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Unaudited Financial Statements |
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for the Year Ended 5th April 2020 |
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Hayes Associates Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 5th April 2020 |
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for |
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Hayes Associates Limited |
Hayes Associates Limited (Registered number: 02200478) |
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Contents of the Financial Statements |
for the Year Ended 5th April 2020 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Hayes Associates Limited |
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Company Information |
for the Year Ended 5th April 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Bank House |
Market Square |
Congleton |
Cheshire |
CW12 1ET |
Hayes Associates Limited (Registered number: 02200478) |
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Abridged Balance Sheet |
5th April 2020 |
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5/4/20 | 5/4/19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
Hayes Associates Limited (Registered number: 02200478) |
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Abridged Balance Sheet - continued |
5th April 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Hayes Associates Limited (Registered number: 02200478) |
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Notes to the Financial Statements |
for the Year Ended 5th April 2020 |
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1. | STATUTORY INFORMATION |
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Hayes Associates Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The directors have considered the potential impact of COVID-19 on the principal activities of the business and they believe that they have sufficient resources in place to operate for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax. |
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Income is recognised when services have been delivered to customers such that risks and rewards of ownership have transferred to them. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
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Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors and directors loans. |
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Directors loans (being repayable on demand ) and trade debtors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Hayes Associates Limited (Registered number: 02200478) |
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Notes to the Financial Statements - continued |
for the Year Ended 5th April 2020 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 6th April 2019 |
and 5th April 2020 |
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DEPRECIATION |
At 6th April 2019 |
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Charge for year |
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At 5th April 2020 |
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NET BOOK VALUE |
At 5th April 2020 |
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At 5th April 2019 |
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5. | POST BALANCE SHEET EVENTS |
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In March 2020, the UK was impacted by the outbreak of COVID-19. In order to manage the spread of the virus the Government has imposed significant restrictions on the movement of people and the ability of businesses to continue to trade. This event occurred before the company’s reporting period and so is considered to be an adjusting event. Accordingly, the balance sheet and profit and loss for the year end 5th April 2020 have been adjusted to reflect their impact. |
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The Directors acknowledge the increasing risk from COVID-19 and have sought to mitigate their risk by carrying out a thorough review of the business as discussed below: |
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Coronavirus bounce back loan |
After the year end the company received a coronavirus bounce back loan to help support the continuation of the business. |