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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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HOWCROFT INDUSTRIAL SUPPLIES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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FOR |
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HOWCROFT INDUSTRIAL SUPPLIES LIMITED |
HOWCROFT INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 06055780) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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HOWCROFT INDUSTRIAL SUPPLIES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
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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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12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
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BANKERS: |
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18 Barnsley Road |
South Elmsall |
Pontefract |
West Yorkshire |
WF9 2SE |
HOWCROFT INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 06055780) |
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BALANCE SHEET |
31 MARCH 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
9 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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HOWCROFT INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 06055780) |
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BALANCE SHEET - continued |
31 MARCH 2018 |
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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 and authorised for issue by the director on
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HOWCROFT INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 06055780) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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1. | STATUTORY INFORMATION |
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Howcroft Industrial Supplies Limited is a
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England and Wales. The company's registered number and registered office address can be |
found on the Company Information page. |
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The financial statements are presented in sterling which is the functional currency of the |
company and rounded to the nearest pound. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
No judgements have been made in the process of applying the below accounting policies |
that have had the most significant effect on amounts recognised in the financial |
statements. |
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There are no key assumptions concerning the future and other key sources of estimation |
uncertainty at the reporting date that have a significant risk of causing material adjustment |
to the carrying amounts of assets and liabilities within the next financial year. |
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Turnover |
Turnover from the sale of industrial supplies is recognised when significant risks and |
rewards of ownership of the goods have been transferred to the buyer, the amount of |
turnover can be measured reliably, it is probable that the economic benefits associated |
with the transaction will flow to the company and the costs incurred in respect of the |
transaction can be measure reliably. This is usually on dispatch of the goods. |
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Goodwill |
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HOWCROFT INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 06055780) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
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Leasehold property improvement | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Office equipment | - |
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Tangible fixed assets are stated at costs (or deemed cost) or valuation less accumulated |
depreciation and accumulated impairment losses. Costs include costs directly attributable |
to making the asset capable of operating as intended. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all relevant costs incurred |
in bringing the stocks to their present location and condition. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet 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. |
HOWCROFT INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 06055780) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of |
ownership remain with the lessor are charged against profits on a straight line basis over |
the period of the lease. |
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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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Financial instruments |
Financial liabilities and equity instruments are classified according to the substance to the |
substance of the contractual arrangements entered into. equity instrument is any contract |
that evidences a residual interest in the assets of the entity after deducting all of its |
financial liabilities. |
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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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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 April 2017 |
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Disposals | ( |
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At 31 March 2018 |
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AMORTISATION |
At 1 April 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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HOWCROFT INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 06055780) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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5. | TANGIBLE FIXED ASSETS |
Leasehold |
property | Plant and | Motor | Office |
improvement | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2017 |
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Additions |
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Disposals |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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6. | STOCKS |
31.3.18 | 31.3.17 |
£ | £ |
Stocks |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts |
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Prepayments and accrued income |
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HOWCROFT INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 06055780) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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VAT |
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Other creditors |
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Accruals and deferred income |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Other creditors |
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10. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.18 | 31.3.17 |
£ | £ |
Within one year |
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Between one and five years |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
value: | £ | £ |
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Ordinary A | £1 | 100 | 100 |
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Ordinary B | £1 | 1 | 1 |
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Ordinary C | £1 | 2 | 2 |
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Ordinary D | £1 | 1 | 1 |
104 | 104 |
HOWCROFT INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 06055780) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended |
31 March 2018 and 31 March 2017: |
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31.3.18 | 31.3.17 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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