Registration number:
for the Year Ended
Strawberry Hill House Trading Services Limited
Contents
Section |
Page |
Company Information |
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Directors' Report |
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Statement of Income and Retained Earnings |
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Balance sheet |
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Notes to the Financial Statements |
Strawberry Hill House Trading Services Limited
Company Information
Directors |
A Baker T R Smith M R Snodin |
Registered office |
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Accountants |
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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:
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
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T R Smith
Director
Strawberry Hill House Trading Services Limited
Statement of Income and Retained Earnings
for the Year Ended 31 December 2017
Note |
2017 |
2016 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit/(loss) |
- |
- |
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Profit/(loss) before tax |
- |
- |
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Profit/(loss) for the financial year |
- |
- |
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Retained earnings brought forward |
- |
- |
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Retained earnings carried forward |
- |
- |
Continuing operations
All results are derived wholly from continuing operations.
Strawberry Hill House Trading Services Limited
(Registration number: 07880487)
Balance sheet as at 31 December 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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Stock |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Share capital and reserves |
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Called up share capital |
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Total equity |
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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:
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• |
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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
.........................................
T R Smith
Director
Strawberry Hill House Trading Services Limited
Notes to the Financial Statements
for the Year Ended 31 December 2017
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.
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
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.
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.
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.
Tangible fixed assets |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost |
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At 1 January 2017 |
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At 31 December 2017 |
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Depreciation |
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At 1 January 2017 |
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Charge for the year |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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At 31 December 2016 |
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Strawberry Hill House Trading Services Limited
Notes to the Financial Statements
for the Year Ended 31 December 2017 (continued)
Stock |
2017 |
2016 |
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Stock |
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Debtors |
2017 |
2016 |
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Trade debtors |
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- |
Prepayments |
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Creditors |
2017 |
2016 |
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Due within one year |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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Share capital and reserves |
Allotted, called up and fully paid shares
2017 |
2016 |
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No. |
£ |
No. |
£ |
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- |
- |
- |
- |
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.
Strawberry Hill House Trading Services Limited
Notes to the Financial Statements
for the Year Ended 31 December 2017 (continued)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Related party transactions |