Halliday Clark Limited - Accounts to registrar (filleted) - small 18.2
Halliday Clark Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended |
| 30 April 2018 |
| for |
| Halliday Clark Limited |
| Halliday Clark Limited (Registered number: 02806566) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2018 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Halliday Clark Limited (Registered number: 02806566) |
| Balance Sheet |
| 30 April 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Halliday Clark Limited (Registered number: 02806566) |
| Balance Sheet - continued |
| 30 April 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| Halliday Clark Limited (Registered number: 02806566) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2018 |
| 1. | STATUTORY INFORMATION |
| Halliday Clark Limited is a |
| company's registered number and registered office address are as below: |
| Registered number: | 02806566 |
| Registered office: | The Point |
| No 1 Lower Railway Road |
| Ilkley |
| West Yorkshire |
| LS29 8FL |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 |
| "The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act |
| 2006 as applicable to companies subject to the small companies regime. The disclosure requirements |
| of section 1A of FRS102 have been applied other than where additional disclosure is required to give a |
| true and fair view. |
| 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 |
| and value added tax. |
| Turnover from the supply of services represents the value of services provided under contracts to the |
| extent that there is a right to consideration and is recorded at the fair value of the consideration |
| received or receivable. Where a contract has only been partially completed at the balance sheet date |
| turnover represents the fair value of the service provided to date based on the stage of completion and |
| the contract activity at the balance sheet date. Where payments are received from customers in |
| advance of services provided, the amounts are recorded as deferred income and included as part of |
| creditors due within one year. |
| Tangible fixed assets |
| Tangible fixed assets are stated at purchase cost, net of depreciation. |
| Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated |
| residual value of each asset over its estimated useful life as follows: |
| Fixtures and fittings | 25% reducing balance |
| Computer equipment | 25% reducing balance |
| Residual value represents the estimated amount which would currently be obtained from disposal of an |
| asset after deducting estimated costs of disposal, if the asset were already at an age and in the |
| condition expected at the end of its estimated useful life. |
| The gain or loss arising on the disposal of an asset is determined on the difference between the sale |
| proceeds and the carrying value of the asset, and is recognised in the profit and loss account. |
| Halliday Clark Limited (Registered number: 02806566) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial assets and financial liabilities are recognised when the company becomes a party to the |
| contractual provisions of the instrument. |
| 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 company after deducting all of its liabilities. |
| All financial assets and liabilities are initially measured at transaction price (including transaction |
| costs), except for those financial assets classified as at fair value through profit and loss, which are |
| initially measured at fair value (which is normally the transaction price excluding transaction costs), |
| unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing |
| transaction, the financial asset or financial liability is measured at the present value of the future |
| payments discounted at a market rate of interest for a similar debt instrument. |
| The following assets and liabilities are classified as basic financial instruments - trade debtors, other |
| debtors, cash and bank balances, trade creditors, other creditors and bank loans. |
| Trade debtors, other debtors, cash and bank balances, trade creditors and other creditors (being |
| repayable on demand) are measured at the amortised cost equivalent to the undiscounted amount of |
| cash or other consideration expected to be paid or received. |
| Bank loans are initially measured at the present value of future payments, discounted at a market rate |
| of interest and subsequently measured at amortised cost using the effective interest method. |
| Taxation |
| Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) |
| using the tax rates and laws 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 where transactions or events that result in an obligation to pay more tax in the |
| future or a right to pay less tax in the future have occurred at the balance sheet date. Timing |
| differences are differences between the company's taxable profits and its results as stated in the |
| financial statements that arise from the inclusion of gains and losses in tax assessments in periods |
| different from those in which they are recognised in the financial statements. Deferred tax is measured |
| using the tax rates and laws that have been enacted or substantively enacted by the balance sheet |
| date and are expected to apply to the reversal of the timing difference. |
| Leasing commitments |
| Rentals under operating leases are charged on a straight-line basis over the lease term, even if the |
| payments are not made on such basis. Benefits received and receivable as an incentive to sign an |
| operating lease are similarly spread on a straight-line basis over the lease term. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme and that of directors' personal pension schemes are charged to profit or |
| loss in the period to which they relate. |
| Employee benefits |
| The costs of short-term employee benefits are recognised as a liability and an expense. |
| Where material, the cost of any unused holiday entitlement is recognised in the period in which the |
| employee's services are received. |
| Halliday Clark Limited (Registered number: 02806566) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Impairment of assets |
| Assets, other than those measured at fair value, are assessed for indicators of impairment at each |
| balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in |
| profit and loss as described below. |
| Non financial assets |
| An asset is impaired when there is objective evidence that, as a result of one or more events that |
| occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The |
| recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. |
| Financial assets |
| For financial assets carried at cost less impairment, the impairment loss is the difference between the |
| asset's carrying amount and the best estimate of the amount that would be received for the asset if it |
| were sold at the reporting date. |
| Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively |
| to an event occurring after the impairment was recognised, the prior impairment loss is tested to |
| determine reversal. An impairment loss is reversed on an individual impaired financial asset to the |
| extent that the revised recoverable value does not lead to a revised carrying amount higher than the |
| carrying value had the impairment loss not been recognised. |
| Critical accounting judgements and sources of estimation uncertainty |
| In the application of the Company's accounting policies, management is required to make judgements, |
| estimates and assumptions about the carrying values of assets and liabilities that are not readily |
| apparent from other sources. The estimates and associated assumptions are based on historical |
| experience and other factors that are considered to be relevant. Actual results may differ from these |
| estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to |
| accounting estimates are recognised in the period in which the estimate is revised if the revision |
| affects only that period, or in the period of the revision and future periods if the revision affects both |
| current and future periods. |
| The critical judgements that the directors have made in applying the company's accounting policies |
| and the key sources of estimation uncertainty that have had the most significant effect on the amounts |
| recognised in the financial statements are described below: |
| Long term contracts |
| Amounts recoverable on contracts are recognised in debtors, as the amount recognised in turnover but |
| not yet invoiced, to the extent that these amounts are considered recoverable. Any forecast contract |
| losses are recognised in full at in the profit and loss account at the point the directors consider this |
| outcome to be likely. |
| Recoverability of trade debtors |
| Outstanding trade debtor balances are reviewed on a line by line bass by management to identify |
| possible amounts where an impairment provision is required. When assessing recoverability the |
| directors have considered factors such as the ageing of the debts, past experience of recoverability, |
| and the credit profile of individual customers. |
| Operating lease commitments |
| The company has entered into commercial leases as lessee to obtain the use of property, plant and |
| equipment. The classification of such leases as operating or finance leases requires the company to |
| determine, based on an evaluation of the terms and conditions of the arrangements, whether it |
| remains or acquires the significant risks and rewards of ownership of these assets and accordingly |
| whether the lease requires the recognition of an asset and liability in the balance sheet. |
| Halliday Clark Limited (Registered number: 02806566) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2018 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 May 2017 |
| Additions |
| At 30 April 2018 |
| DEPRECIATION |
| At 1 May 2017 |
| Charge for year |
| At 30 April 2018 |
| NET BOOK VALUE |
| At 30 April 2018 |
| At 30 April 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Other creditors |
| Halliday Clark Limited (Registered number: 02806566) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2018 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| The bank loans are secured by the debenture over the assets of the company. |
| 10. | CALLED UP SHARE CAPITAL |
| 2017 | 2016 |
| £ | £ |
| Allotted, issued and fully paid | 100 | 100 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 April 2018 and |
| 30 April 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |