HAWKS CHEMICAL COMPANY LIMITED

HAWKS CHEMICAL COMPANY LIMITED

HAWKS CHEMICAL COMPANY LIMITED - Company Information

Print Friendly Version

HAWKS CHEMICAL COMPANY LIMITED

Company Registration Number:
02253887 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2020

Period of accounts

Start date: 01 April 2019

End date: 31 March 2020

HAWKS CHEMICAL COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2020

Balance sheet
Notes

HAWKS CHEMICAL COMPANY LIMITED

Balance sheet

As at 31 March 2020


Notes
2020
2019


£
£
Fixed assets
Intangible assets: 3 29,491 34,406
Tangible assets: 4 34,681 43,042
Investments: 5 1 1
Total fixed assets: 64,173 77,449
Current assets
Stocks: 274,134 250,573
Debtors:   314,442 551,145
Cash at bank and in hand: 1,571,420 1,181,314
Total current assets: 2,159,996 1,983,032
Creditors: amounts falling due within one year:   (468,548) (499,729)
Net current assets (liabilities): 1,691,448 1,483,303
Total assets less current liabilities: 1,755,621 1,560,752
Provision for liabilities: (8,680) (8,680)
Total net assets (liabilities): 1,746,941 1,552,072
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 1,745,941 1,551,072
Shareholders funds: 1,746,941 1,552,072

The notes form part of these financial statements

HAWKS CHEMICAL COMPANY LIMITED

Balance sheet statements

For the year ending 31 March 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 October 2020
and signed on behalf of the board by:

Name: Mr R. N. Warren
Status: Director

The notes form part of these financial statements

HAWKS CHEMICAL COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods suppliedand services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership havetransferred to the buyer (usually on despatch of the goods); the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurredor to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,over the useful economic life of that asset as follows:Plant and machinery - 20%% reducing balanceFittings fixtures and equipment - 10%% straight lineComputer equipment - 20%% straight lineIf there is an indication that there has been a significant change in depreciation rate, useful life orresidual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, overthe useful life of that asset as follows:Leasehold Improvements - 10 YearsIf there is an indication that there has been a significant change in amortisation rate, useful life orresidual value of an intangible asset, the amortisation is revised prospectively to reflect the newestimates.

HAWKS CHEMICAL COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

2. Employees

2020 2019
Average number of employees during the period 5 6

HAWKS CHEMICAL COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

3. Intangible Assets

Total
Cost £
At 01 April 2019 49,151
At 31 March 2020 49,151
Amortisation
At 01 April 2019 14,745
Charge for year 4,915
At 31 March 2020 19,660
Net book value
At 31 March 2020 29,491
At 31 March 2019 34,406

HAWKS CHEMICAL COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

4. Tangible Assets

Total
Cost £
At 01 April 2019 291,144
At 31 March 2020 291,144
Depreciation
At 01 April 2019 248,102
Charge for year 8,361
At 31 March 2020 256,463
Net book value
At 31 March 2020 34,681
At 31 March 2019 43,042

HAWKS CHEMICAL COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

5. Fixed investments

During the year, the company has a 100% stake in Hawks Scientific Limited.