Symonds & Co (Hereford) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00543030 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2020

for

Symonds & Co (Hereford) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M J Pascoe

R J Fowler

P J Fowler

SECRETARY:

P J Fowler

REGISTERED OFFICE:

8 Portland Street

Hereford

HR4 9JE

REGISTERED NUMBER:

00543030 (England and Wales)

ACCOUNTANTS:

Thorne Widgery Accountancy Ltd

Chartered Accountants

2 Wyevale Business Park

Kings Acre

Hereford

Herefordshire

HR4 7BS

FIXED ASSETS

Tangible assets

4

1,071,225

1,076,224

Investments

5

45,000

45,000

1,116,225

1,121,224

CURRENT ASSETS

Stocks

-

12,752

Debtors

6

2,377

2,823

Cash in hand

-

91

2,377

15,666

CREDITORS

Amounts falling due within one year

7

(407,929

)

(425,470

)

NET CURRENT LIABILITIES

(405,552

)

(409,804

)

TOTAL ASSETS LESS CURRENT LIABILITIES

710,673

711,420

CREDITORS

Amounts falling due after more than one year

8

(405,905

)

(434,631

)

PROVISIONS FOR LIABILITIES

(5,328

)

(6,278

)

NET ASSETS

299,440

270,511

CAPITAL AND RESERVES

Called up share capital

21,000

21,000

Capital redemption reserve

5,716

5,716

Special reserve

4,000

4,000

Retained earnings

268,724

239,795

299,440

270,511

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 1 May 2020 and were signed on its behalf by:

R J Fowler - Director

P J Fowler - Director

1.	STATUTORY INFORMATION

Symonds & Co (Hereford) 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.

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.

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

Short leasehold

-

Over the life of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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

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.

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 4 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 February 2019

1,043,182

4,500

35,576

Additions

-

-

2,440

Disposals

-

-

(623

)

At 31 January 2020

1,043,182

4,500

37,393

DEPRECIATION

At 1 February 2019

-

4,500

26,218

Charge for year

-

-

1,728

Eliminated on disposal

-

-

(347

)

At 31 January 2020

-

4,500

27,599

NET BOOK VALUE

At 31 January 2020

1,043,182

-

9,794

At 31 January 2019

1,043,182

-

9,358

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2019

25,938

24,494

1,564

1,135,254

Additions

-

-

-

2,440

Disposals

-

(12,739

)

-

(13,362

)

At 31 January 2020

25,938

11,755

1,564

1,124,332

DEPRECIATION

At 1 February 2019

21,080

6,124

1,108

59,030

Charge for year

729

4,592

114

7,163

Eliminated on disposal

-

(12,739

)

-

(13,086

)

At 31 January 2020

21,809

(2,023

)

1,222

53,107

NET BOOK VALUE

At 31 January 2020

4,129

13,778

342

1,071,225

At 31 January 2019

4,858

18,370

456

1,076,224

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

Motor

vehicles

£

COST

At 1 February 2019

and 31 January 2020

24,494

DEPRECIATION

At 1 February 2019

6,124

Charge for year

4,592

At 31 January 2020

10,716

NET BOOK VALUE

At 31 January 2020

13,778

At 31 January 2019

18,370

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2019

and 31 January 2020

45,000

NET BOOK VALUE

At 31 January 2020

45,000

At 31 January 2019

45,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

859

1,601

Other debtors

1,518

1,222

2,377

2,823

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Bank loans and overdrafts

91,249

96,583

Hire purchase contracts

3,707

3,435

Trade creditors

-

14,158

Amounts owed to group undertakings

54,535

53,535

Taxation and social security

7,789

2,973

Other creditors

250,649

254,786

407,929

425,470

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.20

31.1.19

£

£

Bank loans

395,065

420,084

Hire purchase contracts

10,840

14,547

405,905

434,631