Hinkins Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05624459

HINKINS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2018

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

5

Directors:

R P Hinkins

Mrs P A Hinkins

P Hinkins

J K Hinkins

Registered office:

Town Wall House

Balkerne Hill

Colchester

Essex

C03 3AD

Registered number:

05624459

Fixed assets

Property, plant and equipment

4

13,472

14,489

Current assets

Stocks

760

760

Cash at bank and in hand

79,251

56,187

80,011

56,947

Creditors

Amounts falling due within one year

5

(35,935

)

(31,875

)

Net current assets

44,076

25,072

Total assets less current liabilities

57,548

39,561

Provisions for liabilities

(2,160

)

(2,384

)

Net assets

55,388

37,177

Capital and reserves

Called up share capital

4

4

Retained earnings

55,384

37,173

Shareholders' funds

55,388

37,177

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 22 August 2019 and were signed on its behalf by:

R P Hinkins - Director

1.	Statutory information

Hinkins Limited is a private company, limited by shares , registered in Not specified/Other. The company's

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

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Depreciation

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 7 (2017 - 9 ) .

4.	Property, plant and equipment

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 January 2018

20,115

6,719

26,834

Additions

1,363

-

1,363

At 31 December 2018

21,478

6,719

28,197

Depreciation

At 1 January 2018

8,891

3,454

12,345

Charge for year

1,890

490

2,380

At 31 December 2018

10,781

3,944

14,725

Net book value

At 31 December 2018

10,697

2,775

13,472

At 31 December 2017

11,224

3,265

14,489

5.

Creditors: amounts falling due within one year

2018

2017

£

£

Corporation tax

17,954

13,877

Social security and other taxes

92

579

VAT

12,190

11,449

Other creditors

2,224

2,909

Directors' current accounts

1,026

698

Accruals and deferred income

2,449

2,363

35,935

31,875