Hass Foods Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07110875 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Hass Foods Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTOR:

Mr Orcun Hassan

REGISTERED OFFICE:

Foldfarm

Galley Lane

Barnet

Hertfordshire

EN5 4RA

REGISTERED NUMBER:

07110875 (England and Wales)

ACCOUNTANTS:

ADPL LLP

293 Green Lanes

London

London

N13 4XS

FIXED ASSETS

Tangible assets

4

211,365

183,543

CURRENT ASSETS

Stocks

27,564

17,871

Debtors

5

62,463

38,914

Cash in hand

29,572

12,725

119,599

69,510

CREDITORS

Amounts falling due within one year

6

152,521

130,189

NET CURRENT LIABILITIES

(32,922

)

(60,679

)

TOTAL ASSETS LESS CURRENT LIABILITIES

178,443

122,864

CREDITORS

Amounts falling due after more than one year

7

(72,532

)

(24,440

)

PROVISIONS FOR LIABILITIES

(39,091

)

-

NET ASSETS

66,820

98,424

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

66,720

98,324

SHAREHOLDERS' FUNDS

66,820

98,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director on 11 April 2019 and were signed by:

Mr Orcun Hassan - Director

1.	STATUTORY INFORMATION

Hass Foods Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2017 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2018

39,800

145,040

45,124

57,029

286,993

Additions

-

38,954

-

12,794

51,748

At 31 December 2018

39,800

183,994

45,124

69,823

338,741

DEPRECIATION

At 1 January 2018

3,980

72,146

11,160

16,164

103,450

Charge for year

3,980

11,185

3,396

5,365

23,926

At 31 December 2018

7,960

83,331

14,556

21,529

127,376

NET BOOK VALUE

At 31 December 2018

31,840

100,663

30,568

48,294

211,365

At 31 December 2017

35,820

72,894

33,964

40,865

183,543

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2018

and 31 December 2018

26,770

DEPRECIATION

At 1 January 2018

2,677

Charge for year

2,409

At 31 December 2018

5,086

NET BOOK VALUE

At 31 December 2018

21,684

At 31 December 2017

24,093

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

28,933

22,898

Other debtors

17,825

-

VAT

15,705

16,016

62,463

38,914

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

41,850

22,104

Funding circle loan <1 yr

14,315

-

Hire purchase contracts

8,831

8,831

Trade creditors

73,247

78,664

Tax

-

6,255

Social security and other taxes

(538

)

5,103

Other payroll deductions

281

-

Pension

34

-

Other creditors

5,500

-

Credit card account

6,731

7,732

Directors' current accounts

770

-

Accruals and deferred income

1,500

1,500

152,521

130,189

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Funding circle loan >1 yr

57,260

-

Hire purchase contracts

15,272

24,440

72,532

24,440

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 (2017 - £19,200) were paid to the director .

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Hass Foods Ltd for the year ended 31 December 2018 which comprise the Profit & Loss

Account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Hass Foods Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hass Foods Ltd and state those matters that we have agreed to state to the director of Hass Foods Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Hass Foods Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hass Foods Ltd. You consider that Hass Foods Ltd 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 financial statements of Hass Foods Ltd. 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 financial statements.

ADPL LLP

293 Green Lanes

London

London

N13 4XS

Date: .............................................