Nigel E Hepburn Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05830094 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Nigel E Hepburn Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

N E Hepburn

Mrs L Hepburn

REGISTERED OFFICE:

The Old Court House

Clark Street

Morecambe

Lancashire

LA4 5HR

REGISTERED NUMBER:

05830094 (England and Wales)

ACCOUNTANTS:

Waters & Atkinson

The Old Court House

Clark Street

Morecambe

Lancashire

LA4 5HR

FIXED ASSETS

Tangible assets

4

30,794

39,610

Investments

5

76,611

73,202

107,405

112,812

CURRENT ASSETS

Debtors

218,680

74,808

Cash at bank

61,037

83,498

279,717

158,306

CREDITORS

Amounts falling due within one year

165,342

54,190

NET CURRENT ASSETS

114,375

104,116

TOTAL ASSETS LESS CURRENT LIABILITIES

221,780

216,928

PROVISIONS FOR LIABILITIES

4,168

5,697

NET ASSETS

217,612

211,231

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

216,612

210,231

SHAREHOLDERS' FUNDS

217,612

211,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 February 2019 and were signed on its behalf by:

N E Hepburn - Director

1.	STATUTORY INFORMATION

Nigel E Hepburn Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and are

rounded to the nearest £1.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

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.

Investments

No depreciation is provided on the classic cars owned by the company as they will be maintained to a standard

whereby their market value will not decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

80,265

Additions

374

Disposals

(2,500

)

At 31 May 2018

78,139

DEPRECIATION

At 1 June 2017

40,655

Charge for year

7,590

Eliminated on disposal

(900

)

At 31 May 2018

47,345

NET BOOK VALUE

At 31 May 2018

30,794

At 31 May 2017

39,610

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.5.18

31.5.17

£

£

Classic cars

73,202

70,441

Classic cars additions

3,409

2,761

76,611

73,202

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2018 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Waters & Atkinson

The Old Court House

Clark Street

Morecambe

Lancashire

LA4 5HR

Date: .............................................