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Unaudited Financial Statements for the Year Ended 31 December 2019 |
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Hazledene (Coalsnaughton) Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2019 |
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for |
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Hazledene (Coalsnaughton) Limited |
Hazledene (Coalsnaughton) Limited (Registered number: SC302008) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Hazledene (Coalsnaughton) Limited |
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Company Information |
for the Year Ended 31 December 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
3 Holmwood Park |
Crossford |
Lanarkshire |
ML8 5SZ |
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SOLICITORS: |
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The Ca'd'ora |
45 Gordon Street |
Glasgow |
G1 3PE |
Hazledene (Coalsnaughton) Limited (Registered number: SC302008) |
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Statement of Financial Position |
31 December 2019 |
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2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Prepayments and accrued income |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement 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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Hazledene (Coalsnaughton) Limited (Registered number: SC302008) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Hazledene (Coalsnaughton) 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 financial statements have been prepared on a going concern basis which assumes that the company will continue to meet its obligations as they fall due for at least 12 months from the date of approval of the financial statements. During the year the company made a net profit of £256,688 and had net liabilities of £2,692,879 at the year end. |
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The director recognises that the company relies on the financial support provided by Hazledene Group Limited, the company's ultimate parent undertaking . Hazledene Group Limited has confirmed that it will continue to support the company for a period not less than 12 months from the date of the approval of these financial statements. Accordingly, the director considers that it is appropriate to prepare the financial statements on a going concern basis. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Significant judgements and estimates |
Preparation of financial statements requires management to make significant judgements and estimates. There are no items in the financial statements where any significant judgements or estimates have been made. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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Hazledene (Coalsnaughton) Limited (Registered number: SC302008) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
VAT |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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6. | POST BALANCE SHEET EVENTS |
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The Company has determined that the Covid 19 pandemic and the consequential economic slowdown are non-adjusting subsequent events. Accordingly, the financial position and results of operations as of, and for the year ended, 31 December 2019 have not been adjusted to reflect their impact. The duration and impact of the Covid 19 pandemic remains unclear at this time. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the Company for the future. |
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7. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Hazledene Group Limited. |
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The ultimate controlling party is
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