Handfield Ltd - Period Ending 2015-12-31

Registration number: 02146409

Handfield Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Chartered Accountants

Handfield Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Handfield Ltd
(Registration number: 02146409)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £						2014 £
	£			£			£			£
Fixed assets
Tangible fixed assets								46						61
Current assets
Stocks					160,046						160,046
Debtors					395						5,917
Cash at bank and in hand					1,772						1,447
					162,213						167,410
Creditors: Amounts falling due within one year					(106,035)						(105,901)
Net current assets								56,178						61,509
Total assets less current liabilities								56,224						61,570
Creditors: Amounts falling due after more than one year								(80,924)						(87,709)
Net liabilities								(24,700)						(26,139)
Capital and reserves
Called up share capital		3			100						100
Profit and loss account					(24,800)						(26,239)
Shareholders' deficit								(24,700)						(26,139)

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Handfield Ltd
(Registration number: 02146409)
Abbreviated Balance Sheet at 31 December 2015
......... continued

For the year ending 31 December 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 16 March 2016 and signed on its behalf by:

.........................................
Mr B Whitfield
Director

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

Handfield Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

Turnover

Turnover represents amounts chargeable 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
Fixtures and fittings	15% 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.

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.

Page 3

Handfield Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		1,961			1,961
At 31 December 2015		1,961			1,961
Depreciation
At 1 January 2015		1,900			1,900
Charge for the year		15			15
At 31 December 2015		1,915			1,915
Net book value
At 31 December 2015		46			46
At 31 December 2014		61			61

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4