Company Registration No. 04602430 (England and Wales)
The Production Hire Company Ltd
Unaudited accounts
for the year ended 28 February 2018
The Production Hire Company Ltd
Unaudited accounts
Contents
The Production Hire Company Ltd
Company Information
for the year ended 28 February 2018
Company Number
04602430 (England and Wales)
Registered Office
90B HIGH STREET
BRACKLEY
NORTHANTS
NN13 7DR
Accountants
Thyme Accounting Services Limited
Flat 10 Leighton Lodge
15 Branksome Wood Road
Bournemouth
Dorset
BH2 6BX
The Production Hire Company Ltd
Accountants' report
Accountants' report to the director of The Production Hire Company Ltd on the preparation of the unaudited statutory accounts for the year ended 28 February 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
The Production Hire Company Ltd for the year ended
28 February 2018 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of The Production Hire Company Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of The Production Hire Company Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Production Hire Company Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Production Hire Company Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Production Hire Company Ltd. You consider that The Production Hire Company Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Production Hire Company Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Thyme Accounting Services Limited
Flat 10 Leighton Lodge
15 Branksome Wood Road
Bournemouth
Dorset
BH2 6BX
28 November 2018
The Production Hire Company Ltd
Statement of financial position
as at
28 February 2018
Tangible assets
514,150
457,910
Cash at bank and in hand
58,865
45,040
Creditors: amounts falling due within one year
(212,955)
(215,239)
Net current liabilities
(95,979)
(106,964)
Total assets less current liabilities
418,171
350,946
Creditors: amounts falling due after more than one year
(5,193)
(10,347)
Provisions for liabilities
Deferred tax
(102,829)
(84,455)
Net assets
310,149
256,144
Called up share capital
2
2
Profit and loss account
310,147
256,142
Shareholders' funds
310,149
256,144
For the year ending 28 February 2018 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. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 28 November 2018.
Mark Neil
Director
Company Registration No. 04602430
The Production Hire Company Ltd
Notes to the Accounts
for the year ended 28 February 2018
The Production Hire Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 04602430. The registered office is 90B HIGH STREET, BRACKLEY, NORTHANTS, NN13 7DR.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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% per annum on a reducing balance basis
Motor vehicles
25% per annum on a reducing balance basis
Fixtures & fittings
25% per annum on a reducing balance basis
Computer equipment
25% per annum on a reducing balance basis
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.
The Production Hire Company Ltd
Notes to the Accounts
for the year ended 28 February 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2017
1,293,280
98,460
5,056
9,766
1,406,562
Additions
260,624
4,925
15,189
1,885
282,623
Disposals
(55,000)
-
-
-
(55,000)
At 28 February 2018
1,498,904
103,385
20,245
11,651
1,634,185
At 1 March 2017
879,764
57,068
3,904
7,916
948,652
Charge for the year
154,785
11,579
4,085
934
171,383
At 28 February 2018
1,034,549
68,647
7,989
8,850
1,120,035
At 28 February 2018
464,355
34,738
12,256
2,801
514,150
At 28 February 2017
413,516
41,392
1,152
1,850
457,910
Trade debtors
12,810
55,469
Accrued income and prepayments
43,430
3,001
Other debtors
1,871
4,765
6
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
5,770
5,770
Trade creditors
135,582
140,658
Taxes and social security
45,236
33,133
Other creditors
5,372
27,373
Loans from directors
18,495
-
7
Creditors: amounts falling due after more than one year
2018
2017
8
Share capital
2018
2017
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Average number of employees
During the year the average number of employees was 4 (2017: 3).