Company Registration No. 00241601 (England and Wales)
H S RICHARDS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
H S RICHARDS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
H S RICHARDS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2015
30 June 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
23,178
17,988
Current assets
Stocks
86,241
90,270
Debtors
645,794
644,015
Cash at bank and in hand
27,725
19,269
759,760
753,554
Creditors: amounts falling due within one year
(270,638)
(298,553)
Net current assets
489,122
455,001
Total assets less current liabilities
512,300
472,989
Creditors: amounts falling due after more than one year
(4,122)
(7,656)
508,178
465,333
Capital and reserves
Called up share capital
3
10,000
10,000
Share premium account
503
503
Profit and loss account
497,675
454,830
Shareholders' funds
508,178
465,333
For the financial year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 March 2016
Mr R J Colman
Mr M J Round
Director
Director
Company Registration No. 00241601
H S RICHARDS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Straight line basis - 5%
Plant and machinery
Reducing balance basis - 15%
Fixtures, fittings & equipment
Straight line basis - 25%
Motor vehicles
Reducing balance basis - 25%
1.5
Leasing and hire purchase commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
H S RICHARDS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2014
248,026
Additions
10,058
At 30 June 2015
258,084
Depreciation
At 1 July 2014
230,038
Charge for the year
4,868
At 30 June 2015
234,906
Net book value
At 30 June 2015
23,178
At 30 June 2014
17,988
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
10,000 Ordinary of £1 each
10,000
10,000
4
Ultimate parent company
The ultimate parent company is Smethwick Coatings Limited, a company registered in England and Wales.