Hi-Tech Machinery Limited - Abbreviated accounts 16.1

Abbreviated Accounts for the Year Ended 31 December 2015

for

Hi-Tech Machinery Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

A M Havord

SECRETARY:

C A Havord

REGISTERED OFFICE:

2 Fosters Business Park

Old School Road

Hook

Hampshire

RG27 9NY

REGISTERED NUMBER:

02056384 (England and Wales)

ACCOUNTANTS:

CSL Partnership Limited

Chartered Certified Accountants

39 Chobham Road

Woking

Surrey

GU21 6JD

FIXED ASSETS

Tangible assets

2

16,134

6,847

CURRENT ASSETS

Stocks

68,059

70,983

Debtors

90,265

80,867

Cash at bank and in hand

344,346

456,308

502,670

608,158

CREDITORS

Amounts falling due within one year

185,853

131,467

NET CURRENT ASSETS

316,817

476,691

TOTAL ASSETS LESS CURRENT LIABILITIES

332,951

483,538

CAPITAL AND RESERVES

Called up share capital

3

20

20

Profit and loss account

332,931

483,518

SHAREHOLDERS' FUNDS

332,951

483,538

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 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 19 May 2016 and were signed by:

A M Havord - 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 comprises revenue recognised by the company in respect of goods and services supplied

during the year, exclusive of Value Added Tax and trade discounts.

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

-

20% on cost

Fixtures and fittings

-

30% on cost

Motor vehicles

-

25% on cost

Office equipment

-

30% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

115,048

Additions

17,000

Disposals

(6,000

)

At 31 December 2015

126,048

DEPRECIATION

At 1 January 2015

108,201

Charge for year

3,713

Eliminated on disposal

(2,000

)

At 31 December 2015

109,914

NET BOOK VALUE

At 31 December 2015

16,134

At 31 December 2014

6,847

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

20

Ordinary

20

20