Company Registration No. 04077142 (England and Wales)
HALEY'S LIMITED
DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
HALEY'S LIMITED
COMPANY INFORMATION
Director
Mr S Haley
Secretary
Mr S Barnes
Company number
04077142
Registered office
Maple House
118 High Street
Purley
Surrey
United Kingdom
CR8 2AD
Accountants
Bryden Johnson
King's Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
Business address
Maple House
118 High Street
Purley
Surrey
United Kingdom
CR8 2AD
HALEY'S LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 10
HALEY'S LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2016
- 1 -
The director presents his report and financial statements for the year ended 30 June 2016.
Principal activities
The principal activity of the company continued to be that of quantity surveying and commercial management.quantity surveying and commercial management.
Director
The following director has held office since 1 July 2015:
Mr S Haley
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
By order of the board
Mr S Barnes
Secretary
15 November 2016
HALEY'S LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HALEY'S LIMITED FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Haley's Limited for the year ended 30 June 2016 set out on pages 3 to 10 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 in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Haley's Limited, as a body, in accordance with the terms of our engagement letter dated 25 August 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Haley's Limited and state those matters that we have agreed to state to the Board of Directors of Haley's Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Haley's Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Haley's 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 loss of Haley's Limited. You consider that Haley's 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 Haley's 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.
Bryden Johnson
2 December 2016
Chartered Accountants
King's Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
HALEY'S LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
2016
2015
Notes
£
£
Turnover
639,359
876,153
Cost of sales
(635,916)
(795,988)
Gross profit
3,443
80,165
Administrative expenses
(213,424)
(199,184)
Other operating income
186,000
140,000
Operating (loss)/profit
2
(23,981)
20,981
Other interest receivable and similar income
3
25
-
Interest payable and similar charges
(4,337)
(7,973)
(Loss)/profit on ordinary activities before taxation
(28,293)
13,008
Tax on (loss)/profit on ordinary activities
4
-
-
(Loss)/profit for the year
11
(28,293)
13,008
HALEY'S LIMITED
BALANCE SHEET
- 4 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
5
14,564
14,350
Investments
6
1
50,000
14,565
64,350
Current assets
Debtors
7
445,546
367,567
Cash at bank and in hand
11,826
29,565
457,372
397,132
Creditors: amounts falling due within one year
8
(365,535)
(326,787)
Net current assets
91,837
70,345
Total assets less current liabilities
106,402
134,695
Capital and reserves
Called up share capital
10
100,000
100,000
Profit and loss account
11
6,402
34,695
Shareholders' funds
106,402
134,695
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the Board for issue on 15 November 2016
Mr S Haley
Director
Company Registration No. 04077142
HALEY'S LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
- 5 -
1
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 January 2015).
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:
Leasehold Improvements
Over 5 years
Computer equipment
Over 3 years
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Operating (loss)/profit
2016
2015
£
£
Operating (loss)/profit is stated after charging:
Depreciation of tangible assets
3,712
2,292
3
Investment income
2016
2015
£
£
Other interest
25
-
4
Taxation
The company has estimated losses of £ 61,140 (2015 - £ 32,633) available for carry forward against future trading profits.
HALEY'S LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 6 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2015
24,684
1,537
26,221
Additions
3,926
-
3,926
At 30 June 2016
28,610
1,537
30,147
Depreciation
At 1 July 2015
10,653
1,218
11,871
Charge for the year
3,546
166
3,712
At 30 June 2016
14,199
1,384
15,583
Net book value
At 30 June 2016
14,411
153
14,564
At 30 June 2015
14,031
319
14,350
HALEY'S LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 7 -
6
Fixed asset investments
Shares in group undertakings and participating interests
£
Cost
At 1 July 2015
50,000
Disposals
(49,999)
At 30 June 2016
1
Net book value
At 30 June 2016
1
At 30 June 2015
50,000
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
RAP Consulting Engineers Limited
England
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
RAP Consulting Engineers Limited
Non-Trading
1
(292)
7
Debtors
2016
2015
£
£
Trade debtors
58,715
51,618
Other debtors
386,831
315,949
445,546
367,567
HALEY'S LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 8 -
8
Creditors: amounts falling due within one year
2016
2015
£
£
Trade creditors
35,844
33,319
Taxation and social security
33,620
23,954
Other creditors
296,071
269,514
365,535
326,787
9
Pension costs
Defined contribution
2016
2015
£
£
Contributions payable by the company for the year
6,445
13,692
10
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100,000 Ordinary shares of £1 each
100,000
100,000
11
Statement of movements on profit and loss account
Profit
and loss
account
£
Balance at 1 July 2015
34,695
Loss for the year
(28,293)
Balance at 30 June 2016
6,402
HALEY'S LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 9 -
12
Financial commitments
At 30 June 2016 the company was committed to making the following payments under operating leases in the year to 30 June 2017:
2016
2015
£
£
Operating leases which expire:
Within one year
10,572
-
Between two and five years
4,633
41,324
In over five years
65,000
65,000
80,205
106,324
13
Related party relationships and transactions
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Loan
-
90,359
74,641
-
165,000
90,359
74,641
-
-
165,000
HALEY'S LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
13
Related party relationships and transactions
(Continued)
- 10 -
Haley's Limited invoiced Haley's Holdings Limited, its parent, £nil (2015: £750) for commercial services and costs incurred on their behalf and paid £nil (2015: £154) to a shareholder for the repurchase of their shareholding. At the end of the year, the company owed Haley's Holdings Limited £85,504 (2015: £86,254) that arose from historic trading and working capital movements between the two companies.
At the year end Haley's Limited owed RAP Consulting Engineers Limited, its 100% subsidiary company £nil (2015: £50,291) that arose from historic trading and working capital movements between the two companies.
Haley's Limited invoiced HSC UK Limited a company in which Mr S Haley is also a director £2,535 (2015: £975) for management charges, insurance and software costs during the year. There was £5,042 (2015: £975) outstanding at the year end in relation to these charges.
Haley's Limited invoiced HCQS Limited, a company in which Mr S Haley is a director and shareholder, £126,527 (2015: £81,742) for commercial services and costs incurred on their behalf and £74,500 (2015: £85,000) in return for rental of premises during the year. HC QS Limited invoiced Haley's Limited £509,035 (2015: £580,892) for commercial services and £10,816 (2015: £39,717) in respect of management charges and IT support during the year. At the year end, the balance due to HCQS Limited was £158,247 (2015: £104,948).
Haley's Limited invoiced HC M&E Limited, a company in which Mr S Haley is a director and shareholder, £30,569 (2015: £33,775) for commercial services and costs incurred on their behalf. HC M&E Limited invoiced Haley's Limited £nil (2015: £1,254) for commercial services. At the year end, the balance due from HC M&E Limited was £95,880 (2015: £134,489).
During the year, the company advanced amounts totalling £74,641 (2015: £40,359) to the director Mr S Haley. At the year end Mr S Haley owed the company £165,000 (2015: £90,359).
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