false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2019-01-01
Sage Accounts Production Advanced 2019 - FRS102_2019
109,856
98,816
14,776
223,448
223,448
109,856
xbrli:pure
xbrli:shares
iso4217:GBP
1120166
2019-01-01
2019-12-31
1120166
2019-12-31
1120166
2018-12-31
1120166
2018-01-01
2018-12-31
1120166
2018-12-31
1120166
core:FurnitureFittings
2019-01-01
2019-12-31
1120166
bus:Director2
2019-01-01
2019-12-31
1120166
core:LandBuildings
2018-12-31
1120166
core:FurnitureFittings
2018-12-31
1120166
core:LandBuildings
2019-12-31
1120166
core:FurnitureFittings
2019-12-31
1120166
core:WithinOneYear
2019-12-31
1120166
core:WithinOneYear
2018-12-31
1120166
core:LandBuildings
2019-01-01
2019-12-31
1120166
core:ShareCapital
2019-12-31
1120166
core:ShareCapital
2018-12-31
1120166
core:RetainedEarningsAccumulatedLosses
2019-12-31
1120166
core:RetainedEarningsAccumulatedLosses
2018-12-31
1120166
core:BetweenOneFiveYears
2019-12-31
1120166
core:BetweenOneFiveYears
2018-12-31
1120166
core:CostValuation
core:Non-currentFinancialInstruments
2018-12-31
1120166
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2019-12-31
1120166
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2019-12-31
1120166
core:CostValuation
core:Non-currentFinancialInstruments
2019-12-31
1120166
core:Non-currentFinancialInstruments
2019-12-31
1120166
core:Non-currentFinancialInstruments
2018-12-31
1120166
core:LandBuildings
2018-12-31
1120166
core:FurnitureFittings
2018-12-31
1120166
bus:SmallEntities
2019-01-01
2019-12-31
1120166
bus:Audited
2019-01-01
2019-12-31
1120166
bus:FullAccounts
2019-01-01
2019-12-31
1120166
bus:SmallCompaniesRegimeForAccounts
2019-01-01
2019-12-31
1120166
bus:PrivateLimitedCompanyLtd
2019-01-01
2019-12-31
1120166
core:LandBuildings
core:LongLeaseholdAssets
2019-01-01
2019-12-31
COMPANY REGISTRATION NUMBER:
1120166
Northmace & Hendon Limited
|
|
Filleted Financial Statements
|
|
Northmace & Hendon Limited
|
|
Directors' Responsibilities Statement
|
|
Year ended 31 December 2019
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Northmace & Hendon Limited
|
|
Statement of Financial Position
|
|
31 December 2019
Fixed assets
Tangible assets
|
5
|
|
13,948
|
18,828
|
Investments
|
6
|
|
223,448
|
109,856
|
|
|
---------
|
---------
|
|
|
237,396
|
128,684
|
|
|
|
|
|
Current assets
Stocks
|
718,381
|
|
789,101
|
Debtors
|
7
|
349,448
|
|
265,617
|
Cash at bank and in hand
|
142,845
|
|
168,171
|
|
------------
|
|
------------
|
|
1,210,674
|
|
1,222,889
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
354,085
|
|
313,862
|
|
------------
|
|
------------
|
Net current assets
|
|
856,589
|
909,027
|
|
|
------------
|
------------
|
Total assets less current liabilities
|
|
1,093,985
|
1,037,711
|
|
|
|
|
|
Provisions
|
|
36,560
|
36,560
|
|
|
------------
|
------------
|
Net assets
|
|
1,057,425
|
1,001,151
|
|
|
------------
|
------------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
100,000
|
100,000
|
Profit and loss account
|
|
957,425
|
901,151
|
|
|
------------
|
------------
|
Shareholders funds
|
|
1,057,425
|
1,001,151
|
|
|
------------
|
------------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
18 March 2020
, and are signed on behalf of the board by:
Company registration number:
1120166
Northmace & Hendon Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 December 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47 - 57 Marylebone Lane, London, W1U 2 NT.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The principal activity of the company during the year was the supply of goods to the hotel and leisure industry.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the time of signing these accounts, Covid 19 is having an impact on the Company's business. The directors' have considered the impact for the forseeable future, put immediate measures in place and believe that preparing the accounts on a going concern basis is wholly appropriate.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Leasehold improvements
|
-
|
Over the term of the lease
|
|
Computer, fixtures and fittings
|
-
|
20% straight line
|
|
|
|
|
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions for dilapidations are recognised on a lease by lease basis and are based on the company's best estimate of the likely committed cash outflow.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Derivative financial instruments are recognised at fair value using a valuation technique with any gains or losses being reported in the profit or loss. Outstanding derivatives at reporting date are included under the appropriate format heading depending on the nature of the derivative.
