Hart's Haulage Limited - Period Ending 2015-02-28

Registration number: 04766374

Hart's Haulage Limited

Unaudited Abbreviated Accounts

for the Year Ended 28 February 2015
 

Crest Accountants LLP
Certified Accountants
Unit 3a, Carn Brea Business Park
Wilson Way
Redruth
Cornwall
TR15 3RR

Hart's Haulage Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Hart's Haulage Limited
for the Year Ended 28 February 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hart's Haulage Limited for the year ended 28 February 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Hart's Haulage Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hart's Haulage Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hart's Haulage Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hart's Haulage Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hart's Haulage Limited. You consider that Hart's Haulage 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 accounts of Hart's Haulage 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 accounts.

......................................

Crest Accountants LLP
Certified Accountants
Unit 3a, Carn Brea Business Park
Wilson Way
Redruth
Cornwall
TR15 3RR

26 October 2015

Page 1

Hart's Haulage Limited
(Registration number: 04766374)
Abbreviated Balance Sheet at 28 February 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					1,867,593			1,752,350
Current assets
Stocks					1,000			1,000
Debtors					435,754			595,469
Cash at bank and in hand					158,243			189,786
					594,997			786,255
Creditors: Amounts falling due within one year					(448,669)			(1,014,151)
Net current assets/(liabilities)					146,328			(227,896)
Total assets less current liabilities					2,013,921			1,524,454
Creditors: Amounts falling due after more than one year					(372,798)			(314,623)
Net assets					1,641,123			1,209,831
Capital and reserves
Called up share capital		3			1,002			1,002
Profit and loss account					1,640,121			1,208,829
Shareholders' funds					1,641,123			1,209,831

For the year ending 28 February 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 26 October 2015

.........................................
Mr Richard Neil HART
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Hart's Haulage Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is calculated to write the asset off over its usefull life

Asset class	Depreciation method and rate
Plant & Machinery	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance
Motor Vehilces	25% Reducing Balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation 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. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Hart's Haulage Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2014		2,721,002			2,721,002
Additions		657,711			657,711
Disposals		(510,315)			(510,315)
At 28 February 2015		2,868,398			2,868,398
Depreciation
At 1 March 2014		968,652			968,652
Charge for the year		262,193			262,193
Eliminated on disposals		(230,040)			(230,040)
At 28 February 2015		1,000,805			1,000,805
Net book value
At 28 February 2015		1,867,593			1,867,593
At 28 February 2014		1,752,350			1,752,350

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000
A Ordinary of £1 each		2			2			2			2
		1,002			1,002			1,002			1,002

Page 4