Haltec_Limited_31_Mar_2021_companies_house_set_of_accounts.html
Haltec_Limited_31_Mar_2021_companies_house_set_of_accounts.html
Company registration number:
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Haltec Limited
Year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Haltec Limited for the year ended 31 March 2021 which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Haltec Limited , as a body, in accordance with the terms of my engagement letter dated 1 November 2017. My work has been undertaken solely to prepare for your approval the financial statements of Haltec Limited and state those matters that I have agreed to state to the Board of Directors of Haltec Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Haltec Limited and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that Haltec Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Haltec Limited . You consider that Haltec Limited is exempt from the statutory audit requirement for the year.
Chartered Accountants and Business Advisors
25/27 Station StreetCheslyn HayWalsallWest MidlandsWS6 7EDUnited Kingdom
Date:
3 November 2021
Statement of Financial Position
| 2021 | 2020 | ||||
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| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 5 |
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| Current assets | |||||
| Stocks |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year | 7 |
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| Net current assets |
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| Total assets less current liabilities | 408,362 | 201,450 | |||
| Creditors: amounts falling due after more than one year | 8 |
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| Net assets |
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| Capital and reserves | |||||
| Called up share capital |
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| Profit and loss account |
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| Shareholders funds |
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For the year ending 31 March 2021 , the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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.
These financial statements were approved by the board of directors and authorised for issue on 3 November 2021 , and are signed on behalf of the board by:
| Director |
Company registration number:
06858316
Notes to the Financial Statements
Year ended 31 March 2021
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Units 2-4 Miras Business Estate , Keys Park Road , Cannock , Staffordshire , WS12 2FS , United Kingdom.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
3 Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the company.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Turnover
Current tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Plant and machinery | |
| Motor vehicles | |
| Office equipment | |
| Fixtures and fittings |
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Financial instruments
Defined contribution pension plan
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4 Average number of employees
The average number of persons employed by the company during the year was 20 (2020: 23 ).
5 Tangible assets
| Plant and machinery etc. | ||
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| Disposals |
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| Depreciation | ||
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| Disposals |
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| Carrying amount | ||
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| At 31 March 2020 |
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6 Debtors
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trade debtors |
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| Other debtors |
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7 Creditors: amounts falling due within one year
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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8 Creditors: amounts falling due after more than one year
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Bank loans and overdrafts |
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- | ||