HYS (Holdings) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03007521

HYS (HOLDINGS) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

Mr R M Bicket

Mr T J Yetman

Mr N G Griffith

Mr S J Tate

REGISTERED OFFICE:

Hamble Yacht Services

Port Hamble

Satchell Lane

Hamble

Hampshire

SO31 4NN

REGISTERED NUMBER:

03007521

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

FIXED ASSETS

Tangible assets

2

8,935,815

8,843,069

Investments

3

1

477,275

8,935,816

9,320,344

CURRENT ASSETS

Debtors

1,730,531

452

Cash at bank

71,455

-

1,801,986

452

CREDITORS

Amounts falling due within one year

4

3,145,586

3,651,667

NET CURRENT LIABILITIES

(1,343,600

)

(3,651,215

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,592,216

5,669,129

CREDITORS

Amounts falling due after more than one year

4

(4,641,032

)

-

PROVISIONS FOR LIABILITIES

(7,116

)

-

NET ASSETS

2,944,068

5,669,129

CAPITAL AND RESERVES

Called up share capital

5

50,000

300,000

Share premium

-

884,000

Revaluation reserve

2,586,184

4,386,184

Capital redemption reserve

-

189,200

Profit and loss account

307,884

(90,255

)

SHAREHOLDERS' FUNDS

2,944,068

5,669,129

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 6 June 2016 and were signed on its behalf by:

Mr R M Bicket - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Preparation of consolidated financial statements

The financial statements contain information about HYS (Holdings) Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

The turnover shown in the profit and loss account represents rents receivable in respect of the period, exclusive

of Value Added Tax. It includes the relevant proportion of rent receivable for the period, any income in relation to

the next period has been deferred.

Tangible fixed assets

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

Freehold property

-

at varying rates on cost

Long leasehold

-

Over the period of the lease

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 January 2015

8,851,366

Additions

141,658

At 31 December 2015

8,993,024

DEPRECIATION

At 1 January 2015

8,297

Charge for year

48,912

At 31 December 2015

57,209

NET BOOK VALUE

At 31 December 2015

8,935,815

At 31 December 2014

8,843,069

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

477,275

Additions

1

Disposals

(477,275

)

At 31 December 2015

1

NET BOOK VALUE

At 31 December 2015

1

At 31 December 2014

477,275

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Hamble Yacht Services Limited

Nature of business: Boat movement and storage

%

Class of shares:

holding

Ordinary

100.00

2015

£

Aggregate capital and reserves

42,116

Profit for the year

142,116

4.

CREDITORS

Creditors include an amount of £ 4,896,714 for which security has been given.

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

2015

2014

£

£

Repayable by instalments

3,493,996

-

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

50,000

Ordinary

1

50,000

300,000

On 16 January 2015 the share capital of the company was reduced to £50,000 from £300,000 by way of a

capital demerger as part of the restructure of the Ancasta group.

This transaction resulted in the cancellation of the share premium account and capital redemption reserve, and a

reduction in the revaluation reserve.

6.	ULTIMATE CONTROLLING PARTY

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 two to six)

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 HYS (Holdings) Limited for the year ended 31 December 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of HYS (Holdings) 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 HYS (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of HYS (Holdings) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. 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 HYS (Holdings) 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 HYS (Holdings) Limited. You consider that HYS (Holdings) 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 HYS (Holdings) 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.

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

9 June 2016