Hamlet Networks Ltd - Accounts to registrar - small 16.3d

REGISTERED NUMBER: SC375041 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2016

for

Hamlet Networks Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A M Letham

W J S Letham

REGISTERED OFFICE:

Suite 181

98 Woodlands Road

Charing Cross

Glasgow

G3 6HB

REGISTERED NUMBER:

SC375041 (Scotland)

ACCOUNTANTS:

Peter Deans Chartered Accountants

42 Stirling Street

Denny

Stirlingshire

FK6 6DJ

BANKERS:

HSBC

2 Buchanan Street

Glasgow

G1 3LB

FIXED ASSETS

Tangible assets

4

33,574

44,767

CURRENT ASSETS

Stocks

32,774

64,829

Debtors

5

234,396

212,551

Cash at bank and in hand

11,666

61,763

278,836

339,143

CREDITORS

Amounts falling due within one year

6

198,838

250,405

NET CURRENT ASSETS

79,998

88,738

TOTAL ASSETS LESS CURRENT LIABILITIES

113,572

133,505

CREDITORS

Amounts falling due after more than one year

7

(4,153

)

(11,186

)

PROVISIONS FOR LIABILITIES

(6,669

)

(8,897

)

NET ASSETS

102,750

113,422

CAPITAL AND RESERVES

Called up share capital

5

5

Retained earnings

102,745

113,417

SHAREHOLDERS' FUNDS

102,750

113,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 December 2016 and were signed on its behalf by:

A M Letham - Director

1.	STATUTORY INFORMATION

Hamlet Networks Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay

more, less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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

lease.

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 8 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2015

and 31 March 2016

70,754

DEPRECIATION

At 1 April 2015

25,987

Charge for year

11,193

At 31 March 2016

37,180

NET BOOK VALUE

At 31 March 2016

33,574

At 31 March 2015

44,767

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2015

and 31 March 2016

52,708

DEPRECIATION

At 1 April 2015

18,180

Charge for year

8,632

At 31 March 2016

26,812

NET BOOK VALUE

At 31 March 2016

25,896

At 31 March 2015

34,528

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

£

Trade debtors

228,009

209,972

Other debtors

6,387

2,579

234,396

212,551

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

£

Hire purchase contracts

9,800

18,307

Trade creditors

138,858

150,110

Taxation and social security

39,692

68,924

Other creditors

10,488

13,064

198,838

250,405

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.16

31.3.15

£

£

Hire purchase contracts

4,153

11,186

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £99,900 were paid to the directors .

Dividends paid during the year to directors were as follows:

T G Letham £23,500 (2015 - £33,300)

A M Letham £38,200 (2015 - £33,300)

W J S Letham £38,200 (2015 - £33,300)

9.	ULTIMATE CONTROLLING PARTY

The directors are the only shareholders and in their opinion the ultimate controlling party.