H.I.S. Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC303425 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

H.I.S. ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A K Basra

Mrs H Kaur

Mr I Singh

SECRETARY:

Mrs H Kaur

REGISTERED OFFICE:

Riversleigh

9 Kilwinning Road

Irvine

Ayrshire

KA12 8RR

REGISTERED NUMBER:

SC303425 (Scotland)

ACCOUNTANTS:

Robert J Hart & Company

Chartered Accountants

Riversleigh

9 Kilwinning Road

Irvine

Ayrshire

KA12 8RR

FIXED ASSETS

Intangible assets

4

358

408

Tangible assets

5

43,021

29,087

43,379

29,495

CURRENT ASSETS

Stocks

22,500

22,750

Debtors

6

27,934

23,482

Cash at bank and in hand

94,328

98,567

144,762

144,799

CREDITORS

Amounts falling due within one year

7

50,289

64,659

NET CURRENT ASSETS

94,473

80,140

TOTAL ASSETS LESS CURRENT LIABILITIES

137,852

109,635

CREDITORS

Amounts falling due after more than one year

8

(10,137

)

-

PROVISIONS FOR LIABILITIES

10

(7,688

)

(4,301

)

NET ASSETS

120,027

105,334

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

120,024

105,331

120,027

105,334

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement 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:

Mr I Singh - Director

1.	STATUTORY INFORMATION

H.I.S. Enterprises Limited 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.

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 2007, is being amortised evenly over its estimated useful life of twenty 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.

Short leasehold

-

over 5 years

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2018 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2018

and 30 June 2019

1,000

AMORTISATION

At 1 July 2018

592

Charge for year

50

At 30 June 2019

642

NET BOOK VALUE

At 30 June 2019

358

At 30 June 2018

408

5.	TANGIBLE FIXED ASSETS

Plant and

Short

machinery

leasehold

etc

Totals

£

£

£

COST

At 1 July 2018

9,575

89,062

98,637

Additions

-

27,720

27,720

Disposals

-

(10,995

)

(10,995

)

At 30 June 2019

9,575

105,787

115,362

DEPRECIATION

At 1 July 2018

9,575

59,975

69,550

Charge for year

-

10,380

10,380

Eliminated on disposal

-

(7,589

)

(7,589

)

At 30 June 2019

9,575

62,766

72,341

NET BOOK VALUE

At 30 June 2019

-

43,021

43,021

At 30 June 2018

-

29,087

29,087

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Other debtors

27,934

23,482

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Hire purchase contracts

3,686

159

Trade creditors

8,954

9,048

Taxation and social security

33,245

41,430

Other creditors

4,404

14,022

50,289

64,659

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.19

30.6.18

£

£

Hire purchase contracts

10,137

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.19

30.6.18

£

£

Hire purchase contracts

13,823

159

10.	PROVISIONS FOR LIABILITIES

30.6.19

30.6.18

£

£

Deferred tax

7,688

4,301

Deferred

tax

£

Balance at 1 July 2018

4,301

Charge to Income Statement during year

3,387

Balance at 30 June 2019

7,688

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the amount due from H.I.S Property Ltd, a company with common directors, was

£26,353 (2018: £21,694).