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Registration number: 10570654

Prepared for the registrar (filleted)

HartreeWorks Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2019

 

HartreeWorks Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

HartreeWorks Ltd

Company Information

Director

Mr Peter John Hartree

Registered office

The Warehouse
Anchor Quay
Penryn
Cornwall
TR10 8GZ

 

HartreeWorks Ltd

(Registration number: 10570654)
Balance Sheet as at 31 January 2019

Note

2019
£

2018
£

Fixed assets

 

Tangible assets

4

927

1,288

Current assets

 

Debtors

5

220

-

Cash at bank and in hand

 

13,440

8,922

 

13,660

8,922

Creditors: Amounts falling due within one year

6

(6,680)

(4,217)

Net current assets

 

6,980

4,705

Total assets less current liabilities

 

7,907

5,993

Provisions for liabilities

(176)

-

Net assets

 

7,731

5,993

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

7,730

5,992

Total equity

 

7,731

5,993

 

HartreeWorks Ltd

(Registration number: 10570654)
Balance Sheet as at 31 January 2019

For the financial year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 August 2019
 

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

Mr Peter John Hartree
Director

 

HartreeWorks Ltd

Notes to the Financial Statements for the Year Ended 31 January 2019

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Warehouse
Anchor Quay
Penryn
Cornwall
TR10 8GZ
United Kingdom

These financial statements were authorised for issue by the director on 16 August 2019.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

HartreeWorks Ltd

Notes to the Financial Statements for the Year Ended 31 January 2019

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. 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.

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 the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

HartreeWorks Ltd

Notes to the Financial Statements for the Year Ended 31 January 2019

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2018 - 0).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2018

1,599

1,599

Additions

258

258

At 31 January 2019

1,857

1,857

Depreciation

At 1 February 2018

311

311

Charge for the year

619

619

At 31 January 2019

930

930

Carrying amount

At 31 January 2019

927

927

At 31 January 2018

1,288

1,288

5

Debtors

2019
£

2018
£

Trade debtors

220

-

220

-

 

HartreeWorks Ltd

Notes to the Financial Statements for the Year Ended 31 January 2019

6

Creditors

Creditors: amounts falling due within one year

2019
£

2018
£

Due within one year

Taxation and social security

6,173

3,918

Other creditors

507

299

6,680

4,217