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REGISTERED NUMBER:
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K Hough Contractors Limited |
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Unaudited Financial Statements |
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for the Period |
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23 March 2017 to 31 March 2018 |
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REGISTERED NUMBER:
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K Hough Contractors Limited |
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Unaudited Financial Statements |
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for the Period |
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23 March 2017 to 31 March 2018 |
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K Hough Contractors Limited (Registered number: 10687311) |
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Contents of the Financial Statements |
for the Period 23 March 2017 to 31 March 2018 |
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Page |
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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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K Hough Contractors Limited |
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Company Information |
for the Period 23 March 2017 to 31 March 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Lakeside Offices |
The Old Cattle Market |
Coronation Park |
Helston |
Cornwall |
TR13 0SR |
K Hough Contractors Limited (Registered number: 10687311) |
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Balance Sheet |
31 March 2018 |
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Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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The director acknowledges his responsibilities for: |
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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. |
K Hough Contractors Limited (Registered number: 10687311) |
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Balance Sheet - continued |
31 March 2018 |
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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 on
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K Hough Contractors Limited (Registered number: 10687311) |
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Notes to the Financial Statements |
for the Period 23 March 2017 to 31 March 2018 |
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1. | STATUTORY INFORMATION |
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K Hough Contractors Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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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Tangible fixed assets |
Tangible fixed assets are recognised at cost less any accumulated depreciation and impairment losses. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Plant & machinery - 20% on cost |
Computer equipment - 25% on cost |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing |
stocks to their present location and condition. |
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Taxation |
Taxation for the period 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 period 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. |
K Hough Contractors Limited (Registered number: 10687311) |
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Notes to the Financial Statements - continued |
for the Period 23 March 2017 to 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss 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 |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic |
financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
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Going concern |
The company's balance sheet shows net liabilities at the balance sheet date of £72,089. This includes a deferred tax |
liability of £17,894. |
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This is the company's first period of trading in which the director introduced assets into the company, which stand as an |
amount owing to him on his director's current account. The amount owing to the director as at the balance sheet date |
was £187,235. |
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The director will not withdraw this amount and will continue to support the company going forward, notwithstanding |
the company's positive profitability post year end. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
Additions |
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At 31 March 2018 |
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DEPRECIATION |
Charge for period |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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K Hough Contractors Limited (Registered number: 10687311) |
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Notes to the Financial Statements - continued |
for the Period 23 March 2017 to 31 March 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Hire purchase contracts |
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8. | RELATED PARTY DISCLOSURES |
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During the year an amount of £191,035 was loaned to the company from the director. The balance outstanding at the |
balance sheet date is £187,235 and this is included within Other creditors. There is no interest charged on this loan. |