Frank Hedges (Steel) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07002925 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2014

for

Frank Hedges (Steel) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTOR:

S J Childs

REGISTERED OFFICE:

9-11 New Road

Bromsgrove

Worcestershire

B60 2JF

REGISTERED NUMBER:

07002925 (England and Wales)

ACCOUNTANTS:

Kenneth Morris Limited

11 New Road

Bromsgrove

Worcestershire

B60 2JF

FIXED ASSETS

Tangible assets

2

1,048

1,413

CURRENT ASSETS

Stocks

1,970

2,045

Debtors

24,051

11,200

Cash at bank

17,510

12,235

43,531

25,480

CREDITORS

Amounts falling due within one year

26,470

20,803

NET CURRENT ASSETS

17,061

4,677

TOTAL ASSETS LESS CURRENT LIABILITIES

18,109

6,090

PROVISIONS FOR LIABILITIES

210

283

NET ASSETS

17,899

5,807

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

17,898

5,806

SHAREHOLDERS' FUNDS

17,899

5,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 9 February 2015 and were signed by:

S J Childs - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about Frank Hedges (Steel) Limited as an individual company.

The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. Deferred tax is recognised in respect of all

timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets are only

recognised where it is considered more likely than not that future profits will be available for offset. Deferred tax

is measured on a non-discounted basis at the average tax rates that would apply in the periods in which the timing

differences are expected to reverse, based on the tax rates and laws that have been enacted by the balance sheet

date.

Debtors

Debtors include the contractual value of work in progress.

Operating leases

The relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term,

unless they relate to vacant leasehold properties, in which case provision is made on a discounted basis for the

net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar

charges.

Where no lease is in place, the rentals are charged to the profit and loss account as and when paid.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

and 31 August 2014

4,333

DEPRECIATION

At 1 September 2013

2,920

Charge for year

365

At 31 August 2014

3,285

NET BOOK VALUE

At 31 August 2014

1,048

At 31 August 2013

1,413

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.14

31.8.13

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2014 and

31 August 2013:

31.8.14

31.8.13

£

£

S J Childs

Balance outstanding at start of year

-

-

Amounts advanced

2,327

1,884

Amounts repaid

(2,327

)

(1,884

)

Balance outstanding at end of year

-

-

The above amounts represent the aggregate movements during the year rather than each individual transaction.

The amounts not in brackets are due to the company. The loan is interest free and repayable on demand.

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

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Frank Hedges (Steel) Limited for the year ended 31 August 2014 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Frank Hedges (Steel) Limited in accordance with our terms of engagement.

Our work has been undertaken solely to prepare for your approval the financial statements of Frank Hedges (Steel)

Limited and state those matters that we have agreed to state to the director of Frank Hedges (Steel) Limited in this report

in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Frank Hedges (Steel) Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Frank Hedges

(Steel) Limited. You consider that Frank Hedges (Steel) Limited 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 financial statements of Frank Hedges (Steel)

Limited. 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 financial statements.

Kenneth Morris Limited

11 New Road

Bromsgrove

Worcestershire

B60 2JF

9 February 2015