Hennigan Ltd Company accounts

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COMPANY REGISTRATION NUMBER: 05691130

HENNIGAN LTD

UNAUDITED FINANCIAL STATEMENTS

31 January 2018

HENNIGAN LTD

FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2018

CONTENTS	PAGE

Director's report	1

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	2

Income statement	3

Statement of financial position	4

Notes to the financial statements	6

HENNIGAN LTD

DIRECTOR'S REPORT

YEAR ENDED 31 JANUARY 2018

The director presents his report and the unaudited financial statements of the company for the year ended 31 January 2018 .

The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year. It is anticipated that the company will remain dormant for the foreseeable future.

DIRECTOR

The director who served the company during the year was as follows:

Mr T W Hennigan

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 29 October 2018 and signed on behalf of the board by:

Mr Thomas William Hennigan

Company Secretary

Registered office:

Onega House

112 Main Road

Sidcup

Kent

United Kingdom

DA14 6NE

HENNIGAN LTD

CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HENNIGAN LTD

YEAR ENDED 31 JANUARY 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hennigan Ltd for the year ended 31 January 2018, which comprise the income statement, statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Hennigan Ltd in accordance with the terms of our engagement letter dated 13 May 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Hennigan Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hennigan Ltd and its director for our work or for this report.

It is your duty to ensure that Hennigan Ltd 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 Hennigan Ltd. You consider that Hennigan Ltd 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 Hennigan Ltd. 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.

DYER & CO Chartered Accountants

Onega House 112 Main Road Sidcup Kent DA14 6NE

29 October 2018

HENNIGAN LTD

INCOME STATEMENT

YEAR ENDED 31 JANUARY 2018

	2018	2017
Note	£	£
TURNOVER	–	14,180

Cost of sales	–	2,457
	-----	----------
GROSS PROFIT	–	11,723

Administrative expenses	–	( 91,223)
	-----	------------
OPERATING PROFIT	–	102,946

Interest payable and similar expenses	–	9,387
	-----	------------
PROFIT BEFORE TAXATION	–	93,559

Tax on profit	–	1,853
	-----	----------
PROFIT FOR THE FINANCIAL YEAR	–	91,706
	-----	----------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

No significant accounting transactions as defined by section 1169 of the Companies Act 2006 occurred in the current year.

HENNIGAN LTD

STATEMENT OF FINANCIAL POSITION

31 January 2018

	2018		2017
Note	£	£	£

FIXED ASSETS

Tangible assets	4		217,510	217,510

CREDITORS: amounts falling due within one year	5	119,184		119,184
		------------		------------
NET CURRENT LIABILITIES			119,184	119,184
			------------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES			98,326	98,326
			----------	----------
NET ASSETS			98,326	98,326
			----------	----------

HENNIGAN LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2018

	2018		2017
Note	£	£	£

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	98,226	98,226
	----------	----------
SHAREHOLDERS FUNDS	98,326	98,326
	----------	----------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 January 2018 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 29 October 2018 , and are signed on behalf of the board by:

Mr T W Hennigan
Director

Company registration number: 05691130

HENNIGAN LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2018

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income statement

The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. TANGIBLE ASSETS

	Land and buildings
	£
Cost
At 1 February 2017 and 31 January 2018	217,510
	------------
Depreciation
At 1 February 2017 and 31 January 2018	–
	------------
Carrying amount
At 31 January 2018	217,510
	------------
At 31 January 2017	217,510
	------------

5. CREDITORS: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	36,660	36,660
Corporation tax	6,281	6,281
Other creditors	76,243	76,243
	------------	------------
	119,184	119,184
	------------	------------

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director did not enter into any advances, credits or guarantees with the company.