Hills Delivery (Bristol) Limited - Period Ending 2016-03-31

Registration number: 05295680

Hills Delivery (Bristol) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

G W Jones & Co Limited

Hills Delivery (Bristol) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 5) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hills Delivery (Bristol) Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hills Delivery (Bristol) Limited for the year ended 31 March 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://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Hills Delivery (Bristol) 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 Hills Delivery (Bristol) 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://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hills Delivery (Bristol) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hills Delivery (Bristol) 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 Hills Delivery (Bristol) Limited. You consider that Hills Delivery (Bristol) 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 Hills Delivery (Bristol) 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.

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

G W Jones & Co Limited

3 November 2015

Page 1

Hills Delivery (Bristol) Limited
(Registration number: 05295680)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					236,538			289,836
Current assets
Stocks					2,250			-
Debtors					336,115			318,507
Cash at bank and in hand					8,918			10,527
					347,283			329,034
Creditors: Amounts falling due within one year					(398,975)			(398,299)
Net current liabilities					(51,692)			(69,265)
Total assets less current liabilities					184,846			220,571
Creditors: Amounts falling due after more than one year					(24,238)			(55,672)
Provisions for liabilities					(26,850)			(32,259)
Net assets					133,758			132,640
Capital and reserves
Called up share capital		4			150			150
Profit and loss account					133,608			132,490
Shareholders' funds					133,758			132,640

For the year ending 31 March 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 directors acknowledge their 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 Board on 21 October 2015 and signed on its behalf by:

.........................................
L A Waite
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Hills Delivery (Bristol) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 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 provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on reducing balance
Motor vehicles	25% on reducing balance
Property improvements	Not depreciated

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Page 3

Hills Delivery (Bristol) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

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.

Pensions

The company operates a defined contribution pernsion scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		975,871			975,871
Additions		4,167			4,167
Disposals		(16,499)			(16,499)
At 31 March 2015		963,539			963,539
Depreciation
At 1 April 2014		686,035			686,035
Charge for the year		53,514			53,514
Eliminated on disposals		(12,548)			(12,548)
At 31 March 2015		727,001			727,001
Net book value
At 31 March 2015		236,538			236,538
At 31 March 2014		289,836			289,836

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		21,543			37,955
Amounts falling due after more than one year		24,238			55,672
Total secured creditors		45,781			93,627

Page 4

Hills Delivery (Bristol) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary 'A' class shares of £1 each		100			100			100			100
Ordinary 'B' class shares of £1 each		50			50			50			50
		150			150			150			150

5	Related party transactions

At the year end N Hill, a director, owed the company £2,310 (2014 : £107). No interest has been charged on this amount. This balance is included within other debtors.The maximum overdrawn balance during the period was £2,310.
 

At the year end L A Waite, a director, owed the company, £6,185 (2014 : £6,150). No interest has been charged on this amount. This balance is included within other debtors.The maximum overdrawn balance during the period was £6,185.
 

At the year end C Hills, a shareholder, owed / (was owed) by the company, £12,576 (2014 : (£9,954)). No interest has been charged on this amount. This balance is included within other debtors. The maximum overdrawn balance during the period was £12,576.

Page 5