Hawksworth Retail Asset Management Limited - Period Ending 2014-12-31

Registration number: SC390738

Hawksworth Retail Asset Management Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

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

Hawksworth Retail Asset Management Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hawksworth Retail Asset Management Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hawksworth Retail Asset Management Limited for the year ended 31 December 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. 2 to 4

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.org.uk/accountspreparationguidance.

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

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

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

10 September 2015

Page 1

Hawksworth Retail Asset Management Limited
(Registration number: SC390738)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					394			1,088
Current assets
Debtors					50,185			44,082
Cash at bank and in hand					230,441			120,382
					280,626			164,464
Creditors: Amounts falling due within one year					(50,698)			(23,093)
Net current assets					229,928			141,371
Total assets less current liabilities					230,322			142,459
Provisions for liabilities					(79)			(217)
Net assets					230,243			142,242
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					230,242			142,241
Shareholders' funds					230,243			142,242

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 10 September 2015 and signed on its behalf by:

.........................................
R T Stevenson
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Hawksworth Retail Asset Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts receivable for fees and services net of VAT provided during the period

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% straight line
Office equipment	33.33% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		3,576			3,576
At 31 December 2014		3,576			3,576
Depreciation
At 1 January 2014		2,488			2,488
Charge for the year		694			694
At 31 December 2014		3,182			3,182
Net book value
At 31 December 2014		394			394
At 31 December 2013		1,088			1,088

Page 3

Hawksworth Retail Asset Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
			0%

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

4

Control

The company is controlled by Hawksworth Retail Group Limited.Hawksworth Retail Group Limited is a company registered in Scotland. The ultimate controlling party is the directors.

Page 4