Paton Hawksley Education Limited - Period Ending 2016-03-31

Registration number: 00642455

Paton Hawksley Education Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Paton Hawksley Education Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Paton Hawksley Education Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Paton Hawksley Education Limited for the year ended 31 March 2016 set out on pages 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 Paton Hawksley Education Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Paton Hawksley Education Limited and state those matters that we have agreed to state to them, 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 Paton Hawksley Education Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Paton Hawksley Education Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Paton Hawksley Education Limited. You consider that Paton Hawksley Education 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 accounts of Paton Hawksley Education 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 accounts.

......................................

Fuller & Roper Limited
Chartered Accountants
The Counting House
Church Farm Business Park
Corston
Bath
BA2 9AP

2 December 2016

Page 1

Paton Hawksley Education Limited
(Registration number: 00642455)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					429,771			344,208
Current assets
Stocks					16,765			15,491
Debtors					25,488			27,649
Cash at bank and in hand					96,093			140,729
					138,346			183,869
Creditors: Amounts falling due within one year					(61,756)			(70,523)
Net current assets					76,590			113,346
Total assets less current liabilities					506,361			457,554
Provisions for liabilities					(14,324)			(5,157)
Net assets					492,037			452,397
Capital and reserves
Called up share capital		3			80			80
Profit and loss account					491,957			452,317
Shareholders' funds					492,037			452,397

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 2 December 2016 and signed on its behalf by:

.........................................
Mr R P Hawksley
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Paton Hawksley Education Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	2% on cost
Investment properties	Not depreciated
Plant and machinery	15% reducing balance
Motor vehicles	25% reducing balance

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Paton Hawksley Education Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		449,944			449,944
Additions		116,494			116,494
At 31 March 2016		566,438			566,438
Depreciation
At 1 April 2015		105,736			105,736
Charge for the year		30,931			30,931
At 31 March 2016		136,667			136,667
Net book value
At 31 March 2016		429,771			429,771
At 31 March 2015		344,208			344,208

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		80			80			80			80

Page 4

Paton Hawksley Education Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

4	Related party transactions

Included within other creditors are balances of £32,432 (2015 - £23,336) owed to Mr RP Hawksley and £31 (2015 - £28) owed to Mr TP Hawksley. These amounts are interest free, unsecured and repayable on demand.

Page 5