Hawker Consumer Publications Limited Small abridged accounts

HAWKER CONSUMER PUBLICATIONS LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Hawker Consumer Publications Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 02086444

Hawker Consumer Publications Limited

Filleted Unaudited Abridged Financial Statements

30 June 2017

Hawker Consumer Publications Limited

Abridged Financial Statements

Year Ended 30 June 2017

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

Hawker Consumer Publications Limited

Abridged Statement of Financial Position

30 June 2017

	2017		2016
Note	£	£	£

Fixed Assets

Intangible assets	5	27,965	30,116
Tangible assets	6	5,294	6,369
		--------	--------
		33,259	36,485

Current Assets

Stocks	300	300
Debtors	166,561	190,663
Cash at bank and in hand	76,496	78,076
	---------	---------
	243,357	269,039

Creditors: amounts falling due within one year	95,067		102,140
	---------		---------
Net Current Assets		148,290	166,899
		---------	---------
Total Assets Less Current Liabilities		181,549	203,384

Provisions

Taxation including deferred tax	1,006	1,104
	---------	---------
Net Assets	180,543	202,280
	---------	---------

Capital and Reserves

Called up share capital	7	100	100
Profit and loss account		180,443	202,180
		---------	---------
Shareholders Funds		180,543	202,280
		---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 30 June 2017 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 abridged 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 abridged financial statements .

Hawker Consumer Publications Limited

Abridged Statement of Financial Position (continued)

30 June 2017

These abridged financial statements were approved by the board of directors and authorised for issue on 29 March 2018 , and are signed on behalf of the board by:

P H Petker

Director

Company registration number: 02086444

Hawker Consumer Publications Limited

Notes to the Abridged Financial Statements

Year Ended 30 June 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, Derbyshire S40 1LA. The company's place of business is Culvert House, Culvert Road, London SW11 5DH.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006 .

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover in the accounts represents amounts received for goods and services net of VAT and trade discounts. Advance ticket sales and event sponsorship revenue is credited to the profit and loss account as the events take place.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Black Beauty Publishing Rights	-	20 years straight line
Afro Hair & Beauty Rights	-	20 years straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	20% reducing balance
Fixtures & Fittings	-	10% reducing balance
Computer Equipment	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date .

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2016: 4 ).

5. Intangible assets

	£
Cost
At 1 July 2016 and 30 June 2017	43,022
	--------
Amortisation
At 1 July 2016	12,906
Charge for the year	2,151
	--------
At 30 June 2017	15,057
	--------
Carrying amount
At 30 June 2017	27,965
	--------
At 30 June 2016	30,116
	--------

6. Tangible assets

	£
Cost
At 1 July 2016	33,390
Additions	80
	--------
At 30 June 2017	33,470
	--------
Depreciation
At 1 July 2016	27,021
Charge for the year	1,155
	--------
At 30 June 2017	28,176
	--------
Carrying amount
At 30 June 2017	5,294
	--------
At 30 June 2016	6,369
	--------

7. Called up share capital

Issued, called up and fully paid

	2017		2016
	No.	£	No.	£
Ordinary shares of £ 0.01 each	10,000	100	10,000	100
	--------	----	--------	----

8. Related party transactions

Entities Under Common Control During the year the company provided and received short term loans from related parties. The balance outstanding due to related parties at the year end date is as follows :

	2017	2016
	£	£
Entities under common control	40,374	46,413

9. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.

No transitional adjustments were required in equity or profit or loss for the year.