Defined contribution plans
The company makes payments to personal pension schemes on behalf of certain employees. The assets of these schemes are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2018:
7
).
5.
Tangible assets
|
Leasehold improvements
|
Fixtures and fittings
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 January 2019
|
41,517
|
29,506
|
71,023
|
Disposals
|
–
|
(
13,777)
|
(
13,777)
|
|
--------
|
--------
|
--------
|
At 31 December 2019
|
41,517
|
15,729
|
57,246
|
|
--------
|
--------
|
--------
|
Depreciation
|
|
|
|
At 1 January 2019
|
23,065
|
29,130
|
52,195
|
Charge for the year
|
4,613
|
267
|
4,880
|
Disposals
|
–
|
(
13,777)
|
(
13,777)
|
|
--------
|
--------
|
--------
|
At 31 December 2019
|
27,678
|
15,620
|
43,298
|
|
--------
|
--------
|
--------
|
Carrying amount
|
|
|
|
At 31 December 2019
|
13,839
|
109
|
13,948
|
|
--------
|
--------
|
--------
|
At 31 December 2018
|
18,452
|
376
|
18,828
|
|
--------
|
--------
|
--------
|
|
|
|
|
6.
Investments
|
Other investments other than loans
|
|
£
|
Valuation
|
|
At 1 January 2019
|
109,856
|
Additions
|
98,816
|
Revaluations
|
14,776
|
|
---------
|
At 31 December 2019
|
223,448
|
|
---------
|
Impairment
|
|
At 1 January 2019 and 31 December 2019
|
–
|
|
---------
|
|
|
Carrying amount
|
|
At 31 December 2019
|
223,448
|
|
---------
|
At 31 December 2018
|
109,856
|
|
---------
|
|
|
7.
Debtors
|
2019
|
2018
|
|
£
|
£
|
Trade debtors
|
339,294
|
258,604
|
Other debtors
|
10,154
|
7,013
|
|
---------
|
---------
|
|
349,448
|
265,617
|
|
---------
|
---------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2019
|
2018
|
|
£
|
£
|
Bank loans and overdrafts
|
–
|
3,377
|
Trade creditors
|
244,051
|
131,203
|
Corporation tax
|
9,866
|
22,031
|
Social security and other taxes
|
8,104
|
–
|
Other creditors
|
92,064
|
157,251
|
|
---------
|
---------
|
|
354,085
|
313,862
|
|
---------
|
---------
|
|
|
|
9.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
|
223,448
|
109,856
|
|
---------
|
---------
|
|
|
|
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
|
–
|
363
|
|
----
|
----
|
|
|
|
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2019
|
2018
|
|
£
|
£
|
Not later than 1 year
|
10,250
|
10,250
|
Later than 1 year and not later than 5 years
|
28,188
|
38,438
|
|
--------
|
--------
|
|
38,438
|
48,688
|
|
--------
|
--------
|
|
|
|
11.
Summary audit opinion
The auditor's report for the year dated 18 March 2020 was unqualified.
The senior statutory auditor was
PAUL MATTEI
, for and on behalf of
Leaman Mattei
.
12.
Related party transactions
During the year, the company paid rent of £10,250 (2018: £10,250) to Duck Island Limited, a company controlled by
M H J Plaut
and J L Plaut. The company received management charges of £7,000 (2018: £Nil) from Duck Island Limited. The company paid management charges of £Nil (2018: £33,000) to Duck Island Limited.
13.
Controlling party
The ultimate controlling party is M H J Plaut and a close family member.