H L & S Limited - Filleted accounts

Registered number

04029735

H L & S Limited

Unaudited Report and Accounts

31 January 2020

H L & S Limited
Registered number:		04029735
Directors' Report

The directors present their report and accounts for the year ended 31 January 2020.

Principal activities
The company's principal activity during the year continued to be the retail sale of fishing tackle.

Directors
The following persons served as directors during the year:

	Mr D Bailey
	Mr W Hill

Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved and authorised for issue by the board on 2 June 2020 and signed on its behalf.





D Bailey
Director

H L & S Limited
Registered number:		04029735
Balance Sheet
as at 31 January 2020

Notes			2020			2019
£				£
Fixed assets
Tangible assets	3		34,361			39,898

Current assets
Stocks		274,288			251,419

Creditors: amounts falling due within one year	4	53,561			(114,167)

Net current assets			327,849			137,252

Total assets less current liabilities			362,210			177,150


Provisions for liabilities			-			(3,956)


Net assets			362,210			173,194

Capital and reserves
Called up share capital			10			10
Profit and loss account			362,200			173,184

Shareholder's funds			362,210			173,194

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
For the year ending 31/01/2020 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




D Bailey
Director
Approved by the board on 2 June 2020

H L & S Limited
Notes to the Accounts
for the year ended 31 January 2020


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) and the Companies Act 2006.

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold Property Impovements & F&F			10% reducing balance
	Plant and machinery			10% straight line
	Computer Equipment			10% straight line

	Stocks
	Finished goods are stated at the lower of cost and net realisable value on a 'weighted average cost' basis. Cost comprises of purchase and delivery costs, net of rebates and discounts received or receivable. Net realisable value is the estimated selling price in the ordinary course of business. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Taxation
	The income tax expense or benefit for the period is the tax payable on that period's taxable income based on the applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities attributable to temporary differences, unused tax losses and the adjustment recognised for prior periods, where applicable. Deferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively enacted, except for: - When the deferred income tax asset or liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither the accounting nor taxable profits; or - When the taxable temporary difference is associated with interests in subsidiaries, associates or joint ventures, and the timing of the reversal can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2020		2019
Number							Number

	Average number of persons employed by the company					8		8


3	Tangible fixed assets
		Leasehold Improv's & F&F		Plant and machinery etc		Computer Equipment		Total
£			£		£		£
	Cost
	At 1 February 2019	164,439		7,279		46,754		218,472
	At 31 January 2020	164,439		7,279		46,754		218,472

	Depreciation
	At 1 February 2019	126,257		7,279		45,038		178,574
	Charge for the year	3,821		-		1,716		5,537
	At 31 January 2020	130,078		7,279		46,754		184,111

	Net book value
	At 31 January 2020	34,361		-		-		34,361
	At 31 January 2019	38,182		-		1,716		39,898


4	Creditors: amounts falling due within one year					2020		2019
£							£

	Amounts owed to group (owed by) undertakings and undertakings in which the company has a participating interest					(53,561)		114,167


5	Related party transactions

	The Company has taken advantage of the exemption from the requirement to disclose related party transactions with wholly owned group companies.


6	Controlling party

	The ultimate controlling party is Angling Direct Plc which is incorporated and registered in England and Wales with the United Kingdom. The results of the Company will be consolidated with Angling Direct Plc. A copy of these financial statements can be obtained from Companies House and www.anglingdirect.co.uk.


7	Other information

	H L & S Limited is a private company limited by shares and incorporated in England and Wales, within the United Kingdom. Its registered office is:
	2D Wendover Road
	Rackheath Industrial Estate
	Norwich
	Norfolk
	NR13 6LH

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