H R W Contracting Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02949215 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st August 2015

for

H R W Contracting Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

H R Williams

SECRETARY:

Mrs A B Williams

REGISTERED OFFICE:

Unit 19 Betws Park Workshops

Betws

Ammanford

Carmarthenshire

SA18 2ET

REGISTERED NUMBER:

02949215 (England and Wales)

ACCOUNTANTS:

Ashmole & Co

Chartered Certified Accountants

Castle House

High Street

Ammanford

Carmarthenshire

SA18 2NB

FIXED ASSETS

Tangible assets

2

51,464

70,759

CURRENT ASSETS

Stocks

1,767,130

1,826,060

Debtors

8,344

11,256

Cash in hand

200

1,775,674

1,837,516

CREDITORS

Amounts falling due within one year

3

465,794

505,100

NET CURRENT ASSETS

1,309,880

1,332,416

TOTAL ASSETS LESS CURRENT LIABILITIES

1,361,344

1,403,175

CREDITORS

Amounts falling due after more than
one year

(1,055,636

)

(1,148,362

)

ACCRUALS AND DEFERRED INCOME

(2,207

)

-

NET ASSETS

303,501

254,813

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

303,499

254,811

SHAREHOLDERS' FUNDS

303,501

254,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 30th March 2016 and were signed by:

H R Williams - Director

1.	ACCOUNTING POLICIES

Accounting convention

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued by the company's director at the lower of cost and net realisable value.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st September 2014

599,033

Additions

3,305

Disposals

(10,250

)

At 31st August 2015

592,088

DEPRECIATION

At 1st September 2014

528,274

Charge for year

22,600

Eliminated on disposal

(10,250

)

At 31st August 2015

540,624

NET BOOK VALUE

At 31st August 2015

51,464

At 31st August 2014

70,759

3.

CREDITORS

Creditors include an amount of £ 176,386 (31.8.14 - £ 159,676 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

2

Ordinary

£1

2

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed to its director and secretary the sum of £865,734

(2014: £951,937).