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Registration number: 09743431

Hanson Ventures Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Hanson Ventures Ltd

Director's Report for the Year Ended 31 March 2022

The director presents his report and the financial statements for the year ended 31 March 2022.

Director of the company

The director who held office during the year was as follows:

Mr Martin Hanson

Principal activity

The principal activity of the company is Holding company

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 August 2022
 

.........................................
Mr Martin Hanson
Director

 

Hanson Ventures Ltd

(Registration number: 09743431)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Investments

5

545,355

545,265

Current assets

 

Debtors

6

19,028

16,128

Cash at bank and in hand

 

4,105

11,054

 

23,133

27,182

Creditors: Amounts falling due within one year

7

(897)

(790)

Net current assets

 

22,236

26,392

Net assets

 

567,591

571,657

Capital and reserves

 

Called up share capital

4

4

Share premium reserve

164,997

164,997

Capital redemption reserve

4

4

Other reserves

200,439

200,439

Retained earnings

202,147

206,213

Shareholders' funds

 

567,591

571,657

For the financial year ending 31 March 2022 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 August 2022
 

.........................................
Mr Martin Hanson
Director

 

Hanson Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

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

The address of its registered office is:
Unit 2
Fulwood View Brookside Way
Huthwaite
Sutton-in-Ashfield
NG17 2NL

These financial statements were authorised for issue by the director on 31 August 2022.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 presentation currency is GBP rounded to the nearest whole great GBP.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Hanson Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2021 - 0).

 

Hanson Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Income from shares in group undertakings

(62,000)

(39,129)

5

Investments

2022
£

2021
£

Investments in subsidiaries

545,355

545,265

Subsidiaries

£

Cost or valuation

At 1 April 2021

545,265

Additions

90

At 31 March 2022

545,355

Provision

Carrying amount

At 31 March 2022

545,355

At 31 March 2021

545,265

6

Debtors

Current

Note

2022
£

2021
£

Amounts owed by related parties

18,150

15,250

Other debtors

 

878

878

 

Hanson Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

(5)

5

Accruals and deferred income

 

900

785

Other creditors

 

2

-

 

897

790

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Other borrowings

(5)

5