Company Registration No. 00241601 (England and Wales)
H S RICHARDS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
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 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
18,946
23,178
Current assets
Stocks
100,185
86,241
Debtors
580,204
645,794
Cash at bank and in hand
84,503
27,725
764,892
759,760
Creditors: amounts falling due within one year
(243,272)
(270,638)
Net current assets
521,620
489,122
Total assets less current liabilities
540,566
512,300
Creditors: amounts falling due after more than one year
(589)
(4,122)
539,977
508,178
Capital and reserves
Called up share capital
3
10,000
10,000
Share premium account
503
503
Profit and loss account
529,474
497,675
Shareholders' funds
539,977
508,178
For the financial year ended 30 June 2016 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 9 March 2017
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 2016
- 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 January 2015).
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 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015
258,084
Additions
2,745
At 30 June 2016
260,829
Depreciation
At 1 July 2015
234,905
Charge for the year
6,978
At 30 June 2016
241,883
Net book value
At 30 June 2016
18,946
At 30 June 2015
23,178
3
Share capital
2016
2015
£
£
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.