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 2013
 

Hawksworth Retail Asset Management Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Hawksworth Retail Asset Management Limited
(Registration number: SC390738)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets					1,088			1,876
Current assets
Debtors					44,082			31,797
Cash at bank and in hand					120,383			166,465
					164,465			198,262
Creditors: Amounts falling due within one year					(23,093)			(43,330)
Net current assets					141,372			154,932
Total assets less current liabilities					142,460			156,808
Provisions for liabilities					(218)			(375)
Net assets					142,242			156,433
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					142,241			156,432
Shareholders' funds					142,242			156,433

For the year ending 31 December 2013 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 9 September 2014 and signed on its behalf by:

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

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Hawksworth Retail Asset Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... 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.

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Hawksworth Retail Asset Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		3,237			3,237
Additions		341			341
At 31 December 2013		3,578			3,578
Depreciation
At 1 January 2013		1,361			1,361
Charge for the year		1,129			1,129
At 31 December 2013		2,490			2,490
Net book value
At 31 December 2013		1,088			1,088
At 31 December 2012		1,876			1,876

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

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings
		0%

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

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Hawksworth Retail Asset Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

4	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Michael Holt (Michael Holt is a director of the company) During the year Michael Holt operated a loan with the company. There are no repayment terms and no interest is payable. At the balance sheet date the amount due from/(to) Michael Holt was £5,992 (2012 - (£4,966)).

Robert Stevenson (Robert Stevenson is a director of the company) During the year Robert Stevenson operated a loan with the company. There are no repayment terms and no interest is payable. At the balance sheet date the amount due from/(to) Robert Stevenson was £2,196 (2012 - (£2,514)).

Hawksworth Retail Group Limited (Hawksworth Retail Group Limited own 100% of the share capital in Hawksworth Retail Asset Management Limited) During the period a dividend of £100,000 (2012 - £75,000) was declared and paid to Hawksworth Retail Group Limited. At the balance sheet date the amount due from Hawksworth Retail Group Limited was £40 (2012 - £40).

Mall Max GmbH (Michael Holt and Robert Stevenson are directors of both Hawksworth Retail Asset Management Limited and Mall Max GmbH) During the year Mall Max GmbH operated a loan with the company. There were no repayment terms and no interest is payable. At the balance sheet date the amount due from/(to) Mall Max GmbH was £7,246 (2012 - £nil).

5

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.

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