24Haymarket Limited Accounts

24HAYMARKET LIMITED - Company Information






24Haymarket Limited

	Company No. 07936588
		Information for Filing with The Registrar
		28 February 2019

at	28 February 2019
Company No.		07936588	Notes	2019	2018
				£	£
Fixed assets

	Tangible assets		3	34,672	46,229


				34,672	46,229
Current assets

	Debtors		4	206,218	105,745

	Cash at bank and in hand			461,153	501,255
				667,371	607,000
Creditors: Amount falling due within one year			5	(566,521)	(541,128)
Net current assets				100,850	65,872
Total assets less current liabilities				135,522	112,101




Net assets				135,522	112,101

Capital and reserves
	Called up share capital			11	11



	Profit and loss account		6	135,511	112,090

Total equity				135,522	112,101


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 28 February 2019 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 04 September 2019
And signed on its behalf by:
P. Tselentis
Director

for the year ended 28 February 2019

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Leasehold land and buildings

20% Straight line

Furniture, fittings and equipment

20% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2	Employees
			2019	2018
			Number	Number
		The average number of persons employed during the year :	4	3

3	Tangible fixed assets
			Land and buildings	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 March 2018	39,810	17,975	57,785




		At 28 February 2019	39,810	17,975	57,785
		Depreciation
		At 1 March 2018	7,962	3,594	11,556
		Charge for the year	3,595	7,962	11,557



		At 28 February 2019	11,557	11,556	23,113
		Net book values
		At 28 February 2019	28,253	6,419	34,672
		At 28 February 2018	31,848	14,381	46,229

4	Debtors
			2019	2018
			£	£
		Trade debtors	107,973	54,927



		VAT recoverable	13,143	11,854

		Other debtors	32,751	32,751
		Prepayments and accrued income	52,351	6,213
			206,218	105,745

5	Creditors:
		amounts falling due within one year
			2019	2018
			£	£




		Trade creditors	11,176	28,340

		Corporation tax	16,293	22,914

		Loans from directors	72,844	305,011
		Other creditors	258,195	29,198
		Accruals and deferred income	208,013	155,665
			566,521	541,128

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

7	Related party disclosures
				2019	2018
		Transactions with related parties		£	£

























































		Name of related party	T.R. Attwood
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		-	(35,188)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

		Name of related party	L.G. Dibden
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		-	(30,571)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

		Name of related party	I.J. Gray
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		-	(32,188)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

		Name of related party	C. Green
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		(33,688)	(33,688)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

		Name of related party	M.S. Gumienny
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		-	(33,688)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

		Name of related party	S.N.A. Leefe
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		-	(33,688)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

		Name of related party	D.M. Mitchell
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		-	(33,155)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

		Name of related party	J.L.G.L.C.M. Rihon
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		(33,688)	(33,688)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

		Name of related party	N.A.L. Stuart
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		-	(33,688)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

		Name of related party	P. Tselentis
		Description of relationship between the parties	Director
		Description of transaction and general amounts involved	Directors loan account
		Amount due from/(to) the related party		(5,468)	(5,468)
		Provision for doubtful debts due from the related party		-	-
		Amounts written off in the period in respect of debts from/(to) the related party		-	-

Additional information

Its registered number is:

07936588

24 Haymarket

1-2 Panton Street

London

SW1Y 4DG