Hawksworth Retail Group Limited - Period Ending 2019-12-31

Registration number: SC390736

Hawksworth Retail Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2019

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Hawksworth Retail Group Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 8

Hawksworth Retail Group Limited

Company Information

Directors

Mr M A Holt Mr R T Stevenson

Registered office

1 West Regent Street Glasgow G2 1RW

Accountants

Glen Drummond Ltd Chartered Accountants Argyll House Quarrywood Court Livingston West Lothian EH54 6AX

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hawksworth Retail Group Limited
for the Year Ended 31 December 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hawksworth Retail Group Limited for the year ended 31 December 2019 as set out on pages 3 to 8 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Hawksworth Retail Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hawksworth Retail Group Limited and state those matters that we have agreed to state to the Board of Directors of Hawksworth Retail Group Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hawksworth Retail Group Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hawksworth Retail Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hawksworth Retail Group Limited. You consider that Hawksworth Retail Group Limited 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 accounts of Hawksworth Retail Group Limited. 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 accounts.

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

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

17 June 2020

Page 2

Hawksworth Retail Group Limited

(Registration number: SC390736)
Balance Sheet as at 31 December 2019

	Note	2019 £	2018 £
Fixed assets
Investments	4	13,914	13,914
Current assets
Cash at bank and in hand		139	139
Creditors: Amounts falling due within one year	5	(13,953)	(13,953)
Net current liabilities		(13,814)	(13,814)
Net assets		100	100
Capital and reserves
Called up share capital		100	100
Total equity		100	100

For the financial year ending 31 December 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 Sections 386 and 387 of the Companies Act 2006 with respect to accounting records and the preparation of the 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 June 2020 and signed on its behalf by:
 

The notes on pages 5 to 8 form an integral part of these financial statements.

Page 3

Hawksworth Retail Group Limited

(Registration number: SC390736)
Balance Sheet as at 31 December 2019

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

Mr R T Stevenson
Director

The notes on pages 5 to 8 form an integral part of these financial statements.

Page 4

Hawksworth Retail Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
1 West Regent Street
Glasgow
G2 1RW

These financial statements were authorised for issue by the Board on 17 June 2020.

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 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. There were no material departures from that standard.

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 presentation currency of the financial statements is the Pound Sterling (£).

Tax

The tax expense for the period comprises tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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

Page 5

Hawksworth Retail Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

3	Staff numbers

The average number of persons employed by the company (including the directors) during the year was 2 (2018 - 2).

Page 6

Hawksworth Retail Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

4	Investments

	2019 £	2018 £
Investments in subsidiaries	13,914	13,914

Subsidiaries	£
Cost or valuation
At 1 January 2019	13,914
Provision
Carrying amount
At 31 December 2019	13,914
At 31 December 2018	13,914

5

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	13,941	13,941
Other creditors		12	12
		13,953	13,953

6	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary A shares of £0.10 each	700	70.00	700	70.00
Ordinary B shares of £0.10 each	300	30.00	300	30.00
	1,000	100	1,000	100

Page 7

Hawksworth Retail Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

7	Related party transactions

The company operates a loan account with the wholly owned subsidiary, Hawksworth Retail Asset Management Limited.

During the year, dividends totalling £125,200 (2018 - £181,200) were received from the subsidiary company. At the year end, the balance due to the subsidiary was £13,941 (2018 - £13,941). This loan is unsecured, interest free and has no fixed repayment terms.


The company operates a loan account with the director, Mr M A Holt.

During the year, there were no loans advanced or repaid to the director. At the year end, the balance due to the director was £6 (2018 - £6). This loan is unsecured, interest free and has no fixed repayment terms.


The company operates a loan account with the director, Mr R T Stevenson.

During the year, there were no loans advanced or repaid to the director. At the year end, the balance due to the director was £6 (2018 - £6). This loan is unsecured, interest free and has no fixed repayment terms.

 

Page 8