The Hot Lot Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09264889 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2018

for

The Hot Lot Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

MS Munir

Mrs LGA Munir

REGISTERED OFFICE:

26 Bell Street

Sawbridgeworth

Hertfordshire

CM21 9AN

REGISTERED NUMBER:

09264889 (England and Wales)

ACCOUNTANTS:

Lawrence & Company

26 Bell Street

Sawbridgeworth

Hertfordshire

CM21 9AN

FIXED ASSETS

Tangible assets

4

35,113

37,820

CURRENT ASSETS

Debtors

5

269,862

300,350

CREDITORS

Amounts falling due within one year

6

174,166

220,423

NET CURRENT ASSETS

95,696

79,927

TOTAL ASSETS LESS CURRENT LIABILITIES

130,809

117,747

CREDITORS

Amounts falling due after more than one year

7

(152,000

)

-

PROVISIONS FOR LIABILITIES

8

(230,000

)

(380,000

)

NET LIABILITIES

(251,191

)

(262,253

)

CAPITAL AND RESERVES

Called up share capital

103

103

Retained earnings

9

(251,294

)

(262,356

)

SHAREHOLDERS' FUNDS

(251,191

)

(262,253

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 20 March 2019 and were signed on its behalf by:

MS Munir - Director

Mrs LGA Munir - Director

1.	STATUTORY INFORMATION

The Hot Lot Company 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

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

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a

past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a

reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be

required to settle the obligation taking into account the risks and uncertainties surrounding the obligation.

Pensions

For a defined benefit scheme, the liability recorded in the balance sheet is the present value of the

defined obligation at that date. The defined benefit obligation is calculated on an annual basis by

independent actuaries.

Actuarial gains and losses are recognised in full in the period in which they occur and are shown in

Other Comprehensive Income.

Current and past service costs, along with settlements or curtailments, are charged to the Income

Statement. Interest on pension plan liabilities are recognised within finance expense.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 November 2017

56,664

Additions

3,489

At 31 October 2018

60,153

DEPRECIATION

At 1 November 2017

18,844

Charge for year

6,196

At 31 October 2018

25,040

NET BOOK VALUE

At 31 October 2018

35,113

At 31 October 2017

37,820

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Amounts owed by associates

28,880

28,880

Other debtors

7,159

13,947

Directors' current accounts

233,823

257,523

269,862

300,350

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Bank loans and overdrafts

41,111

37,669

Other loans

-

26,850

Trade creditors

100,175

105,130

Tax

19,182

6,831

Social security and other taxes

11,528

42,886

Other creditors

144

37

Accrued expenses

2,026

1,020

174,166

220,423

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.18

31.10.17

£

£

Pension scheme liability

152,000

-

8.	PROVISIONS FOR LIABILITIES

31.10.18

31.10.17

£

£

Other provisions

Reward provision

230,000

380,000

Reward

Provision

£

Balance at 1 November 2017

380,000

Transfer to Pension liability

(150,000

)

Balance at 31 October 2018

230,000

The provision to reward and incentivise employees represents the directors' best estimates of the present value of

the cost to the company due to the obligation to reward employees for services provided in the financial period.

A formal decision regarding the reward amount and its form will be taken at some point after the reporting

period end.

9.

RESERVES

Retained

earnings

£

At 1 November 2017

(262,356

)

Profit for the year

47,300

Dividends

(38,238

)

Statement of other comprehensive income - actuarial gain

2,000

At 31 October 2018

(251,294

)

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2018 and

31 October 2017:

31.10.18

31.10.17

£

£

MS Munir and Mrs LGA Munir

Balance outstanding at start of year

257,523

149,959

Amounts advanced

163,371

(209,240

)

Amounts repaid

(187,071

)

316,804

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

233,823

257,523

At the balance sheet date the directors loan account was £233,823 overdrawn the company intends to repay this

within the nine month time limit.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 (2017 - £157,690) were paid to the directors .

Along with many companies of similar size and nature the company operates a directors loan account to facilitate

some of the companies financial transactions, the movements in the account are summarised above.

12.	POST BALANCE SHEET EVENTS

Since the year end, the company fulfilled its obligation to make rewards to assist in the intensification and

motivation of employees.

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2018 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Lawrence & Company

26 Bell Street

Sawbridgeworth

Hertfordshire

CM21 9AN

21 March 2019