Hawthorne Forest Products Limited
|
Registered Number
:
NI
070707
|
For the year ended 31 March 2020
Northern Ireland
Unaudited Financial Statements
For the year ended 31 March 2020
Hawthorne Forest Products Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Hawthorne Forest Products Limited
Statement of Financial Position
2019
2020
Property
,
plant and equipment
|
119,745
139,113
2
119,745
139,113
798,834
1,450,536
3
Trade and other receivables
|
653,455
806,598
4
87
Cash and cash equivalents
|
87
2,257,221
1,452,376
Trade and other payables
:
amounts falling due within one
|
year
|
(670,193)
(1,349,361)
5
782,183
907,860
Net current assets
Total assets less current liabilities
|
1,027,605
921,296
Trade and other payables
:
amounts falling due after more
|
than one year
|
(3,300)
-
6
(13,837)
(16,948)
Provisions for liabilities
|
1,013,768
Net assets
901,048
10,149
10,149
1,003,619
890,899
1,013,768
901,048
Shareholders' funds
For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
Mr David Hawthorne Director
|
These financial statements were approved and authorised for issue by the Board on 02 July 2020 and were signed by:
|
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For the year ended 31 March 2020
Hawthorne Forest Products Limited
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 5
For the year ended 31 March 2020
Hawthorne Forest Products Limited
Notes to the Financial Statements
Statutory Information
Hawthorne Forest Products Limited is a private limited company
,
limited by shares
,
domiciled in Northern Ireland
,
|
registration number NI
070707
.
|
31 Markethill Road
Newtownhamilton
County Down
BT35 0BE
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
|
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Property, plant and equipment
Property, plant and equipment, 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:
|
Land and Buildings
Plant and Machinery
Computer Equipment
Motor Vehicles
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
|
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
|
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
|
3 of 5
For the year ended 31 March 2020
Hawthorne Forest Products Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
441,586
-
39,412
15,900
386,274
7,668
6,168
-
-
1,500
15,900
39,412
6,168
449,254
387,774
Provision for depreciation and impairment
|
302,473
-
4,073
13,148
285,252
Charge for year
27,036
731
5,301
550
20,454
329,509
731
9,374
13,698
305,706
82,068
2,202
30,038
5,437
119,745
101,022
2,752
35,339
-
139,113
2019
2020
1,450,536
798,834
4
.
Trade and other receivables
|
2019
2020
643,688
476,354
Prepayments and accrued income
|
37,917
12,101
124,993
165,000
653,455
806,598
4 of 5
For the year ended 31 March 2020
Hawthorne Forest Products Limited
Notes to the Financial Statements Continued
5
.
Trade and other payables
:
amounts falling due within one year
|
2019
2020
155,928
175,756
1,074,827
413,248
Taxation and social security
|
1,392
40,294
Accruals and deferred income
|
112,035
21,920
Directors
'
loan accounts
|
2,153
15,674
Obligations under HP
/
Financial leases
|
3,026
3,301
1,349,361
670,193
6
.
Trade and other payables
:
amounts falling due after more than one year
|
2019
2020
3,300
-
Obligations under HP
/
Financial leases
|
7
.
Average number of persons employed
|
During the year the average number of employees was 26 (2019 : 30)
5 of 5