Hallbay Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04568263 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

HALLBAY LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A Pirer

SECRETARY:

G Lubelsky

REGISTERED OFFICE:

115 Craven Park Road

London

N15 6BL

REGISTERED NUMBER:

04568263 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Intangible assets

4

22,500

25,000

Tangible assets

5

31,822

37,458

54,322

62,458

CURRENT ASSETS

Stocks

1,100

1,148

Debtors

6

167,294

140,271

Cash at bank and in hand

7,314

5,568

175,708

146,987

CREDITORS

Amounts falling due within one year

7

140,754

120,875

NET CURRENT ASSETS

34,954

26,112

TOTAL ASSETS LESS CURRENT LIABILITIES

89,276

88,570

CREDITORS

Amounts falling due after more than one year

8

6,631

16,563

NET ASSETS

82,645

72,007

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

82,643

72,005

SHAREHOLDERS' FUNDS

82,645

72,007

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 13 February 2018 and were signed by:

A Pirer - Director

1.	STATUTORY INFORMATION

Hallbay Ltd 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.

Transition to financial reporting standards 102

The company has adopted FRS 102 Section 1A for the first time in the preparation of these accounts.

Accordingly the date of transition to FRS 102 was 1 January 2015 (beginning of the accounting period of

comparative financial year).

There are no material differences in determining the company's profit and loss under FRS 102 Section 1A and

the previous framework the company adopted (the Financial Reporting Standard for Smaller Entities (effective

January 2015)).

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 2006, is being amortised evenly over its estimated useful life of twenty 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

50,000

AMORTISATION

At 1 January 2016

25,000

Charge for year

2,500

At 31 December 2016

27,500

NET BOOK VALUE

At 31 December 2016

22,500

At 31 December 2015

25,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2016

and 31 December 2016

65,609

11,565

4,723

81,897

DEPRECIATION

At 1 January 2016

30,132

9,680

4,627

44,439

Charge for year

5,321

283

32

5,636

At 31 December 2016

35,453

9,963

4,659

50,075

NET BOOK VALUE

At 31 December 2016

30,156

1,602

64

31,822

At 31 December 2015

35,477

1,885

96

37,458

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

162,294

135,271

Other debtors

5,000

5,000

167,294

140,271

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

54,795

55,385

Taxation and social security

44,810

24,841

Other creditors

41,149

40,649

140,754

120,875

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

6,631

16,563

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

1

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 January 2016

72,005

Profit for the year

60,638

Dividends

(50,000

)

At 31 December 2016

82,643