Hawk Lana Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05180471 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

HAWK LANA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mr A C Howland

Mrs S M Howland

SECRETARY:

Fryern Company Secretarial Services Limited

REGISTERED OFFICE:

1st Floor

Chilworth Point

1 Chilworth Road

Southampton

Hampshire

SO16 7JQ

REGISTERED NUMBER:

05180471 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

FIXED ASSETS

Tangible assets

4

4,807

5,067

CURRENT ASSETS

Debtors

5

1,974

5,673

Cash at bank

25,743

32,748

27,717

38,421

CREDITORS

Amounts falling due within one year

6

24,201

26,936

NET CURRENT ASSETS

3,516

11,485

TOTAL ASSETS LESS CURRENT LIABILITIES

8,323

16,552

PROVISIONS FOR LIABILITIES

581

520

NET ASSETS

7,742

16,032

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

6,742

15,032

SHAREHOLDERS' FUNDS

7,742

16,032

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 27 March 2018 and were signed on its behalf by:

Mr A C Howland - Director

1.	STATUTORY INFORMATION

Hawk Lana 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

Inherent in the application of many of the accounting policies used in preparing the financial statements is the

need for directors to make judgements, estimates and assumptions that affect the reported amount of assets

and liabilities at the date of the financial statement and the reporting amounts of revenues and expenses during

the year. Actual outcomes could differ from those estimates and assumptions used. The accounting judgements

and estimates that could have significant impact on the results of the company are set out below and should be

read in conjunction with the information provided in the Notes to the financial statements:

Critical Judgements

>

Management determine whether financial instruments are basic or advanced and when to deal with recognising, derecognising, measuring and disclosing financial instruments. These decisions depend on an assessment made of the accounting standards.

>

The management determine the point of recognition of revenue. Factors taken into consideration in reaching such a decision include an assessment of whether the risks and rewards of ownership have been transferred to the customer.

Significant Estimates

>

Where there are indications of impairment to trade debtors, management perform an impairment test. The amount of the loss is determined by looking at the carrying value of the trade debtor and comparing it with the present value of the estimated cash flows discounted at the effective interest rate.

>

To determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

REVENUE RECOGNITION

Turnover is the amount derived from the services for consultancy services, stated net of VAT and recognised

upon invoicing the customer.

TANGIBLE FIXED ASSETS

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

Office

-

Straight line over 5 years

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated

impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the

location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and if appropriate are adjusted

if there is an indication of a significant change since the last reporting date.

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 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company makes payments into a defined contribution pension scheme. Contributions payable to the

pension scheme are charged to the profit and loss account in the period to which they relate.

SHORT-TERM DEBTORS AND CREDITORS

Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price

whether or not a rate of interest is charged on the balance.

TRANSITION

In preparing the accounts, the directors have considered that in applying the accounting policies required by

Section 1A "Small Entities" of Financial Reporting Standard 102. The transition date was 1 August 2015. Details

of how FRS 102 Section 1A has affected the reported financial position and financial performance is given in the

prior year adjustment note.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

Office

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 August 2016

2,176

3,436

906

13,575

20,093

Additions

-

-

207

585

792

At 31 July 2017

2,176

3,436

1,113

14,160

20,885

DEPRECIATION

At 1 August 2016

435

2,835

536

11,220

15,026

Charge for year

435

90

87

440

1,052

At 31 July 2017

870

2,925

623

11,660

16,078

NET BOOK VALUE

At 31 July 2017

1,306

511

490

2,500

4,807

At 31 July 2016

1,741

601

370

2,355

5,067

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,498

5,280

Other debtors

-

36

Prepayments and accrued income

476

357

1,974

5,673

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

111

-

Tax

7,222

11,935

VAT

6,812

4,704

Director's current account

8,225

8,233

Accrued expenses

1,831

2,064

24,201

26,936

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the beginning of the year the Director was owed £8,233 by the company. During the year the Director

introduced capital of £165 and after withdrawing the sum of £173, an amount of £8,225 was owed by the

company at the balance sheet date. The loan is repayable on demand, no interest is being charged on the loan

and no security has been provided on this balance.

8.	PRIOR YEAR ADJUSTMENT

On transition to FRS 102 Section 1A, the directors have have applied a depreciation policy on the office tangible

fixed assets. This has resulted in profits for the year ended 31 July 2016 being overstated by £435.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Hawk Lana Limited for the year ended 31 July 2017 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hawk Lana Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hawk Lana Limited and state those matters that we have agreed to state to the Board of Directors of Hawk Lana Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hawk Lana Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hawk Lana Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hawk Lana Limited. You consider that Hawk Lana Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hawk Lana Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

Date: .............................................