Hayrish Asset Management Limited 09656093 false 2017-07-01 2018-06-30 2018-06-30 The principal activity of the company is Consultancy services Digita Accounts Production Advanced 6.21.8540.0 Software true false 09656093 2017-07-01 2018-06-30 09656093 2018-06-30 09656093 core:RetainedEarningsAccumulatedLosses 2018-06-30 09656093 core:ShareCapital 2018-06-30 09656093 core:CurrentFinancialInstruments 2018-06-30 09656093 core:CurrentFinancialInstruments core:WithinOneYear 2018-06-30 09656093 core:FurnitureFittings 2018-06-30 09656093 bus:SmallEntities 2017-07-01 2018-06-30 09656093 bus:AuditExemptWithAccountantsReport 2017-07-01 2018-06-30 09656093 bus:FullAccounts 2017-07-01 2018-06-30 09656093 bus:RegisteredOffice 2017-07-01 2018-06-30 09656093 bus:Director1 2017-07-01 2018-06-30 09656093 bus:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30 09656093 bus:Agent1 2017-07-01 2018-06-30 09656093 core:FurnitureFittings 2017-07-01 2018-06-30 09656093 core:OfficeEquipment 2017-07-01 2018-06-30 09656093 1 2017-07-01 2018-06-30 09656093 countries:AllCountries 2017-07-01 2018-06-30 09656093 2017-06-30 09656093 core:FurnitureFittings 2017-06-30 09656093 2016-07-01 2017-06-30 09656093 2017-06-30 09656093 core:RetainedEarningsAccumulatedLosses 2017-06-30 09656093 core:ShareCapital 2017-06-30 09656093 core:CurrentFinancialInstruments 2017-06-30 09656093 core:CurrentFinancialInstruments core:WithinOneYear 2017-06-30 09656093 core:FurnitureFittings 2017-06-30 iso4217:GBP xbrli:pure

Registration number: 09656093

Hayrish Asset Management Limited

Annual Report and Unaudited Financial Statements - Companies House Filing

for the Year Ended 30 June 2018

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hayrish Asset Management Limited
for the Year Ended 30 June 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hayrish Asset Management Limited for the year ended 30 June 2018 as set out on pages 2 to 7 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 (ICAEW), 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 Hayrish Asset Management Limited, as a body, in accordance with the terms of our engagement letter dated 17 November 2016. Our work has been undertaken solely to prepare for your approval the accounts of Hayrish Asset Management Limited and state those matters that we have agreed to state to the Board of Directors of Hayrish Asset Management 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 Hayrish Asset Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hayrish Asset Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Hayrish Asset Management Limited. You consider that Hayrish Asset Management 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 accounts of Hayrish Asset Management 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 accounts.

......................................

Stewart & Co
Chartered Accountants
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

16 October 2018

 

Hayrish Asset Management Limited

(Registration number: 09656093)
Statement of Financial Position as at 30 June 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

3,934

1,784

Current assets

 

Debtors

5

431,125

57,614

Cash at bank and in hand

 

35,246

360,035

 

466,371

417,649

Creditors: Amounts falling due within one year

6

(406,271)

(285,535)

Net current assets

 

60,100

132,114

Total assets less current liabilities

 

64,034

133,898

Provisions for liabilities

(747)

(339)

Net assets

 

63,287

133,559

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

63,187

133,459

Total equity

 

63,287

133,559

For the financial year ending 30 June 2018 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared 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'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

 

Hayrish Asset Management Limited

(Registration number: 09656093)
Statement of Financial Position as at 30 June 2018

Approved and authorised by the Board on 16 October 2018 and signed on its behalf by:
 

.........................................

Mr A W Walton

Director

 

Hayrish Asset Management Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Hayrish Asset Management Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Financial instruments

Recognition and measurement
The Company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans
to related parties.

 
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2017 - 3).

 

Hayrish Asset Management Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 July 2017

2,766

2,766

Additions

3,462

3,462

At 30 June 2018

6,228

6,228

Depreciation

At 1 July 2017

982

982

Charge for the year

1,312

1,312

At 30 June 2018

2,294

2,294

Carrying amount

At 30 June 2018

3,934

3,934

At 30 June 2017

1,784

1,784

5

Debtors

Note

2018
£

2017
£

Trade debtors

 

4,357

2,104

Amounts owed by group undertakings and undertakings in which the company has a participating interest

7

257,886

19,737

Prepayments

 

143,600

16,000

Other debtors

 

25,282

19,773

 

431,125

57,614

6

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Trade creditors

 

133,535

45,743

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

7,655

8,900

Taxation and social security

 

1,222

38,242

Accruals and deferred income

 

6,667

16,940

Other creditors

 

257,192

175,710

 

406,271

285,535

 

Hayrish Asset Management Limited

Notes to the Financial Statements for the Year Ended 30 June 2018

7

Related party transactions

At the balance sheet date the company owed £249,450 to its directors (2017 - £168,510).

8

Parent and ultimate parent undertaking

The company's immediate parent is The Hayrish Group Limited, incorporated in England.

 The ultimate parent is Hayrish Holdings Limited, incorporated in England.