Four Hats Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05232496 (England and Wales)

Financial Statements for the Year Ended 31 March 2020

for

Four Hats Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C J Turner

Mrs F Turner

REGISTERED OFFICE:

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

REGISTERED NUMBER:

05232496 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,328

3,387

Investments

6

258,644

370,503

262,972

373,890

CURRENT ASSETS

Debtors

7

6,000

-

Cash at bank

92,947

61,311

98,947

61,311

CREDITORS

Amounts falling due within one year

8

21,581

7,956

NET CURRENT ASSETS

77,366

53,355

TOTAL ASSETS LESS CURRENT LIABILITIES

340,338

427,245

PROVISIONS FOR LIABILITIES

14,821

27,069

NET ASSETS

325,517

400,176

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

9

14,045

108,706

Retained earnings

9

310,472

290,470

SHAREHOLDERS' FUNDS

325,517

400,176

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2020 and were signed on its behalf by:

C J Turner - Director

1.	STATUTORY INFORMATION

Four Hats 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes. Turnover is recognised at the point services are provided to customers.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five 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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment

Creditors

Short term creditors are measured at transaction price.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

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.

Fixed asset investments

The value of investments which are recorded in the company's books at fair value and are reviewed on a regular

basis by the Directors taking into account stock exchange values at the year end and the general economic

climate. After adjusting for the cost of disposals and acquisitions during the year, the directors may provide for a

reduction in the cost of investments being carried forward if they so consider it to be necessary.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

70,857

AMORTISATION

At 1 April 2019

and 31 March 2020

70,857

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2019

6,333

5,282

11,615

Additions

-

2,383

2,383

At 31 March 2020

6,333

7,665

13,998

DEPRECIATION

At 1 April 2019

4,830

3,398

8,228

Charge for year

375

1,067

1,442

At 31 March 2020

5,205

4,465

9,670

NET BOOK VALUE

At 31 March 2020

1,128

3,200

4,328

At 31 March 2019

1,503

1,884

3,387

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2019

370,503

Additions

31,268

Disposals

(69,538

)

Revaluations

(73,589

)

At 31 March 2020

258,644

NET BOOK VALUE

At 31 March 2020

258,644

At 31 March 2019

370,503

Cost or valuation at 31 March 2020 is represented by:

Other

investments

£

Valuation in 2017

73,420

Valuation in 2018

34,439

Valuation in 2019

47,195

Valuation in 2020

(73,589

)

Cost

177,179

258,644

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

6,000

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Corporation tax

4,262

4,420

Social security and other taxes

10,810

1,389

Directors' current accounts

4,759

650

Accruals and deferred income

1,750

1,497

21,581

7,956

9.

RESERVES

Retained earnings includes all current and prior period retained profits and loss, all of which, are distributable

reserves.