Hadfield Design & Build Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09343897 (England and Wales)

HADFIELD DESIGN & BUILD LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Abridged Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

Mrs V K Hadfield

Mr D S Hadfield

SECRETARY:

Mrs V Hadfield

REGISTERED OFFICE:

2 The Barley Close

Butts Road

Ashover

Chesterfield

Derbyshire

S45 0AY

REGISTERED NUMBER:

09343897 (England and Wales)

ACCOUNTANTS:

The Rees Partnership

Bentley Bridge House

Chesterfield Road

Matlock

Derbyshire

DE4 5LE

BANKERS:

Nat West

PO Box 5479

1 Spinningfields Square

Manchester

M61 0NH

FIXED ASSETS

Tangible assets

4

3,125

3,439

CURRENT ASSETS

Stocks

21,952

19,543

Debtors

61,934

42,625

Cash at bank and in hand

139,191

52,714

223,077

114,882

CREDITORS

Amounts falling due within one year

(119,506

)

(116,117

)

NET CURRENT ASSETS/(LIABILITIES)

103,571

(1,235

)

TOTAL ASSETS LESS CURRENT LIABILITIES

106,696

2,204

PROVISIONS FOR LIABILITIES

(229

)

-

NET ASSETS

106,467

2,204

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

106,367

2,104

SHAREHOLDERS' FUNDS

106,467

2,204

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

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2021 and were signed on its behalf by:

Mr D S Hadfield - Director

Mrs V K Hadfield - Director

1.	STATUTORY INFORMATION

Hadfield Design & Build 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 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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & loss account, 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.

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on as incurred over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

5,470

Additions

493

At 31 March 2020

5,963

DEPRECIATION

At 1 April 2019

2,031

Charge for year

807

At 31 March 2020

2,838

NET BOOK VALUE

At 31 March 2020

3,125

At 31 March 2019

3,439

5.	RELATED PARTY DISCLOSURES

There have been no material transactions with any related parties including directors.

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, by virtue of their shareholdings.