H.I.S. Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC303425 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

FOR

H.I.S. ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A K Basra

Mrs H Kaur

Mr I Singh

SECRETARY:

Mrs H Kaur

REGISTERED OFFICE:

Riversleigh

9 Kilwinning Road

Irvine

Ayrshire

KA12 8RR

REGISTERED NUMBER:

SC303425 (Scotland)

ACCOUNTANTS:

Robert J Hart & Company

Chartered Accountants

Riversleigh

9 Kilwinning Road

Irvine

Ayrshire

KA12 8RR

FIXED ASSETS

Intangible assets

4

258

308

Tangible assets

5

32,100

34,790

32,358

35,098

CURRENT ASSETS

Stocks

17,000

11,000

Debtors

6

49,706

39,039

Cash at bank and in hand

213,324

210,204

280,030

260,243

CREDITORS

Amounts falling due within one year

7

62,393

67,791

NET CURRENT ASSETS

217,637

192,452

TOTAL ASSETS LESS CURRENT LIABILITIES

249,995

227,550

CREDITORS

Amounts falling due after more than one year

8

(42,765

)

(56,451

)

PROVISIONS FOR LIABILITIES

10

(5,773

)

(6,212

)

NET ASSETS

201,457

164,887

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

201,454

164,884

201,457

164,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 8 September 2022 and were signed on its behalf by:

Mr I Singh - Director

1.	STATUTORY INFORMATION

H.I.S. Enterprises 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

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 2007, is being amortised evenly over its estimated useful life of twenty 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.

Short leasehold

-

over 5 years

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Government grants

Grants of a revenue nature are credited to income to match with the expenditure to which they relate.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 17 (2020 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

1,000

AMORTISATION

At 1 July 2020

692

Charge for year

50

At 30 June 2021

742

NET BOOK VALUE

At 30 June 2021

258

At 30 June 2020

308

5.	TANGIBLE FIXED ASSETS

Plant and

Short

machinery

leasehold

etc

Totals

£

£

£

COST

At 1 July 2020

9,575

105,787

115,362

Additions

-

4,543

4,543

At 30 June 2021

9,575

110,330

119,905

DEPRECIATION

At 1 July 2020

9,575

70,997

80,572

Charge for year

-

7,233

7,233

At 30 June 2021

9,575

78,230

87,805

NET BOOK VALUE

At 30 June 2021

-

32,100

32,100

At 30 June 2020

-

34,790

34,790

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Other debtors

49,706

39,039

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Hire purchase contracts

3,686

3,686

Trade creditors

11,263

3,325

Taxation and social security

32,947

60,016

Other creditors

14,497

764

62,393

67,791

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Hire purchase contracts

2,765

6,451

Other creditors

40,000

50,000

42,765

56,451

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

-

10,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.21

30.6.20

£

£

Hire purchase contracts

6,451

10,137

Hire purchase creditors are secured over the specific assets financed.

10.	PROVISIONS FOR LIABILITIES

30.6.21

30.6.20

£

£

Deferred tax

5,773

6,212

Deferred

tax

£

Balance at 1 July 2020

6,212

Credit to Income Statement during year

(439

)

Balance at 30 June 2021

5,773

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the amount due from H.I.S Property Ltd, a company with common directors, was £48,117 (2020: £29,166). The loan is interest free and repayable on demand.