December 2017 (continued)

2	Accounting policies (continued)

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Asset class	Depreciation method and rate
Shop equipment	10% on cost
Equipment, fixtures and fittings	10% on cost

Cash and cash equivalents

Cash comprises cash on hand and held at bank.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stock

Stock is stated at the lower of cost and estimated net realisable value (selling price less costs to sell). Cost is determined using the first-in, first-out (FIFO) method.

Stocks are assessed for impairment and, if stocks are impaired, the carrying amount is reduced to its net realisable value and any impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods acquired or services received acquired in the ordinary course of business. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 6

Strawberry Hill House Trading Services Limited

Notes to the Financial Statements
for the Year Ended 31 December 2017 (continued)

2	Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss as they fall due over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing such instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Tangible fixed assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost
At 1 January 2017	7,765	4,261	12,026
At 31 December 2017	7,765	4,261	12,026
Depreciation
At 1 January 2017	3,884	954	4,838
Charge for the year	777	426	1,203
At 31 December 2017	4,661	1,380	6,041
Carrying amount
At 31 December 2017	3,104	2,881	5,985
At 31 December 2016	3,881	3,307	7,188

Page 7

Strawberry Hill House Trading Services Limited

Notes to the Financial Statements
for the Year Ended 31 December 2017 (continued)

4

Stock

	2017  £	2016  £
Stock	50,861	46,833

5

Debtors

	2017  £	2016  £
Trade debtors	415	-
Prepayments	961	961
	1,376	961

6

Creditors

	2017  £	2016  £
Due within one year
Trade creditors	678	1,313
Social security and other taxes	6,182	1,236
Other creditors	57,812	69,454
Accrued expenses	1,800	1,700
	66,472	73,703

7	Share capital and reserves

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary shares of £1 each	-	-	-	-

The company has one class of share capital which carries no right to fixed income.

Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

Page 8

Strawberry Hill House Trading Services Limited

Notes to the Financial Statements
for the Year Ended 31 December 2017 (continued)

8	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

9	Related party transactions

The company operates the gift shop and organises hirings and events on behalf of its parent company.
 

Page 9