Company Registration No. 2357749 (England and Wales)
Hardings Transport Limited
Unaudited accounts
for the year ended 31 March 2017
Hardings Transport Limited
Unaudited accounts
Contents
Hardings Transport Limited
Company Information
for the year ended 31 March 2017
Secretary
Sharon Anne Harding
Company Number
2357749 (England and Wales)
Registered Office
Canister Farm, Reg's Way
Bardon 22 Industrial Estate
Coalville
Leicestershire
LE67 1FL
UK
Accountants
Witherington & Co Ltd
55a London Road
Leicester
LE2 0PE
Hardings Transport Limited
Statement of financial position
as at
31 March 2017
Tangible assets
2,634,545
2,471,205
Investments
32,561
30,324
Cash at bank and in hand
354,212
208,230
Creditors: amounts falling due within one year
(744,262)
(645,441)
Net current assets
282,615
255,179
Total assets less current liabilities
2,949,721
2,756,708
Creditors: amounts falling due after more than one year
(782,936)
(872,189)
Provisions for liabilities
Deferred tax
(150,181)
(151,062)
Net assets
2,016,604
1,733,457
Called up share capital
100
100
Profit and loss account
2,016,504
1,733,357
Shareholders' funds
2,016,604
1,733,457
For the year ending 31 March 2017 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
Approved by the Board on 12 June 2017.
Ian Ty Harding
Director
Company Registration No. 2357749
Hardings Transport Limited
Notes to the Accounts
for the year ended 31 March 2017
Hardings Transport Limited is a private company, limited by shares, registered in England and Wales, registration number 2357749. The registered office and principal place of business is Canister Farm, Reg's Way, Bardon 22 Industrial Estate, Coalville, Leicestershire, LE67 1FL, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on reducing balance
Investments in shares are included at fair value.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Hardings Transport Limited
Notes to the Accounts
for the year ended 31 March 2017
The company operates a defined contribution scheme for the beenefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2016
1,582,455
122,576
1,270,057
407,317
83,997
3,466,402
Additions
15,356
2,218
416,950
16,786
3,363
454,673
Disposals
-
(4,500)
(190,000)
-
-
(194,500)
At 31 March 2017
1,597,811
120,294
1,497,007
424,103
87,360
3,726,575
At 1 April 2016
-
75,354
626,376
218,897
74,570
995,197
Charge for the year
-
11,705
199,615
47,292
3,645
262,257
On disposals
-
(2,958)
(162,466)
-
-
(165,424)
At 31 March 2017
-
84,101
663,525
266,189
78,215
1,092,030
At 31 March 2017
1,597,811
36,193
833,482
157,914
9,145
2,634,545
At 31 March 2016
1,582,455
47,222
643,681
188,420
9,427
2,471,205
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Investments
Other investments
Valuation at 1 April 2016
30,324
Fair value adjustments
1,204
Valuation at 31 March 2017
32,561
Trade debtors
655,934
677,086
Accrued income and prepayments
10,531
10,514
Other debtors
6,200
4,790
Hardings Transport Limited
Notes to the Accounts
for the year ended 31 March 2017
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
58,515
33,888
Obligations under finance leases and hire purchase contracts
162,556
124,542
Trade creditors
174,506
143,307
Corporation tax
104,969
73,539
Other taxes and social security costs
94,852
118,498
Proposed dividends
130,000
130,000
Loans from directors
3,009
3,009
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Creditors: amounts falling due after more than one year
2017
2016
Bank loans
660,992
794,134
Obligations under finance leases and hire purchase contracts
121,944
78,055
9
Share capital
2017
2016
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 40 (2016: 40).