Heaver Trading Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03640040 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

HEAVER TRADING CO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Ellis

Mrs K J Kelly

Mrs M Ellis

K L Kirk

SECRETARY:

Mrs K J Kelly

REGISTERED OFFICE:

Ash Grange

Ash Road

Ash, Sevenoaks

Kent

TN15 7HJ

REGISTERED NUMBER:

03640040 (England and Wales)

ACCOUNTANTS:

Sargeant Partnership

Chartered Accountants

5 White Oak Square

London Road

Swanley

Kent

BR8 7AG

FIXED ASSETS

Tangible assets

4

214,457

211,504

CURRENT ASSETS

Debtors

5

-

8,721

Cash in hand

236

-

236

8,721

CREDITORS

Amounts falling due within one year

6

90,485

78,200

NET CURRENT LIABILITIES

(90,249

)

(69,479

)

TOTAL ASSETS LESS CURRENT LIABILITIES

124,208

142,025

CREDITORS

Amounts falling due after more than one year

7

-

(6,062

)

PROVISIONS FOR LIABILITIES

(6,778

)

(1,725

)

NET ASSETS

117,430

134,238

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

117,428

134,236

SHAREHOLDERS' FUNDS

117,430

134,238

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 16 July 2019 and were signed on its behalf by:

C J Ellis - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover represents rental income of trading units.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Long leasehold

-

4% per annum on cost

Plant and machinery

-

10% per annum on cost

Motor vehicles

-

25% per annum 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Long

to

property

leasehold

property

£

£

£

COST

At 1 November 2017

164,686

45,900

-

Additions

-

-

7,500

At 31 October 2018

164,686

45,900

7,500

DEPRECIATION

At 1 November 2017

-

30,061

-

Charge for year

-

634

750

Eliminated on disposal

-

-

-

At 31 October 2018

-

30,695

750

NET BOOK VALUE

At 31 October 2018

164,686

15,205

6,750

At 31 October 2017

164,686

15,839

-

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 November 2017

35,787

66,480

312,853

Additions

-

6,000

13,500

Disposals

-

(27,230

)

(27,230

)

At 31 October 2018

35,787

45,250

299,123

DEPRECIATION

At 1 November 2017

25,741

45,547

101,349

Charge for year

1,320

6,734

9,438

Eliminated on disposal

-

(26,121

)

(26,121

)

At 31 October 2018

27,061

26,160

84,666

NET BOOK VALUE

At 31 October 2018

8,726

19,090

214,457

At 31 October 2017

10,046

20,933

211,504

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 November 2017

24,250

Additions

6,000

At 31 October 2018

30,250

DEPRECIATION

At 1 November 2017

9,094

Charge for year

1,500

At 31 October 2018

10,594

NET BOOK VALUE

At 31 October 2018

19,656

At 31 October 2017

15,156

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

-

8,721

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

24,517

21,621

Hire purchase contracts

7,642

8,083

Trade creditors

-

2,303

Taxation and social security

14,638

18,282

Other creditors

43,688

27,911

90,485

78,200

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

6,062

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary Shares

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 November 2017

134,236

Profit for the year

32,692

Dividends

(49,500

)

At 31 October 2018

117,428

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed C J Ellis £ £11,356 (2017: £8,720 DR).

During the year the company paid dividends of £49,500 to C J Ellis.

11.	ULTIMATE CONTROLLING PARTY