Hunter Adams Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC400734 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 December 2017

for

Hunter Adams Limited

Page

Company Information

1

Report of the Director

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

D Hunter

REGISTERED OFFICE:

13 Rubislaw Terrace

Aberdeen

Aberdeenshire

AB10 1XE

REGISTERED NUMBER:

SC400734 (Scotland)

ACCOUNTANTS:

Eden Fyfe Accounts Limited

H5, Newark Business Park

Newark Road South

Glenrothes

Fife

KY7 4NS

The director presents his report with the financial statements of the company for the year ended 30 December 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of human resourcing

consultancy services and that of the interim placement of human resourcing staff.

DIRECTOR

D Hunter held office during the whole of the period from 31 December 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

D Hunter - Director

28 September 2018

FIXED ASSETS

Intangible assets

4

148,867

174,359

Tangible assets

5

43,825

42,971

192,692

217,330

CURRENT ASSETS

Stocks

26,745

15,225

Debtors

846,180

802,498

Cash at bank and in hand

84,847

72,431

957,772

890,154

CREDITORS

Amounts falling due within one year

409,994

447,642

NET CURRENT ASSETS

547,778

442,512

TOTAL ASSETS LESS CURRENT LIABILITIES

740,470

659,842

PROVISIONS FOR LIABILITIES

5,915

-

NET ASSETS

734,555

659,842

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

734,554

659,841

SHAREHOLDERS' FUNDS

734,555

659,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 September 2018 and were signed by:

D Hunter - Director

1.	STATUTORY INFORMATION

Hunter Adams Limited 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 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 two years.

Intangible assets

Development expenditure is capitalised when eligible costs are incurred. The resulting intangible asset is

amortised over three years or five years, depending on the nature of the project, once the commercial production

in respect of these costs has commenced.

Tangible fixed assets

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

Improvements to property

-

33% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost, 20% on cost and 10% on cost

Fixed assets are stated at cost, being purchase price less accumulated depreciation.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

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 45 (2016 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 31 December 2016

305,432

Additions

15,748

At 30 December 2017

321,180

AMORTISATION

At 31 December 2016

131,073

Amortisation for year

41,240

At 30 December 2017

172,313

NET BOOK VALUE

At 30 December 2017

148,867

At 30 December 2016

174,359

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 31 December 2016

173,458

Additions

11,264

At 30 December 2017

184,722

DEPRECIATION

At 31 December 2016

130,487

Charge for year

10,410

At 30 December 2017

140,897

NET BOOK VALUE

At 30 December 2017

43,825

At 30 December 2016

42,971

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.12.17

30.12.16

£

£

Within one year

27,800

-

Between one and five years

111,200

-

139,000

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.12.17

30.12.16

value:

£

£

100,000

Ordinary

0.00001

1

1

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 December 2017 and the

period ended 30 December 2016:

30.12.17

30.12.16

£

£

D Hunter

Balance outstanding at start of year

(45,041

)

(8,882

)

Amounts advanced

39,056

5,230

Amounts repaid

(502

)

(41,389

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(6,487

)

(45,041

)