HAP (Holdings) Limited - Period Ending 2019-01-31

HAP (Holdings) Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 January 2019

Registration number: 10613021

HAP (Holdings) Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 5

HAP (Holdings) Limited

Balance Sheet

31 January 2019

	Note	2019 £	2018 £
Fixed assets
Investments	3	1,600,000	1,600,000
Current assets
Cash at bank and in hand		581,031	228,956
Creditors: Amounts falling due within one year	4	(69,316)	(29,000)
Net current assets		511,715	199,956
Net assets		2,111,715	1,799,956
Capital and reserves
Called up share capital	5	100	100
Share premium reserve		1,599,900	1,599,900
Profit and loss account		511,715	199,956
Total equity		2,111,715	1,799,956

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 1

HAP (Holdings) Limited

Balance Sheet

31 January 2019

For the financial year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 April 2019 and signed on its behalf by:
 

......................................... R G Crang Director

......................................... S J Crang Company secretary and director

Company Registration Number: 10613021

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

HAP (Holdings) Limited

Notes to the Financial Statements

Year Ended 31 January 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
TORQUAY
TQ2 7FF

The principal place of business is:
Unit 14
Nelson Road Industrial Estate
Dartmouth
TQ6 9LA

These financial statements were authorised for issue by the Board on 26 April 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional and presentation currency is pounds sterling.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Page 3

HAP (Holdings) Limited

Notes to the Financial Statements

Year Ended 31 January 2019

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3	Investments

	2019 £	2018 £
Investments in subsidiaries	1,600,000	1,600,000

Subsidiaries	£
Cost or valuation
Additions	1,600,000
Provision
Carrying amount
At 31 January 2019	1,600,000
At 31 January 2018	1,600,000

Page 4

HAP (Holdings) Limited

Notes to the Financial Statements

Year Ended 31 January 2019

4

Creditors

Creditors: amounts falling due within one year

	31 January 2019  £	31 January 2018  £
Due within one year
Other creditors	69,316	29,000

5	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

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