Company Registration No. 4771057 (England and Wales)
Hobarts Laser Supplies Limited
Unaudited accounts
for the year ended 31 December 2020
Hobarts Laser Supplies Limited
Unaudited accounts
Contents
Hobarts Laser Supplies Limited
Company Information
for the year ended 31 December 2020
Company Number
4771057 (England and Wales)
Registered Office
16 Stirling Park
Laker Road
Rochester Airport Estate
Rochester
ME1 3QR
Accountants
Evenstone Ltd
Boston House
Downsview Road
Wantage
Oxfordshire
OX12 9FF
Hobarts Laser Supplies Limited
Statement of financial position
as at 31 December 2020
Tangible assets
17,917
6,167
Inventories
92,925
104,108
Cash at bank and in hand
239,390
127,668
Creditors: amounts falling due within one year
(272,809)
(186,198)
Net current assets
249,428
180,765
Total assets less current liabilities
267,345
186,932
Creditors: amounts falling due after more than one year
(81,818)
(13,218)
Net assets
185,527
173,714
Called up share capital
123
123
Profit and loss account
185,404
173,591
Shareholders' funds
185,527
173,714
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 August 2021 and were signed on its behalf by
Gavin Wright
Director
Company Registration No. 4771057
Hobarts Laser Supplies Limited
Notes to the Accounts
for the year ended 31 December 2020
Hobarts Laser Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 4771057. The registered office is 16 Stirling Park, Laker Road, Rochester Airport Estate, Rochester, ME1 3QR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25% reducing balance
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised 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 rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Hobarts Laser Supplies Limited
Notes to the Accounts
for the year ended 31 December 2020
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2020
5,555
32,862
8,995
47,412
Additions
-
17,723
-
17,723
At 31 December 2020
5,555
50,585
8,995
65,135
At 1 January 2020
5,321
27,919
8,005
41,245
Charge for the year
58
5,666
249
5,973
At 31 December 2020
5,379
33,585
8,254
47,218
At 31 December 2020
176
17,000
741
17,917
At 31 December 2019
234
4,943
990
6,167
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Debtors: amounts falling due within one year
2020
2019
Trade debtors
83,371
15,883
Accrued income and prepayments
13,256
2,841
Other debtors
93,295
116,463
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Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
18,182
1,517
Trade creditors
131,497
102,689
Taxes and social security
90,822
54,651
Other creditors
15,592
10,625
Loans from directors
16,716
16,716
7
Creditors: amounts falling due after more than one year
2020
2019
8
Transactions with related parties
As at the year end date one of the company's shareholders, who is also an employee, owed the company £36,067. Interest is charged on this loan at the official rate of interest and the amount is repayable on demand. A repayment plan is in place to repay this loan in full.
Hobarts Laser Supplies Limited
Notes to the Accounts
for the year ended 31 December 2020
9
Average number of employees
During the year the average number of employees was 12 (2019: 12).
