HOROPITO_LIMITED - Accounts


Company Registration No. 10984513 (England and Wales)
HOROPITO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2018
PAGES FOR FILING WITH REGISTRAR
HOROPITO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HOROPITO LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2018
30 September 2018
- 1 -
2018
Notes
£
£
Fixed assets
Intangible assets
3
15,337
Tangible assets
4
998
16,335
Current assets
Debtors
5
680
Cash at bank and in hand
63,403
64,083
Creditors: amounts falling due within one year
6
(222,712)
Net current liabilities
(158,629)
Total assets less current liabilities
(142,294)
Capital and reserves
Called up share capital
7
235,000
Profit and loss reserves
(377,294)
Total equity
(142,294)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 23 June 2019
A Hope
Director
Company Registration No. 10984513
HOROPITO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2018
- 2 -
1
Accounting policies
Company information

Horopito Limited is a private company limited by shares incorporated in England and Wales. The registered office is 82 St John Street, London, EC1M 4JN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Going concern

As at the balance sheet date, the financial statements show that the company has liabilities in excess of assets of £142,294 as a result of losses made to date. The financial statements have been prepared on a going concern basis as the director has confirmed that he will continue to support the company for foreseeable future and meet the excess liabilities if the company is unable to do so.

1.3
Reporting period

The financial statements for the period ended 30 September 2018 are the first financial statements of Horopito Limited. The company was incorporated on 27 September 2017 and therefore the financial statements are for a period of more than one year.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents and trademarks
Over 10 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipments
33.33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

HOROPITO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2018
1
Accounting policies
(Continued)
- 3 -
1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Debtor
Short term debtors are measured at transaction price, less any impairments
1.8
Creditors
Short term creditors are measured at the transaction price.
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including director) employed by the company during the period was 1.

HOROPITO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2018
- 4 -
3
Intangible fixed assets
Other
£
Cost
At 27 July 2017
-
Additions
15,948
At 30 September 2018
15,948
Amortisation and impairment
At 27 July 2017
-
Amortisation charged for the period
611
At 30 September 2018
611
Carrying amount
At 30 September 2018
15,337
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 27 July 2017
-
Additions
1,253
At 30 September 2018
1,253
Depreciation and impairment
At 27 July 2017
-
Depreciation charged in the period
255
At 30 September 2018
255
Carrying amount
At 30 September 2018
998
5
Debtors
2018
Amounts falling due within one year:
£
Other debtors
680
HOROPITO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2018
- 5 -
6
Creditors: amounts falling due within one year
2018
£
Trade creditors
5,042
Taxation and social security
4,281
Other creditors
213,389
222,712
7
Called up share capital
2018
£
Ordinary share capital
Issued and fully paid
235,000 Ordinary shares of £1 each
235,000

235,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2018
£
5,832
9
Events after the reporting date

The company issued 100,000 ordinary shares of £1 each for a consideration of £100,000 in November 2018. The shares were fully paid.

 

10
Related party transactions

Other creditors include loans made to the company by the director of £213,389. The loans are interest free and repayable on demand.

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