ACCOUNTS - Final Accounts

HENSON CRISP (EAST ANGLIA) LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-07-312017-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetruefalse2016-08-01 07010872 2016-08-01 2017-07-31 07010872 2015-08-01 2016-07-31 07010872 2017-07-31 07010872 2016-07-31 07010872 c:Director1 2016-08-01 2017-07-31 07010872 d:FurnitureFittings 2016-08-01 2017-07-31 07010872 d:ComputerEquipment 2016-08-01 2017-07-31 07010872 d:OtherPropertyPlantEquipment 2017-07-31 07010872 d:OtherPropertyPlantEquipment 2016-07-31 07010872 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2016-08-01 2017-07-31 07010872 d:CurrentFinancialInstruments 2017-07-31 07010872 d:CurrentFinancialInstruments 2016-07-31 07010872 d:CurrentFinancialInstruments d:WithinOneYear 2017-07-31 07010872 d:CurrentFinancialInstruments d:WithinOneYear 2016-07-31 07010872 d:ShareCapital 2017-07-31 07010872 d:ShareCapital 2016-07-31 07010872 d:RetainedEarningsAccumulatedLosses 2017-07-31 07010872 d:RetainedEarningsAccumulatedLosses 2016-07-31 07010872 d:AcceleratedTaxDepreciationDeferredTax 2017-07-31 07010872 d:AcceleratedTaxDepreciationDeferredTax 2016-07-31 07010872 c:OrdinaryShareClass1 2016-08-01 2017-07-31 07010872 c:OrdinaryShareClass1 2017-07-31 07010872 c:OrdinaryShareClass2 2016-08-01 2017-07-31 07010872 c:OrdinaryShareClass2 2017-07-31 07010872 c:FRS102 2016-08-01 2017-07-31 07010872 c:AuditExempt-NoAccountantsReport 2016-08-01 2017-07-31 07010872 c:FullAccounts 2016-08-01 2017-07-31 07010872 c:PrivateLimitedCompanyLtd 2016-08-01 2017-07-31 07010872 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2016-08-01 2017-07-31 07010872 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2017-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07010872

HENSON CRISP (EAST ANGLIA) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2017

HENSON CRISP (EAST ANGLIA) LIMITED

REGISTERED NUMBER: 07010872

BALANCE SHEET

AS AT 31 JULY 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	4		50		67
Current assets
Debtors: amounts falling due within one year		9,250		-
Cash at bank	6	5,517		16,740
		14,767		16,740
Creditors: amounts falling due within one year	7	(14,460)		(16,487)
Net current assets			307		253
Total assets less current liabilities			357		320
Provisions for liabilities
Deferred tax	8	(11)		(14)
			(11)		(14)
Net assets			346		306

Capital and reserves
Called up share capital	9	200	200
Profit and loss account		146	106
		346	306

Page 1

HENSON CRISP (EAST ANGLIA) LIMITED

REGISTERED NUMBER: 07010872

BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2017

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mr J Crisp

Director

Date: 26 April 2018

The notes on pages 3 to 8 form part of these financial statements.

Page 2

HENSON CRISP (EAST ANGLIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

1.	General information

Henson Crisp (East Anglia) Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is The Eco Innovation Centre Peters Court, City Road, Peterborough, PE1 1SA. This Company is not part of a group.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

These financial statements for the year ended 31 July 2017 are the first financial statements prepared in accordance with FRS 102 Section 1A. The date of transition to FRS 102 Section 1A was 01 August 2015.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised by the Company in respect of specialist financial advice and wealth management during the year, to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

HENSON CRISP (EAST ANGLIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

2.Accounting policies (continued)

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	25%	reducing balance
				Computer equipment	-	25%	straight line

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

2.7

Creditors

Short term creditors are measured at the transaction price.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

Page 4

HENSON CRISP (EAST ANGLIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

2.Accounting policies (continued)

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

HENSON CRISP (EAST ANGLIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

Employees

The average monthly number of employees, including the director, during the year was 2 (2016 - 2).

4.	Tangible fixed assets

		Other fixed assets
		£
	Cost
	At 1 August 2016	1,460
	At 31 July 2017	1,460
	Depreciation
	At 1 August 2016	1,393
	Charge for the year on owned assets	17
	At 31 July 2017	1,410
	Net book value
	At 31 July 2017	50
	At 31 July 2016	67

Debtors

					2017	2016
					£	£


Other debtors	8,250	-
Prepayments and accrued income	1,000	-
	9,250	-

6.	Cash and cash equivalents
		2017	2016
		£	£

	Cash at bank	5,517	16,740

Page 6

HENSON CRISP (EAST ANGLIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

7.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Corporation tax	13,477	13,787
Other taxation and social security	33	276
Other creditors	-	1,500
Accruals and deferred income	950	924
	14,460	16,487

8.	Deferred taxation

		2017
		£

	At beginning of year	(14)
	Charged to profit or loss	3
	At end of year	(11)

The provision for deferred taxation is made up as follows:
	2017	2016
	£	£

	Accelerated capital allowances	(11)	(14)
		(11)	(14)

9.	Share capital
		2017	2016
		£	£

Allotted, called up and fully paid

100 Ordinary 'A' shares of £1 each	100	100
100 Ordinary 'B' shares of £1 each	100	100

	200	200

Page 7

HENSON CRISP (EAST ANGLIA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

10.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £861 (2016 - £861). No contributions (2016 - £Nil) were payable to the fund at the balance sheet date.

11.	Transactions with shareholders

At 1 August 2016 the shareholders were owed £1,500 by the Company. During the year they made repayments of £63,000. They also withdrew amounts totalling £68,750 and the Company paid expenses on their behalf of £4,000. At 31 July 2017 £8,250 was owed to the Company. This loan is interest free and was repaid within 9 months of the year end.

12.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 8