K.E. Hibberd Limited
Unaudited Abbreviated Accounts
For the year ended 31 March 2016
Company Registration No. 02324507 (England and Wales)
K.E. Hibberd Limited
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
K.E. Hibberd Limited
Abbreviated Balance Sheet
As at 31 March 2016
Page 1
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
500,000
450,021
Current assets
Cash at bank and in hand
850
612
Creditors: amounts falling due within one year
(15,305)
(15,728)
Net current liabilities
(14,455)
(15,116)
Total assets less current liabilities
485,545
434,905
Capital and reserves
Called up share capital
3
100
100
Share premium account
145,514
145,514
Revaluation reserve
291,662
241,662
Profit and loss account
48,269
47,629
Shareholders' funds
485,545
434,905
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 7 November 2016
K E Hibberd
Director
Company Registration No. 02324507
K.E. Hibberd Limited
Notes to the Abbreviated Accounts
For the year ended 31 March 2016
Page 2
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents rental income received from the company's investment property. Turnover is attributable to the one principal activity of the company which arose wholly in the United Kingdom.
1.4
Tangible fixed assets and depreciation
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified. Depreciation has been charged on other tangible fixed assets at the following rate:
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Depreciation has been charged on other tangible fixed assets at the following rate:
Computer equipment
25% straight line
1.5
Deferred taxation
In accordance with the Financial Reporting Standard for Smaller Entities, deferred tax is recognised as a liability or asset if transactions or events that give the company the obligation to pay more tax in future or a right to pay less tax in future have occurred by the balance sheet date.
K.E. Hibberd Limited
Notes to the Abbreviated Accounts (Continued)
For the year ended 31 March 2016
Page 3
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2015
450,885
Revaluation
50,000
At 31 March 2016
500,885
Depreciation
At 1 April 2015
864
Charge for the year
21
At 31 March 2016
885
Net book value
At 31 March 2016
500,000
At 31 March 2015
450,021
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Control
The controlling party is Mr K. E. Hibberd by virtue of him owning the majority of the issued share capital of the company.
5
Related party relationships and transactions
During the year dividends totalling £12,000 (2015: £12,000) and £8,000 (2015: £8,000) were paid to the directors Mr K.E. Hibberd and Mrs M. Hibberd respectively.
2016-03-312015-04-01falsetruetruetruetruefalsetmpA508.html2016-11-24During the year dividends totalling £12,000 (2015: £12,000) and £8,000 (2015: £8,000) were paid to the directors Mr K.E. Hibberd and Mrs M. Hibberd respectively.During the year dividends totalling £12,000 (2015: £12,000) and £8,000 (2015: £8,000) were paid to the directors Mr K.E. Hibberd and Mrs M. Hibberd respectively.023245072015-04-012016-03-31023245072016-03-31023245072015-03-31023245072015-03-3102324507uk-bus:Director12015-04-012016-03-3102324507uk-gaap:ComputerEquipment2015-04-012016-03-3102324507uk-bus:OrdinaryShareClass12015-04-012016-03-3102324507uk-bus:OrdinaryShareClass12016-03-3102324507uk-bus:OrdinaryShareClass12015-03-31xbrli:purexbrli:sharesiso4217:GBP
