HKN Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08863172 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

HKN Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M F Harkin

Mrs I M Harkin

REGISTERED OFFICE:

3B Lockheed Court

Preston Farm

Stockton on Tees

TS18 3SH

REGISTERED NUMBER:

08863172 (England and Wales)

ACCOUNTANTS:

JBC Accountants Limited

Chartered Accountants

3B Lockheed Court

Preston Farm

Stockton on Tees

TS18 3SH

FIXED ASSETS

Tangible assets

4

10,025

2,318

CURRENT ASSETS

Stocks

43,273

34,111

Debtors

5

130,539

84,016

Cash at bank

101,035

32,627

274,847

150,754

CREDITORS

Amounts falling due within one year

6

149,318

150,765

NET CURRENT ASSETS/(LIABILITIES)

125,529

(11

)

TOTAL ASSETS LESS CURRENT LIABILITIES

135,554

2,307

CREDITORS

Amounts falling due after more than one year

7

(50,000

)

-

PROVISIONS FOR LIABILITIES

(1,905

)

-

NET ASSETS

83,649

2,307

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

83,549

2,207

SHAREHOLDERS' FUNDS

83,649

2,307

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2021 and were signed on its behalf by:

Mr M F Harkin - Director

1.	STATUTORY INFORMATION

HKN Management 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance and 20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Current and deferred 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

3,864

Additions

9,139

At 31 March 2021

13,003

DEPRECIATION

At 1 April 2020

1,546

Charge for year

1,432

At 31 March 2021

2,978

NET BOOK VALUE

At 31 March 2021

10,025

At 31 March 2020

2,318

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

74,474

40,370

Other debtors

56,065

43,646

130,539

84,016

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

-

1

Trade creditors

11,182

13,851

Taxation and social security

92,699

75,509

Other creditors

45,437

61,404

149,318

150,765

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

50,000

-