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Registered Number: 04731898
England and Wales

 

 

 

HANNS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 187,000    198,000 
Tangible fixed assets 4 20,323    14,355 
207,323    212,355 
Current assets      
Stocks 5 44,000    44,000 
Debtors 6 108,474    110,298 
Cash at bank and in hand 1,419,392    1,384,206 
1,571,866    1,538,504 
Creditors: amount falling due within one year 7 (784,381)   (720,804)
Net current assets 787,485    817,700 
 
Total assets less current liabilities 994,808    1,030,055 
Provisions for liabilities 8 (3,794)   (2,646)
Net assets 991,014    1,027,409 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 990,914    1,027,309 
Shareholder's funds 991,014    1,027,409 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 December 2023 and were signed on its behalf by:


-------------------------------
H Chauhan
Director
1
General Information
Hanns Limited is a private company, limited by shares, registered in England and Wales, registration number 04731898, registration address 50 Greenford Road, Greenford, Middlesex, UB6 9AT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Pension cost
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the reporting period.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 10% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 10 (2022 : 14).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2022 220,000    220,000 
Additions  
Disposals  
At 31 March 2023 220,000    220,000 
Amortisation
At 01 April 2022 22,000    22,000 
Charge for year 11,000    11,000 
On disposals  
At 31 March 2023 33,000    33,000 
Net book values
At 31 March 2023 187,000    187,000 
At 31 March 2022 198,000    198,000 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 April 2022 54,239    54,239 
Additions 7,592    7,592 
Disposals  
At 31 March 2023 61,831    61,831 
Depreciation
At 01 April 2022 39,884    39,884 
Charge for year 1,624    1,624 
On disposals  
At 31 March 2023 41,508    41,508 
Net book values
Closing balance as at 31 March 2023 20,323    20,323 
Opening balance as at 01 April 2022 14,355    14,355 


5.

Stocks

2023
£
  2022
£
Stocks 44,000    44,000 
44,000    44,000 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 100,294    103,616 
Other Debtors 8,180    6,682 
108,474    110,298 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 67,533    63,838 
Taxation and Social Security 8,795    4,572 
Other Creditors 708,053    652,394 
784,381    720,804 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 3,794    2,646 
3,794    2,646 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
96 Ordinary shares of £1.00 each 96    96 
1 A Ordinary share of £1.00 each  
1 B Ordinary share of £1.00 each  
1 C Ordinary share of £1.00 each  
1 D Ordinary share of £1.00 each  
100    100 
Ordinary Share Capital
All ordinary shares have equal rights on voting, dividend and capital distribution.

10.

Control

The company was under the control of the directors throughout the current and previous year.
2