Hadeel (UK) Limited - Accounts to registrar (filleted) - small 18.2
Hadeel (UK) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Hadeel (UK) Limited |
Unaudited Financial Statements |
for the Year Ended 31 December 2019 |
Hadeel (UK) Limited (Registered number: SC242507) |
Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Hadeel (UK) Limited |
Company Information |
for the Year Ended 31 December 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
158 Lanark Road West |
Currie |
Edinburgh |
EH14 5NY |
Hadeel (UK) Limited (Registered number: SC242507) |
Balance Sheet |
31 December 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
Hadeel (UK) Limited (Registered number: SC242507) |
Balance Sheet - continued |
31 December 2019 |
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 |
Hadeel (UK) Limited (Registered number: SC242507) |
Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
1. | STATUTORY INFORMATION |
Hadeel (UK) 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 |
Turnover |
Turnover represents net invoiced sales of craft and agricultural products, excluding value added tax, and is recognised at the point of sale. |
Tangible fixed assets |
All fixed assets are initially recorded at cost. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings - 20% on cost |
Computer equipment - 25% on cost |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
All loans with related parties are repayable on demand. |
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 not recognised in the financial statements, as the company gifts all taxable profits to its parent charity and, therefore, does not incur any liability to tax. |
Hadeel (UK) Limited (Registered number: SC242507) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
2. | ACCOUNTING POLICIES - continued |
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. |
Operating lease commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
Going concern |
The directors going concern assessment includes the expected impact of COVID-19 to the company for a period of at least 12 months from the date of signing of these financial statements. In order to remain a going concern, Hadeel (UK) Limited is dependent on the continued support of its parent company, Palcrafts (UK) Limited. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2019 |
and 31 December 2019 |
DEPRECIATION |
At 1 January 2019 |
Charge for year |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
Hadeel (UK) Limited (Registered number: SC242507) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |