Hillcrest Structural Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01625831

HILLCREST STRUCTURAL LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

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

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

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 Hillcrest Structural Limited for the year ended 31 March 2015 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 Board of Directors of Hillcrest Structural Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hillcrest Structural Limited and state those matters that we have agreed to state to the Board of Directors of Hillcrest Structural Limited, as a body, 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 Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hillcrest Structural 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 Hillcrest Structural Limited. You consider that Hillcrest Structural 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 Hillcrest Structural 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.

Rothman Pantall LLP

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

14 July 2015

Page

Chartered Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

FIXED ASSETS

Tangible assets

2

79,203

80,347

CURRENT ASSETS

Stocks

138,248

63,387

Debtors

2,094,672

2,027,613

Cash at bank

51,762

144

2,284,682

2,091,144

CREDITORS

Amounts falling due within one year

3

1,669,104

1,508,012

NET CURRENT ASSETS

615,578

583,132

TOTAL ASSETS LESS CURRENT LIABILITIES

694,781

663,479

CREDITORS

Amounts falling due after more than one year

3

3,058

7,600

NET ASSETS

691,723

655,879

CAPITAL AND RESERVES

Called up share capital

4

375

375

Share premium

69,860

69,860

Capital redemption reserve

295

295

Profit and loss account

621,193

585,349

SHAREHOLDERS' FUNDS

691,723

655,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 14 July 2015 and were signed on its behalf by:

Mr J L Green - Director

Mrs M J Alcock - Director

1.	ACCOUNTING POLICIES

Basis of accounting

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 the fair value of work carried out on construction contracts performed during the year on

behalf of customers. Contract revenue and expenses are recognised in proportion to the stage of completion of

the contract as soon as the outcome of a construction contract can be estimated reliably.

Where it is probable that a loss will arise on a contract, full provision for the loss is made.

Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the costs less residual value of each asset over its

expected useful life, as follows:

Leasehold property

10% on cost

Plant and machinery

15% reducing balance

Fixtures, fittings and equipment

33% on cost

Motor vehicles

33% reducing balance

Stocks

Stock 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.

Taxation

The charge for taxation is based on the profit for the year and takes into account taxation deferred.

Current tax is measured at amounts expected to be paid using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax is provided in full on temporary differences which arise between the carrying value of an asset or

liability and its tax base. Deferred tax assets are recognised to the extent that it is probable that there will be

sufficient profits in the future to enable the assets to be utilised. Deferred tax assets and liabilities are not

discounted.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all risks and

rewards of ownership to the lessee. All other leases are classified as operating leases.

Finance leases are capitalised at the inception of the lease at the fair value of the leased asset or, if lower, at the

present value of the minimum lease payments. Lease payments are apportioned between the finance charges

and the reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the

liability. Finance charges are reflected in the profit and loss account.

Operating lease payments are recognised as an expense in the profit and loss account on a straight-line basis

over the lease term.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised

when paid. Final equity dividends are recognised when approved by the shareholders at an annual general

meeting.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

252,443

Additions

23,708

At 31 March 2015

276,151

DEPRECIATION

At 1 April 2014

172,096

Charge for year

24,852

At 31 March 2015

196,948

NET BOOK VALUE

At 31 March 2015

79,203

At 31 March 2014

80,347

3.

CREDITORS

Creditors include an amount of £ 7,600 (2014 - £ 43,267 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

375

Ordinary

£1

375

375

5.	ULTIMATE PARENT COMPANY

Hillcrest Structural Holdings Limited is regarded by the directors as being the company's ultimate parent

company.

Copies of the financial statements of Hillcrest Structural Holdings Limited can be obtained from the Registrar of

Companies.