Company Registration No. 04762807 (England and Wales)
A & H HARGREAVES (ROSSENDALE) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
A & H HARGREAVES (ROSSENDALE) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
A & H HARGREAVES (ROSSENDALE) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
12,250
14,000
Tangible assets
2
61,541
60,980
73,791
74,980
Current assets
Stocks
6,998
6,210
Debtors
109,641
113,329
Cash at bank and in hand
65,172
11,838
181,811
131,377
Creditors: amounts falling due within one year
(78,277)
(48,559)
Net current assets
103,534
82,818
Total assets less current liabilities
177,325
157,798
Provisions for liabilities
(12,308)
(12,196)
165,017
145,602
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
165,015
145,600
Shareholders' funds
165,017
145,602
A & H HARGREAVES (ROSSENDALE) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2016
30 June 2016
- 2 -
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 14 September 2016
P G Melling
D A Melling
Director
Director
Company Registration No. 04762807
A & H HARGREAVES (ROSSENDALE) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
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 directors are not aware of any material uncertainties affecting the company, and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result, the directors have continued to adopt the going concern basis in preparing the financial statements.
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Plant and machinery
10% reducing balance
Motor vehicles
25% reducing balance
A & H HARGREAVES (ROSSENDALE) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 July 2015
35,000
124,162
159,162
Additions
-
10,459
10,459
Disposals
-
(4,257)
(4,257)
At 30 June 2016
35,000
130,364
165,364
Depreciation
At 1 July 2015
21,000
63,182
84,182
On disposals
-
(4,122)
(4,122)
Charge for the year
1,750
9,763
11,513
At 30 June 2016
22,750
68,823
91,573
Net book value
At 30 June 2016
12,250
61,541
73,791
At 30 June 2015
14,000
60,980
74,980
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
4
Related party relationships and transactions
Advances and credits to directors
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
P G Melling - Advance
-
12,270
26,892
-
39,162
D A Melling - Advance
-
12,270
26,891
-
39,161
24,540
53,783
-
78,323
-
The maximum amounts outstanding during the year were P G Melling £14,511 (2015 - £14,770) and D A Melling £14,511 (2015 - £14,770).
A & H HARGREAVES (ROSSENDALE) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
4
Related party relationships and transactions
(Continued)
- 5 -
Loans from directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
P G Melling - Loan
-
-
889
-
-
889
D A Melling - Loan
-
-
888
-
-
888
-
1,777
-
-
1,777
Other transactions
The premises occupied by the company are owned by the directors, and have been used by the company for the purpose of its business at an annual rental of £20,000 (2015 - £12,000).