ACCOUNTS - Final Accounts preparation

HAWKE SERVICES LIMITED - Company Information

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Registered number: 10036440

HAWKE SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2019

HAWKE SERVICES LIMITED

REGISTERED NUMBER: 10036440

BALANCE SHEET

AS AT 31 MARCH 2019

	2019	2019	2018	2018
Note	£	£	£	£


Current assets
Debtors: amounts falling due within one year	4	507,963		413,840
Cash at bank and in hand	5	10,213		11,055
		518,176		424,895
Creditors: amounts falling due within one year	6	(385,422)		(335,114)
Net current assets			132,754		89,781
Total assets less current liabilities			132,754		89,781

Net assets			132,754		89,781

Capital and reserves
Called up share capital	10,000	10,000
Profit and loss account	122,754	79,781
	132,754	89,781

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 December 2019.

C Georgiou

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

HAWKE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2019

1.	General information

Hawke Services Limited is a private company, limited by shares, incorporated in England and Wales, registration number 10036440. The registered office and principal place of business is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. The principal activity of the company is that of the provision of accountancy staff.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue for the provision of staff is recognised for the period in which the staff are provided to the professional practice.

2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.4

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 2

HAWKE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2019

2.Accounting policies (continued)

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the period was 86 (2018 - 87).

Debtors

					2019	2018
					£	£


Other debtors	499,294	413,840
Prepayments and accrued income	8,669	-
	507,963	413,840

Page 3

HAWKE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2019

5.	Cash and cash equivalents
		2019	2018
		£	£

Cash at bank and in hand	10,213	11,055
	10,213	11,055

6.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Trade creditors	55	-
Corporation tax	33,537	33,808
Other taxation and social security	222,562	256,306
Other creditors	45,000	45,000
Accruals and deferred income	84,268	-
	385,422	335,114

7.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £131,909 (2018: £151,312). No contributions were payable to the fund at the balance sheet date.

8.	Related party transactions
	The following transactions occurred with related parties during the year
		2019 Amounts due from/(to)	2018 Amounts due from/(to)
		£	£

Key management personnel

(45,000)

Page 4