HOOKSON_LIMITED - Accounts

HOOKSON LIMITED - Company Information

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Company Registration No. SC217681 (Scotland)

HOOKSON LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2015

HOOKSON LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HOOKSON LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

24,096

24,573

Current assets

Debtors

74,088

116,560

Cash at bank and in hand

152,471

87,946

226,559

204,506

Creditors: amounts falling due within one year

(54,151)

(45,682)

Net current assets

172,408

158,824

Total assets less current liabilities

196,504

183,397

Capital and reserves

Called up share capital

11,815

11,596

Share premium account

37,310

34,244

Profit and loss account

147,379

137,557

Shareholders' funds

196,504

183,397

For the financial year ended 30 April 2015 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 financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 6 November 2015

B C Hook

Director

Company Registration No. SC217681

HOOKSON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

10% reducing balance

1.5

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in other debtors.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

HOOKSON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 May 2014

67,615

Additions

2,201

At 30 April 2015

69,816

Depreciation

At 1 May 2014

43,043

Charge for the year

2,677

At 30 April 2015

45,720

Net book value

At 30 April 2015

24,096

At 30 April 2014

24,573

Share capital

2015

2014

Allotted, called up and fully paid

11,815 Ordinary shares of £1 each

11,815

11,596

On 6 March 2015, 219 £1 ordinary shares were issued and fully paid at £15 per share.

Related party relationships and transactions

Loans to directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

B C Hook

29,199