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Registration number: 04024808

8hwe Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2017

T Burton & Co Ltd
Suite 3,
55 Liddon Road
Bromley
Kent
BR1 2SR

 

8hwe Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
8hwe Limited
for the Year Ended 30 June 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 8hwe Limited for the year ended 30 June 2017 as set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of 8hwe Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of 8hwe Limited and state those matters that we have agreed to state to the Board of Directors of 8hwe Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 8hwe Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that 8hwe Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 8hwe Limited. You consider that 8hwe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of 8hwe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

T Burton & Co Ltd
Suite 3,
55 Liddon Road
Bromley
Kent
BR1 2SR

13 October 2017

 

8hwe Limited

(Registration number: 04024808)
Balance Sheet as at 30 June 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

3

3,281

3,155

Current assets

 

Debtors

4

8,204

51,585

Cash at bank and in hand

 

290,879

265,807

 

299,083

317,392

Creditors: Amounts falling due within one year

5

(85,809)

(91,505)

Net current assets

 

213,274

225,887

Net assets

 

216,555

229,042

Capital and reserves

 

Called up share capital

5,000

5,000

Profit and loss account

211,555

224,042

Total equity

 

216,555

229,042

For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 13 October 2017 and signed on its behalf by:
 

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

J McLaren

Director

 

8hwe Limited

Notes to the Financial Statements for the Year Ended 30 June 2017

1

General information

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

The address of its registered office is:
Suite 3
55 Liddon Road
Bromley
Kent
BR1 2SR

These financial statements were authorised for issue by the Board on 13 October 2017.

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.

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

Plant and machinery

20% on cost

Fixtures and fittings

20% on cost

Computer equipment

20% on cost

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.

 

8hwe Limited

Notes to the Financial Statements for the Year Ended 30 June 2017

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.

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.

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.

 

8hwe Limited

Notes to the Financial Statements for the Year Ended 30 June 2017

3

Tangible assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 July 2016

40,014

1,648

41,662

Additions

4,101

-

4,101

At 30 June 2017

44,115

1,648

45,763

Depreciation

At 1 July 2016

36,859

1,648

38,507

Charge for the year

3,975

-

3,975

At 30 June 2017

40,834

1,648

42,482

Carrying amount

At 30 June 2017

3,281

-

3,281

At 30 June 2016

3,155

-

3,155

4

Debtors

2017
£

2016
£

Trade debtors

2,920

45,335

Other debtors

5,284

6,250

Total current trade and other debtors

8,204

51,585

5

Creditors

Note

2017
£

2016
£

Due within one year

 

Trade creditors

 

-

(1)

Amounts owed to group undertakings and undertakings in which the company has a participating interest

38,584

42,452

Taxation and social security

 

16,606

21,099

Other creditors

 

30,619

27,955

 

85,809

91,505


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