Heypac Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01386560 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Heypac Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

Mr D H Monds

Mr N W Harrison

REGISTERED OFFICE:

Unit 3

The Royston Centre

Lynchford Road

Ash Vale

Surrey

GU12 5PQ

REGISTERED NUMBER:

01386560 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

FIXED ASSETS

Tangible assets

4

36,988

30,326

Investments

5

733

727

37,721

31,053

CURRENT ASSETS

Stocks

406,698

389,976

Debtors

6

140,802

169,139

Cash at bank and in hand

295,898

224,715

843,398

783,830

CREDITORS

Amounts falling due within one year

7

254,608

198,327

NET CURRENT ASSETS

588,790

585,503

TOTAL ASSETS LESS CURRENT LIABILITIES

626,511

616,556

PROVISIONS FOR LIABILITIES

2,848

1,168

NET ASSETS

623,663

615,388

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

613,663

605,388

SHAREHOLDERS' FUNDS

623,663

615,388

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2020 and were signed on its behalf by:

Mr D H Monds - Director

Mr N W Harrison - Director

1.	STATUTORY INFORMATION

Heypac 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance and 10% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving

at the operating result.

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 9 (2019 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

201,882

Additions

22,468

At 31 March 2020

224,350

DEPRECIATION

At 1 April 2019

171,556

Charge for year

15,806

At 31 March 2020

187,362

NET BOOK VALUE

At 31 March 2020

36,988

At 31 March 2019

30,326

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2019

727

Exchange differences

6

At 31 March 2020

733

NET BOOK VALUE

At 31 March 2020

733

At 31 March 2019

727

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

105,133

122,526

Other debtors

35,669

46,613

140,802

169,139

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

58,443

87,295

Amounts owed to group undertakings

173,626

72,470

Taxation and social security

7,180

28,523

Other creditors

15,359

10,039

254,608

198,327

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.20

31.3.19

£

£

Within one year

29,850

29,850

Between one and five years

119,400

119,400

In more than five years

27,363

57,213

176,613

206,463

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 were paid to the directors .

During the year, Heypac Limited made sales of £344,636 (2019 - £493,584) to Heypac Inc., its

subsidiary undertaking.

During the year, Heypac Limited made purchase of £8,975 (2019:£15,044) to Heypac Inc., its

subsidiary undertaking.

At the balance sheet date, the company had the following balances with related parties:

Heypac Inc.

31.3.20

31.3.19

Trade Debtors

£25,382

£115,467

31.3.20

31.3.19

Trade Creditors

Nil

Nil

At the year end the company owed Heypac Inc. of £173,626 (2019: £72,470). The company owned

95% of the share capital of Heypac Inc..

10.	ULTIMATE CONTROLLING PARTY

The Company was controlled during the year by N W Harrison who owns 55% of the shares in the

Company.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Heypac Limited for the year ended 31 March 2020 which comprise the

Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Heypac Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Heypac Limited and state those matters that we have agreed to state to the Board of Directors of Heypac Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heypac Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Heypac Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Heypac Limited. You consider that Heypac Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Heypac Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

Date: .............................................