Heslops Associates Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 08031274 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Heslops Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J P R Prevost FCA

SECRETARY:

White House Secretaries Limited

REGISTERED OFFICE:

111 Milford Road

Lymington

Hampshire

SO41 8DN

REGISTERED NUMBER:

08031274 (England and Wales)

ACCOUNTANTS:

Heslops Associates Limited

111 Milford Road

Lymington

Hampshire

SO41 8DN

FIXED ASSETS

Intangible assets

4

150,000

160,000

Tangible assets

5

1,841

2,318

Investments

6

10,050

-

161,891

162,318

CURRENT ASSETS

Debtors

7

47,766

57,993

Cash at bank

-

2,970

47,766

60,963

CREDITORS

Amounts falling due within one year

8

42,301

64,742

NET CURRENT ASSETS/(LIABILITIES)

5,465

(3,779

)

TOTAL ASSETS LESS CURRENT LIABILITIES

167,356

158,539

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

167,355

158,538

SHAREHOLDERS' FUNDS

167,356

158,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 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 director on 22 November 2017 and were signed by:

J P R Prevost FCA - Director

1.	STATUTORY INFORMATION

Heslops Associates 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 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 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 2012, is being amortised evenly over its estimated useful life of ten 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.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

200,000

AMORTISATION

At 1 June 2016

40,000

Charge for year

10,000

At 31 May 2017

50,000

NET BOOK VALUE

At 31 May 2017

150,000

At 31 May 2016

160,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

5,491

Additions

373

Disposals

(1,695

)

At 31 May 2017

4,169

DEPRECIATION

At 1 June 2016

3,173

Charge for year

850

Eliminated on disposal

(1,695

)

At 31 May 2017

2,328

NET BOOK VALUE

At 31 May 2017

1,841

At 31 May 2016

2,318

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

10,050

At 31 May 2017

10,050

NET BOOK VALUE

At 31 May 2017

10,050

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

47,766

57,993

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

16,231

-

Trade creditors

4,201

5,082

Taxation and social security

20,399

53,699

Other creditors

1,470

5,961

42,301

64,742