Hyland Electronics Ltd. - Accounts to registrar (filleted) - small 18.2

Hyland Electronics Ltd. - Accounts to registrar (filleted) - small 18.2

HYLAND ELECTRONICS LTD. - Company Information

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REGISTERED NUMBER: SC242022 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

FOR

HYLAND ELECTRONICS LTD.
HYLAND ELECTRONICS LTD. (REGISTERED NUMBER: SC242022)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HYLAND ELECTRONICS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2019







DIRECTOR: H Landsborough





SECRETARY: A Diamond





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC242022 (Scotland)





ACCOUNTANTS: Cornerstone Accountants
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ
Page 1
HYLAND ELECTRONICS LTD. (REGISTERED NUMBER: SC242022)

BALANCE SHEET
31 JANUARY 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 1 1

CURRENT ASSETS
Stocks 4 7,250 7,250
Debtors 5 22 837
Cash at bank and in hand 30 140
7,302 8,227
CREDITORS
Amounts falling due within one year 6 48,558 44,000
NET CURRENT LIABILITIES (41,256 ) (35,773 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(41,255
)
(35,772
)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (41,256 ) (35,773 )
SHAREHOLDERS' FUNDS (41,255 ) (35,772 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31 October 2019 and were signed by:





H Landsborough - Director


The notes form part of these financial statements

Page 2
HYLAND ELECTRONICS LTD. (REGISTERED NUMBER: SC242022)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019

1. STATUTORY INFORMATION

Hyland Electronics Ltd. is a private company, limited by shares , registered in Scotland. 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.

The financial statements have been prepared on a going concern basis which assumes that the company will
continue in operational existence for the foreseeable future. The company's liabilities exceeded its assets by
£41,255 at 31 January 2019 (2018 - £35,772). The company is thus dependent on the continued financial support
of its creditors. The directors are confident of this continuing support and of the company's long term trading
prospects and on this basis considers it appropriate to prepare the financial statements on the going concern
basis. The financial statements do not include any adjustments that would result from the withdrawal of financial
support.

Turnover
Turnover represents the amounts derived from the provision of goods and services which fall within the
company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on the despatch of
goods.

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 a reducing balance basis.

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 Income Statement, 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.

Page 3 continued...
HYLAND ELECTRONICS LTD. (REGISTERED NUMBER: SC242022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2019

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2018
and 31 January 2019 82
DEPRECIATION
At 1 February 2018
and 31 January 2019 81
NET BOOK VALUE
At 31 January 2019 1
At 31 January 2018 1

4. STOCKS
2019 2018
£    £   
Stocks 7,250 7,250

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 22 22
Other debtors - 815
22 837

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 284 87
Other creditors 48,274 43,913
48,558 44,000

Page 4