Registered number
05698103
Hatchster Limited
Report and Accounts
30 April 2017
Hatchster Limited
Registered number: 05698103
Balance Sheet
as at 30 April 2017
Notes 2017 2016
£ £
Fixed assets
Intangible assets 2 1,348,643 1,159,505
Investments 4 498,808 521,258
1,847,451 1,680,763
Current assets
Debtors 5 8,609 115,948
Cash at bank and in hand 71,522 30,652
Petty Cash 194 -
80,325 146,600
Creditors: amounts falling due within one year 6 (234,101) (253,214)
Net current liabilities (153,776) (106,614)
Total assets less current liabilities 1,693,675 1,574,149
Creditors: amounts falling due after more than one year 7 (95,176) (138,833)
Net assets 1,598,499 1,435,316
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 1,348,643 1,159,505
Profit and loss account 249,756 275,711
Shareholders' funds 1,598,499 1,435,316
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mark Lewis
Director
Approved by the board on 31 January 2018
Hatchster Limited
Notes to the Accounts
for the year ended 30 April 2017
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2016 1,159,505
Additions 189,138
At 30 April 2017 1,348,643
Amortisation
At 30 April 2017 -
Net book value
At 30 April 2017 1,348,643
At 30 April 2016 1,159,505
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2016 56,522
At 30 April 2017 56,522
Depreciation
At 1 May 2016 56,522
At 30 April 2017 56,522
Net book value
At 30 April 2017 -
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 May 2016 521,258
Additions 1,650
Disposals (24,100)
At 30 April 2017 498,808
5 Debtors 2017 2016
£ £
Trade debtors 1,009 114,648
Other debtors 7,600 1,300
8,609 115,948
6 Creditors: amounts falling due within one year 2017 2016
£ £
Corporation tax 40,046 38,389
Other taxes and social security costs 90,885 51,782
Other creditors 103,170 163,043
234,101 253,214
7 Creditors: amounts falling due after one year 2017 2016
£ £
Other creditors 95,176 138,833
8 Revaluation reserve 2017 2016
£ £
At 1 May 2016 1,159,505 1,159,505
Gain on revaluation of Goodwill 189,138 -
At 30 April 2017 1,348,643 1,159,505
9 Other information
Hatchster Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Langley Street
London
WC2H 9JA
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