Hapanco Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08136715 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2018

FOR

HAPANCO LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

308

410

Investment property

6

350,000

620,000

350,308

620,410

CURRENT ASSETS

Debtors

7

56

-

Cash at bank and in hand

210,236

2,991

210,292

2,991

CREDITORS

Amounts falling due within one year

8

343,997

405,455

NET CURRENT LIABILITIES

(133,705

)

(402,464

)

TOTAL ASSETS LESS CURRENT LIABILITIES

216,603

217,946

PROVISIONS FOR LIABILITIES

9

4,186

10,883

NET ASSETS

212,417

207,063

CAPITAL AND RESERVES

Called up share capital

10

3

3

Non-distributable reserves

50,825

91,591

Retained earnings

161,589

115,469

SHAREHOLDERS' FUNDS

212,417

207,063

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

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

The directors acknowledge their 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 and Loss account has not been delivered.

The financial statements were approved by the Board of Directors on 12 April 2019 and were signed on its behalf by:

Dr H S Chowdrey - Director

1.	STATUTORY INFORMATION

Hapanco Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address are as below:

Registered number:

08136715

Registered office:

25 Saffrons Park

Eastbourne

East Sussex

BN20 7UX

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Fixtures and fittings

-

25% on reducing balance

All fixed assets are initially recorded at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the

contractual arrangements entered into. An equity instrument is any contract that evidences a

residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are

equivalent to a similar debt instrument, those financial instruments are classified as financial

liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and

gains or losses relating to financial liabilities are included in the profit and loss account.

Finance costs are calculated so as to produce a constant rate of return on the outstanding

liability.

Where the contractual terms of share capital do not have any terms meeting the definition of

a financial liability then this is classed as an equity instrument. Dividends and distributions

relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2017

and 31 July 2018

1,294

DEPRECIATION

At 1 August 2017

884

Charge for year

102

At 31 July 2018

986

NET BOOK VALUE

At 31 July 2018

308

At 31 July 2017

410

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2017

621,000

Additions

1,400

Disposals

(223,876

)

Revaluations

(47,524

)

At 31 July 2018

351,000

DEPRECIATION

At 1 August 2017

and 31 July 2018

1,000

NET BOOK VALUE

At 31 July 2018

350,000

At 31 July 2017

620,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as

restated

£

£

Prepayments and accrued income

56

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as

restated

£

£

Corporation tax

7,707

26,516

Other creditors

1,500

800

Directors' loan accounts

325,948

377,179

Accruals and deferred income

8,842

960

343,997

405,455

9.	PROVISIONS FOR LIABILITIES

2018

2017

as

restated

£

£

Deferred tax

Accelerated capital allowances

61

-

Other timing differences

4,125

10,883

4,186

10,883

Deferred

tax

£

Balance at 1 August 2017

10,883

Provided during year

(6,697

)

Balance at 31 July 2018

4,186

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

as restated

£

£

3

Ordinary

£1

3

3