Haaco Ltd - Accounts to registrar - small 17.1.1

Haaco Ltd - Accounts to registrar - small 17.1.1


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REGISTERED NUMBER: SC329549(Scotland)















Financial Statements for the Year Ended 31 December 2016

for

Haaco Ltd

Haaco Ltd (Registered number: SC329549)






Contents of the Financial Statements
for the Year Ended 31 December 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Haaco Ltd

Company Information
for the Year Ended 31 December 2016







DIRECTOR: P Hazel





REGISTERED OFFICE: 7 Ythan Terrace
Ellon
ABERDEENSHIRE
AB41 9LJ





REGISTERED NUMBER: SC329549(Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
ABERDEENSHIRE
AB41 9LJ

Haaco Ltd (Registered number: SC329549)

Balance Sheet
31 December 2016

31.12.16 31.12.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 292,490 303,378

CURRENT ASSETS
Stocks - 2,733
Debtors 5 5,364 1,500
Cash at bank 1,616 2,555
6,980 6,788
CREDITORS
Amounts falling due within one year 6 439,668 436,935
NET CURRENT LIABILITIES (432,688 ) (430,147 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(140,198

)

(126,769

)

PROVISIONS FOR LIABILITIES - 3,191
NET LIABILITIES (140,198 ) (129,960 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (140,298 ) (130,060 )
SHAREHOLDERS' FUNDS (140,198 ) (129,960 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 19 May 2017and were signed by:



P Hazel- Director


Haaco Ltd (Registered number: SC329549)

Notes to the Financial Statements
for the Year Ended 31 December 2016

1. STATUTORY INFORMATION

Haaco Ltd is a private company, limited by shares, registered in Scotland. The company's registered number and
registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost and in accordance with the property
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1.

Haaco Ltd (Registered number: SC329549)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2016
and 31 December 2016 324,483 54,863 379,346
DEPRECIATION
At 1 January 2016 38,546 37,422 75,968
Charge for year 6,528 4,360 10,888
At 31 December 2016 45,074 41,782 86,856
NET BOOK VALUE
At 31 December 2016 279,409 13,081 292,490
At 31 December 2015 285,937 17,441 303,378

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Trade debtors 5,364 1,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Trade creditors 79 -
Taxation and social security 187 200
Other creditors 439,402 436,735
439,668 436,935

7. RELATED PARTY DISCLOSURES

During the year the director Mr Paul Hazel advanced the company net amounts totalling £438,428.
This amount remained outstanding at 31st December 2016 and is included within Other creditors in the notes to
the accounts.

8. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the director Mr Paul Hazel by virtue of his majority 70% holding
in the ordinary share capital of the company.