H. & W. Sellors Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00657528 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st December 2014

for

H. & W. Sellors Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

M.J. Sellors

H. Sellors

SECRETARY:

H. Sellors

REGISTERED OFFICE:

Milford Works

Milford

Bakewell

Derbyshire

DE45 1DX

REGISTERED NUMBER:

00657528 (England and Wales)

ACCOUNTANTS:

C.J. Lansdown & Co.

Chartered Accountants

Sheffield

FIXED ASSETS

Tangible assets

2

28,864

31,242

CURRENT ASSETS

Stocks

158,660

100,444

Debtors

178,636

101,740

Cash in hand

100

20

337,396

202,204

CREDITORS

Amounts falling due within one year

382,480

266,582

NET CURRENT LIABILITIES

(45,084

)

(64,378

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,220

)

(33,136

)

CREDITORS

Amounts falling due after more than one year

197,407

232,919

NET LIABILITIES

(213,627

)

(266,055

)

CAPITAL AND RESERVES

Called up share capital

3

5,000

5,000

Profit and loss account

(218,627

)

(271,055

)

SHAREHOLDERS' FUNDS

(213,627

)

(266,055

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 25th September 2015 and were signed on its behalf by:

M.J. Sellors - Director

1.	ACCOUNTING POLICIES

Accounting policies

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 accounts.

Basis of preparation of financial statements

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.

Yard buildings

-

5% on reducing balance

Plant and equipment

-

15% on reducing balance

Office equipment

-

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 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.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2014

150,739

Additions

344

At 31st December 2014

151,083

DEPRECIATION

At 1st January 2014

119,497

Charge for year

2,722

At 31st December 2014

122,219

NET BOOK VALUE

At 31st December 2014

28,864

At 31st December 2013

31,242

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

5,000

Ordinary shares

£1

5,000

5,000

4.	SECURITY FOR LOANS TO THE COMPANY

The Royal Bank of Scotland plc holds the following as security for the company's loan account and overdrawn

current account balance of £49,573 and £28,418 respectively. ( 2013 £56,285 and

£33,768) A legal charge over the Old Veterinary Building , Stonebrook and the builders' yard. All these

properties are at Milford, Bakewell.

5.	RELATED PARTY TRANSACTIONS AND GUARANTEES

Mr M.J. Sellors and Mrs H. Sellors, directors of the company have provided personal guarantees as security for

the monies borrowed from the bank. They have considered these accounts and remain willing to give their

support to the company.

The directors' loan accounts are overdrawn as follows:-

M.J. Sellors £55,581 ( 2013 £27,846 )

H. Sellors £55,581 ( 2013 £27,846)

6.	CONTROLLING INTERESTS

Mr M.J. Sellors and Mrs H. Sellors who are directors of the company each have title to 50% of the share capital

of the company.

7.	GOING CONCERN

The company entered into a Company Voluntary Arrangement in accordance with Part 1 of the Insolvency Rules

1986 on 5th January 2012 and this arrangement has continued throughout the year.

The company has managed to create profits and the directors are of the opinion that the company will trade

profitably in the future.

The directors willingly give their support to the company and to the arrangement.

No adjustment has been made in these accounts to reflect any future write backs of the liabilities which entered

the arrangement.

On the basis of this information the accounts have been prepared on a going concern basis.

8.	BALANCE OF ASSETS DUE ON COMPANY VOLUNTARY ARRANGEMENT

All assets and liabilities of the company are included within the Company Voluntary Arrangement and are held

on trust for the benefit of the arrangement.