Heslops Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08031274 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

HESLOPS ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J P R Prevost FCA

SECRETARY:

White House Secretaries Limited

REGISTERED OFFICE:

1 High Street

Thatcham

Berks

RG19 3JG

REGISTERED NUMBER:

08031274 (England and Wales)

FIXED ASSETS

Intangible assets

4

127,500

130,000

Investments

5

37,300

37,300

164,800

167,300

CURRENT ASSETS

Debtors

6

1,335

15,058

Cash at bank

765

-

2,100

15,058

CREDITORS

Amounts falling due within one year

7

11,747

25,988

NET CURRENT LIABILITIES

(9,647

)

(10,930

)

TOTAL ASSETS LESS CURRENT LIABILITIES

155,153

156,370

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

155,151

156,368

SHAREHOLDERS' FUNDS

155,153

156,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 11 January 2021 and were signed by:

J P R Prevost FCA - Director

1.	STATUTORY INFORMATION

Heslops Associates 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten 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.

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.

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 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2019

and 31 May 2020

200,000

AMORTISATION

At 1 June 2019

70,000

Charge for year

2,500

At 31 May 2020

72,500

NET BOOK VALUE

At 31 May 2020

127,500

At 31 May 2019

130,000

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2019

and 31 May 2020

37,300

NET BOOK VALUE

At 31 May 2020

37,300

At 31 May 2019

37,300

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Other debtors

1,335

15,058

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans and overdrafts

-

20,176

Taxation and social security

-

599

Other creditors

11,747

5,213

11,747

25,988

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2020 and 31 May 2019:

31.5.20

31.5.19

£

£

J P R Prevost FCA

Balance outstanding at start of year

15,078

-

Amounts advanced

-

15,078

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

15,078

J P R Prevost repaid the company in full 31st July 2019.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C B Heslop and Company Ltd.

On 19th July 2019 the entire share capital of the company was transferred to C B Heslop & Company Limited in exchange for shares in that company. Mr J P R Prevost FCA is a director of both companies.