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Registration number: SC311059

Hanlea Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Hanlea Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Hanlea Ltd

(Registration number: SC311059)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,455

7,754

Current assets

 

Debtors

5

1,175

4,937

Cash at bank and in hand

 

-

3,845

 

1,175

8,782

Creditors: Amounts falling due within one year

6

(41,026)

(33,200)

Net current liabilities

 

(39,851)

(24,418)

Net liabilities

 

(38,396)

(16,664)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(38,406)

(16,674)

Shareholders' deficit

 

(38,396)

(16,664)

For the financial year ending 31 October 2023 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 29 July 2024
 

.........................................
Mr Billy Shepherd
Director

 

Hanlea Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
10 Challum Crescent
Broughty Ferry
Dundee
Dundee City
DD5 3SY
Scotland

2

Accounting policies

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 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.

 

Hanlea Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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

Motor Vehicles

25% reducing balance

Equipment

25% straight line

Franchise Fee

20% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 4 (2022 - 4).

 

Hanlea Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Franchise fees
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

28,500

2,121

13,641

44,262

At 31 October 2023

28,500

2,121

13,641

44,262

Depreciation

At 1 November 2022

22,800

1,621

12,087

36,508

Charge for the year

5,700

210

389

6,299

At 31 October 2023

28,500

1,831

12,476

42,807

Carrying amount

At 31 October 2023

-

290

1,165

1,455

At 31 October 2022

5,700

500

1,554

7,754

5

Debtors

Current

2023
£

2022
£

Trade debtors

405

4,168

Other debtors

770

769

 

1,175

4,937

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

880

-

Trade creditors

 

2,747

1,979

Taxation and social security

 

2,771

5,366

Accruals and deferred income

 

1,602

1,514

Other creditors

 

33,026

24,341

 

41,026

33,200