Hughes Exploration And Environmental Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 03153115 (England and Wales)

HUGHES EXPLORATION AND ENVIRONMENTAL

LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

Chartered Certified Accountants' Report

4

FIXED ASSETS

Tangible assets

2

160,620

185,034

CURRENT ASSETS

Debtors

229,773

65,062

Cash at bank and in hand

845

248

230,618

65,310

CREDITORS

Amounts falling due within one year

3

276,932

163,621

NET CURRENT LIABILITIES

(46,314

)

(98,311

)

TOTAL ASSETS LESS CURRENT LIABILITIES

114,306

86,723

CREDITORS

Amounts falling due after more than one year

3

(98,625

)

(149,688

)

PROVISIONS FOR LIABILITIES

(7,656

)

-

NET ASSETS/(LIABILITIES)

8,025

(62,965

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

8,023

(62,967

)

SHAREHOLDERS' FUNDS

8,025

(62,965

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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 26 May 2016 and were signed on its behalf by:

P M G Hughes - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance and 15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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

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

period of the lease.

Pensions

The company operates a defined contribution pension scheme. Contributions payable for the year are charged in

the profit and loss account.

Debt factoring

The company factors its sales, and a separate presentation is adopted. A gross asset (equivalent in amount to

the gross amount of the debts) is shown on the balance sheet within assets and a corresponding liability in

respect of the proceeds received from the factor is shown within liabilities. The interest element of the factor’s

charges and other factoring costs are recognised as they accrue and included in the profit and loss account with

other interest charges.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

436,255

Additions

9,120

Disposals

(8,193

)

At 31 August 2015

437,182

DEPRECIATION

At 1 September 2014

251,221

Charge for year

32,633

Eliminated on disposal

(7,292

)

At 31 August 2015

276,562

NET BOOK VALUE

At 31 August 2015

160,620

At 31 August 2014

185,034

3.

CREDITORS

Creditors include an amount of £ 252,116 (2014 - £ 216,907 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

6,421

13,702

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages one to three)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Hughes Exploration And Environmental Limited for the year ended 31 August 2015 which

comprise the Profit and Loss Account, the Balance Sheet, and the related notes 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/rulebook.

This report is made solely to the Board of Directors of Hughes Exploration And Environmental Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hughes Exploration And Environmental Limited and state those matters that we have agreed to state to the Board of Directors of Hughes Exploration And Environmental Limited, 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hughes Exploration And Environmental Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hughes Exploration And Environmental Limited. You consider that Hughes Exploration And Environmental 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 financial statements of Hughes Exploration And Environmental 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 financial statements.

JCWallace & Co

Chartered Certified Accountants

1875 Great Western Road

Glasgow

G13 2YD

26 May 2016