Hawker Consumer Publications Limited Filleted accounts for Companies House (small and micro)

HAWKER CONSUMER PUBLICATIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02086444

Hawker Consumer Publications Limited

Filleted Unaudited Abridged Financial Statements

30 June 2018

Hawker Consumer Publications Limited

Abridged Financial Statements

Year Ended 30 June 2018

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

Hawker Consumer Publications Limited

Abridged Statement of Financial Position

30 June 2018

	2018	2017
Note	£	£

Fixed Assets

Intangible assets	5	25,814	27,965
Tangible assets	6	4,357	5,294
		--------	--------
		30,171	33,259

Current Assets

Stocks	300	300
Debtors	149,830	166,561
Cash at bank and in hand	61,904	76,496
	---------	---------
	212,034	243,357

Creditors: amounts falling due within one year	110,337	95,067
	---------	---------
Net Current Assets	101,697	148,290
	---------	---------
Total Assets Less Current Liabilities	131,868	181,549

Provisions

Taxation including deferred tax	828	1,006
	---------	---------
Net Assets	131,040	180,543
	---------	---------

Capital and Reserves

Called up share capital	7	100	100
Profit and loss account		130,940	180,443
		---------	---------
Shareholders Funds		131,040	180,543
		---------	---------

These abridged 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 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 30 June 2018 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

Hawker Consumer Publications Limited

Abridged Statement of Financial Position (continued)

30 June 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 29 March 2019 , and are signed on behalf of the board by:

P H Petker

Director

Company registration number: 02086444

Hawker Consumer Publications Limited

Notes to the Abridged Financial Statements

Year Ended 30 June 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, Derbyshire S40 1LA. The company's place of business is Culvert House, Culvert Road, London SW11 5DH .

2. Statement of compliance

These abridged 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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.

Revenue recognition

Turnover in the accounts represents amounts received for goods and services net of VAT and trade discounts. Advance ticket sales and event sponsorship revenue is credited to the profit and loss account as the events take place.

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 .

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses .

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Black Beauty Publishing Rights	-	20 years straight line
Afro Hair & Beauty Rights	-	20 years straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Plant & Machinery	-	20% reducing balance
Fixtures & Fittings	-	10% reducing balance
Computer Equipment	-	20% reducing balance

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.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2017: 5 ).

5. Intangible assets

	£
Cost
At 1 July 2017 and 30 June 2018	43,022
	--------
Amortisation
At 1 July 2017	15,057
Charge for the year	2,151
	--------
At 30 June 2018	17,208
	--------
Carrying amount
At 30 June 2018	25,814
	--------
At 30 June 2017	27,965
	--------

6. Tangible assets

	£
Cost
At 1 July 2017 and 30 June 2018	33,470
	--------
Depreciation
At 1 July 2017	28,176
Charge for the year	937
	--------
At 30 June 2018	29,113
	--------
Carrying amount
At 30 June 2018	4,357
	--------
At 30 June 2017	5,294
	--------

7. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 0.01 each	10,000	100.00	10,000	100.00
	--------	--------	--------	--------

8. Related party transactions

Entities Under Common Control During the year the company provided and received short term loans from related parties. The balance outstanding due to related parties at the year end date is as follows :

	2018	2017
	£	£
Entities under common control	46,132	40,374