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REGISTERED NUMBER: 08863172 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

HKN Management Limited

HKN Management Limited (Registered number: 08863172)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HKN Management Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr M F Harkin
Mrs I M Harkin





REGISTERED OFFICE: 3B Lockheed Court
Preston Farm
Stockton on Tees
TS18 3SH





REGISTERED NUMBER: 08863172 (England and Wales)





ACCOUNTANTS: JBC Accountants Limited
Chartered Accountants
3B Lockheed Court
Preston Farm
Stockton on Tees
TS18 3SH

HKN Management Limited (Registered number: 08863172)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 8,399 26,539

CURRENT ASSETS
Stocks 13,711 29,449
Debtors 5 458,422 349,359
Cash at bank 166,081 317,578
638,214 696,386
CREDITORS
Amounts falling due within one year 6 330,168 300,298
NET CURRENT ASSETS 308,046 396,088
TOTAL ASSETS LESS CURRENT
LIABILITIES

316,445

422,627

CREDITORS
Amounts falling due after more than one
year

7

(16,667

)

(25,717

)

PROVISIONS FOR LIABILITIES (1,260 ) (6,635 )
NET ASSETS 298,518 390,275

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 298,418 390,175
SHAREHOLDERS' FUNDS 298,518 390,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

HKN Management Limited (Registered number: 08863172)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 23 December 2024 and were signed on its behalf by:





Mr M F Harkin - Director


HKN Management Limited (Registered number: 08863172)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

HKN Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. 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, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account.
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
Tax deferred or accelerated is accounted for in respect of all material timing differences.

Current and deferred tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

HKN Management Limited (Registered number: 08863172)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 April 2023 43,531
Additions 1,256
Disposals (23,517 )
At 31 March 2024 21,270
DEPRECIATION
At 1 April 2023 16,992
Charge for year 3,091
Eliminated on disposal (7,212 )
At 31 March 2024 12,871
NET BOOK VALUE
At 31 March 2024 8,399
At 31 March 2023 26,539

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Trade debtors 197,999 224,591
Amounts owed by group undertakings 62,616 -
Other debtors 197,807 124,768
458,422 349,359

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Trade creditors 103,980 61,462
Taxation and social security 197,294 193,081
Other creditors 28,894 45,755
330,168 300,298

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£ £
Other creditors 16,667 25,717

HKN Management Limited (Registered number: 08863172)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24 31/3/23
£ £
Mr M F Harkin
Balance outstanding at start of year 88,165 45,611
Amounts advanced 99,610 65,258
Amounts repaid (6,566 ) (22,704 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 181,209 88,165

Interest has been charged on this loan at 2.5%