Hazco (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03819977 (England and Wales)

HAZCO (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P R Hathway

S L Hathway

SECRETARIES:

P R Hathway

S L Hathway

REGISTERED OFFICE:

2 New Street

Pontnewydd

Cwmbran

Torfaen

NP44 1EE

REGISTERED NUMBER:

03819977 (England and Wales)

ACCOUNTANTS:

Green & Co

Chartered Certified Accountants

Pembroke House

Llantarnam Park Way

Cwmbran

Torfaen

NP44 3AU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

155,367

163,686

Investments

6

13,040

13,040

168,407

176,726

CURRENT ASSETS

Debtors

7

23,367

33,772

Cash at bank and in hand

63,292

11,434

86,659

45,206

CREDITORS

Amounts falling due within one year

8

73,426

71,546

NET CURRENT ASSETS/(LIABILITIES)

13,233

(26,340

)

TOTAL ASSETS LESS CURRENT LIABILITIES

181,640

150,386

CREDITORS

Amounts falling due after more than one year

9

52,848

60,313

NET ASSETS

128,792

90,073

CAPITAL AND RESERVES

Called up share capital

11

120

120

Retained earnings

128,672

89,953

SHAREHOLDERS' FUNDS

128,792

90,073

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

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors on 20th January 2020 and were signed on its behalf by:

P R Hathway - Director

1.	STATUTORY INFORMATION

Hazco (UK) Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being

amortised evenly over its estimated useful life of two years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on cost

Taxation

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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments in non-financial instruments are held at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st August 2018

and 31st July 2019

50,000

AMORTISATION

At 1st August 2018

and 31st July 2019

50,000

NET BOOK VALUE

At 31st July 2019

-

At 31st July 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1st August 2018

148,047

12,793

4,425

43,410

208,675

Additions

-

512

-

-

512

At 31st July 2019

148,047

13,305

4,425

43,410

209,187

DEPRECIATION

At 1st August 2018

-

8,713

2,421

33,855

44,989

Charge for year

-

1,275

664

6,892

8,831

At 31st July 2019

-

9,988

3,085

40,747

53,820

NET BOOK VALUE

At 31st July 2019

148,047

3,317

1,340

2,663

155,367

At 31st July 2018

148,047

4,080

2,004

9,555

163,686

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st August 2018

and 31st July 2019

34,460

DEPRECIATION

At 1st August 2018

24,905

Charge for year

6,892

At 31st July 2019

31,797

NET BOOK VALUE

At 31st July 2019

2,663

At 31st July 2018

9,555

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st August 2018

and 31st July 2019

13,040

NET BOOK VALUE

At 31st July 2019

13,040

At 31st July 2018

13,040

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

8,199

4,952

Other debtors

8,389

-

Hathway Enterprises Ltd

-

665

October House

5,069

-

Directors' current accounts

-

25,813

Prepayments

1,710

2,342

23,367

33,772

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

5,126

14,912

Hire purchase contracts

2,959

6,951

Trade creditors

3,840

9,679

Tax

26,768

9,035

Social security and other taxes

1,417

2,742

Pension

430

418

VAT

20,243

17,128

Other creditors

9,635

5,959

October House

-

1,722

Directors' current accounts

8

-

Accruals and deferred income

3,000

3,000

73,426

71,546

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans - 1-2 years

52,848

57,354

Hire purchase contracts

-

2,959

52,848

60,313

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

57,974

-

There is a fixed charge against the total carrying amount of freehold property which is pledged as

security against the companys bank loans.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

108

Ordinary A

£1

108

108

12

Ordinary B

£1

12

12

120

120

12.	RELATED PARTY DISCLOSURES

At 31 July 2019 the company owed £8 to the directors (2018: the company was owed £25,813 from

the directors).

At 31 July 2019 the company was owed £5,069 from October House (2018: the company owed

£1,722 to October House), a partnership under the joint control of the directors.