HAILWOOD ACCOUNTANTS LIMITED

HAILWOOD ACCOUNTANTS LIMITED

HAILWOOD ACCOUNTANTS LIMITED - Company Information

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HAILWOOD ACCOUNTANTS LIMITED

Company Registration Number:
05077392 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2019

Period of accounts

Start date: 01 April 2018

End date: 31 March 2019

HAILWOOD ACCOUNTANTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2019

Balance sheet
Notes

HAILWOOD ACCOUNTANTS LIMITED

Balance sheet

As at 31 March 2019


Notes
2019
2018


£
£
Fixed assets
Intangible assets: 3 109,000 109,000
Tangible assets: 4 241,101 241,437
Investments: 5 130,000 130,000
Total fixed assets: 480,101 480,437
Current assets
Stocks: 11,046 10,607
Debtors: 6 59,575 46,480
Cash at bank and in hand: 55,679 33,358
Total current assets: 126,300 90,445
Creditors: amounts falling due within one year: 7 (81,680) (73,405)
Net current assets (liabilities): 44,620 17,040
Total assets less current liabilities: 524,721 497,477
Creditors: amounts falling due after more than one year: 8 (50,100) (73,625)
Total net assets (liabilities): 474,621 423,852
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 474,620 423,851
Shareholders funds: 474,621 423,852

The notes form part of these financial statements

HAILWOOD ACCOUNTANTS LIMITED

Balance sheet statements

For the year ending 31 March 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 May 2019
and signed on behalf of the board by:

Name: A D French
Status: Director

The notes form part of these financial statements

HAILWOOD ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Tangible fixed assets and depreciation policy

TaxationThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. GoodwillGoodwill arose on incorporation of the business and represents the inherent value in the firm's recurring fee income.Goodwill is measured at cost, as provided the firm's recurring fee income continues to grow, it is not considered a wasting asset.Tangible Assets Tangible assets are initially recorded at cost, and are 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:Office equipment - 25% reducing balanceFixtures and fittings - 25% reducing balanceIT Equipment - 33% reducing balance

Other accounting policies

Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currently of the entity.Fixed asset investmentsFixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.StocksStocks and work in progress 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 their present location and condition.Defined contribution plansContributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

HAILWOOD ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

2. Employees

2019 2018
Average number of employees during the period 5 5

HAILWOOD ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

3. Intangible Assets

Total
Cost £
At 01 April 2018 109,000
At 31 March 2019 109,000
Amortisation
At 01 April 2018 0
At 31 March 2019 0
Net book value
At 31 March 2019 109,000
At 31 March 2018 109,000

HAILWOOD ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

4. Tangible Assets

Total
Cost £
At 01 April 2018 256,002
Additions 588
At 31 March 2019 256,590
Depreciation
At 01 April 2018 14,565
Charge for year 924
At 31 March 2019 15,489
Net book value
At 31 March 2019 241,101
At 31 March 2018 241,437

HAILWOOD ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

5. Fixed investments

Cost At 1 April 2018 and 31 March 2019 £130,000ImpairmentAt 1 April 2018 and 31 March 2019 £ 0Carrying amountAt 31 March 2019 £130,000

HAILWOOD ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

6. Debtors

2019 2018
££
Debtors due after more than one year: 0 0

HAILWOOD ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

7. Creditors: amounts falling due within one year note

Bank loans and overdrafts £24,772Trade creditors £ 990Corporation tax £18,021Social security and other taxes £23,418Other creditors £14,479

HAILWOOD ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

8. Creditors: amounts falling due after more than one year note

Bank loans and overdrafts £50,100

HAILWOOD ACCOUNTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

9. Loans to directors

Directors' advances, credits and guaranteesAll movements on directors' advances, credits and guarantees, were as would be expected under normal market conditions, not material in terms of risk or benefits arising and would therefore not influence the users of these accounts when assessing the financial position of the company.