Hanmark Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08789136 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

HANMARK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

Mr C N H Seymour

Registered office:

268 Drummond Road

Skegness

Lincolnshire

PE25 3AT

Registered number:

08789136 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

23 Algitha Road

Skegness

United Kingdom

PE25 2AG

Fixed assets

Tangible assets

4

305

679

Investments

5

74,876

94,500

Investment property

6

229,000

229,000

304,181

324,179

Current assets

Debtors

7

-

9,910

Cash at bank

39,384

3,126

39,384

13,036

Creditors

Amounts falling due within one year

8

18,548

26,377

Net current assets/(liabilities)

20,836

(13,341

)

Total assets less current liabilities

325,017

310,838

Creditors

Amounts falling due after more than one year

9

(158,500

)

(147,500

)

Provisions for liabilities

(71

)

(129

)

Net assets

166,446

163,209

Capital and reserves

Called up share capital

11

1,000

1,000

Retained earnings

12

165,446

162,209

Shareholders' funds

166,446

163,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 22 December 2021 and were signed by:

Mr C N H Seymour - Director

1.	Statutory information

Hanmark 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Fixed asset investments

The unlisted investments are measured at fair value, which is the current market value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	Employees and directors

The average number of employees during the year was 1 (2020 - 1 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 April 2020

1,359

Additions

458

At 31 March 2021

1,817

Depreciation

At 1 April 2020

680

Charge for year

832

At 31 March 2021

1,512

Net book value

At 31 March 2021

305

At 31 March 2020

679

5.	Fixed asset investments

Other

investments

£

Cost or valuation

At 1 April 2020

94,500

Additions

23,279

Disposals

(13,065

)

Revaluations

(29,838

)

At 31 March 2021

74,876

Net book value

At 31 March 2021

74,876

At 31 March 2020

94,500

Cost or valuation at 31 March 2021 is represented by:

Other

investments

£

Valuation in 2019

3,174

Valuation in 2020

(59,537

)

Valuation in 2021

(29,838

)

Cost

161,077

74,876

6.	Investment property

Total

£

Fair value

At 1 April 2020

and 31 March 2021

229,000

Net book value

At 31 March 2021

229,000

At 31 March 2020

229,000

The Investment property at 52-54 High Street Skegness Lincolnshire was acquired on the 29 March 2018 at current market value. Mrs C Seymour has a legal charge of £147,500 on the property.

7.

Debtors: amounts falling due within one year

2021

2020

£

£

Trade debtors

-

6,450

Disbursement debtors

-

2,601

VAT

-

859

-

9,910

8.

Creditors: amounts falling due within one year

2021

2020

£

£

Trade creditors

980

1,649

Corporation tax

7,781

1,200

Social security and other taxes

-

(314

)

VAT

1,101

-

Receipt in advance

-

5,563

Directors' current accounts

8,686

18,279

18,548

26,377

9.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Government bounce back loan

11,000

-

Loan Mrs C Seymour

147,500

147,500

158,500

147,500

10.	Secured debts

Mrs C Seymour has a legal charge of £147,500 on the property at 52-54 High Street, Skegness, Lincolnshire PE25 3NW

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.

Reserves

Retained

earnings

£

At 1 April 2020

162,209

Profit for the year

3,237

At 31 March 2021

165,446

Reserves have been decreased by a reduction in the Fair Value Reserve on the market value of fixed asset investments amounting to £(29,838) (2020 a decrease of £11,349).

13.	Related party disclosures

Mr C N H Seymour

Director

During the year the director was paid a dividend of £Nil. (2020 £4,000)

During the year the company invoiced Claimant Costs Recovery (Northern) Limited a company of which he is a shareholder and director, on an arms length arrangement, for an amount of £21,000 (2020 - £26,000).

2021

2020

£

£

Amount due to related party at the balance sheet date

8,686

18,279

14.	Ultimate controlling party

The controlling party is Mr C N H Seymour.