| Hanna Brothers Limited |
| Notes to the Accounts |
| for the year ended 30 April 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rendering of services, which is recognised by reference to when the services are performed. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2019 |
|
2018 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 May 2018 |
373,909 |
|
|
At 30 April 2019 |
373,909 |
|
|
| 4 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
1,048 |
|
- |
|
Other debtors |
55,464 |
|
- |
|
|
|
|
|
|
56,512 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
244,054 |
|
245,868 |
|
Corporation tax |
4,869 |
|
9,353 |
|
Other creditors |
30 |
|
51 |
|
|
|
|
|
|
248,953 |
|
255,272 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
S Hanna |
|
2019 loan (interest bearing) |
- |
|
55,464 |
|
- |
|
55,464 |
|
|
|
- |
|
55,464 |
|
- |
|
55,464 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
The company received dividends of £85,000 from its wholly owned subsidiary, Lobley Hill Pharmacy Limited, during the year. The subsidiary has loaned funds to the company in prior periods. The loan balance as stated in note 5 is repayable on demand. An interest bearing loan was made to the director during the year, as shown in note 6. |
|
|
| 8 |
Controlling party |
|
|
The company is controlled by the director. |
|
|
| 9 |
Other information |
|
|
Hanna Brothers Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
72 Malvern Gardens |
|
Gateshead |
|
Tyne and Wear |
|
NE11 9LL |
