Hanningfield Process Systems Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02791306 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2014

FOR

HANNINGFIELD PROCESS SYSTEMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr C Ellis

Mrs J Ellis

Mr J R A Ellis

SECRETARY:

Mrs J Ellis

REGISTERED OFFICE:

17 Millhead Way

Purdeys Industrial Estate

Rochford

Essex

SS4 1LB

REGISTERED NUMBER:

02791306 (England and Wales)

ACCOUNTANTS:

Cheshams Accountants Ltd

Chartered Certified Accountants

Suite 16,Neals Corner

2 Bath Road

Hounslow

Middlesex

TW3 3HJ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

56,592

49,849

56,592

49,849

CURRENT ASSETS

Stocks

198,800

71,229

Debtors

79,391

197,570

Cash at bank and in hand

6,545

6,797

284,736

275,596

CREDITORS

Amounts falling due within one year

232,348

206,382

NET CURRENT ASSETS

52,388

69,214

TOTAL ASSETS LESS CURRENT LIABILITIES

108,980

119,063

CREDITORS

Amounts falling due after more than one year

-

(3,014

)

PROVISIONS FOR LIABILITIES

(10,190

)

(8,593

)

NET ASSETS

98,790

107,456

CAPITAL AND RESERVES

Called up share capital

4

37,480

37,480

Profit and loss account

61,310

69,976

SHAREHOLDERS' FUNDS

98,790

107,456

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 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 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 Board of Directors on 22 May 2015 and were signed on its behalf by:

Mr C Ellis - 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).

Turnover

Turnover represents net invoiced sales of goods, 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.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

Goodwill

Purchased goodwill is amortised on a straight-line basis over its estimated life of ten years.

Hire purchase and leased assets

Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and

depreciated over their useful lives. The interest element of leasing payments represents a constant proportion of the capital

balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as

operating leases and the payments made under them are charged to profit and loss account on a straight line basis over the

lease term.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

and 31 August 2014

17,528

AMORTISATION

At 1 September 2013

and 31 August 2014

17,528

NET BOOK VALUE

At 31 August 2014

-

At 31 August 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

220,340

Additions

25,606

At 31 August 2014

245,946

DEPRECIATION

At 1 September 2013

170,491

Charge for year

18,863

At 31 August 2014

189,354

NET BOOK VALUE

At 31 August 2014

56,592

At 31 August 2013

49,849

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

37,480

Ordinary

£1.00

37,480

37,480

5.	RELATED PARTY DISCLOSURES