ROBINSONS_OF_HILLSBOROUGH - Accounts

ROBINSONS OF HILLSBOROUGH (FOUR-WHEEL DRIVES) LIMITED - Company Information

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Company Registration No. NI024632 (Northern Ireland)

ROBINSONS OF HILLSBOROUGH (FOUR-WHEEL DRIVES) LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

ROBINSONS OF HILLSBOROUGH (FOUR-WHEEL DRIVES) LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ROBINSONS OF HILLSBOROUGH (FOUR-WHEEL DRIVES) LTD

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

122,246

124,388

Current assets

Stocks

513,462

537,140

Debtors

42,230

79,340

Cash at bank and in hand

101,053

15,503

656,745

631,983

Creditors: amounts falling due within one year

(189,676)

(180,004)

Net current assets

467,069

451,979

Total assets less current liabilities

589,315

576,367

Provisions for liabilities

(2,309)

(2,288)

587,006

574,079

Capital and reserves

Called up share capital

105,367

Profit and loss account

481,639

468,712

Shareholders' funds

587,006

574,079

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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 15 November 2016

Mr. S P Robinson

Director

Company Registration No. NI024632

ROBINSONS OF HILLSBOROUGH (FOUR-WHEEL DRIVES) LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

- 2 -

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) and the UK Statute comprising the companies Act 2006.

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Straight line over 50 years

Plant and machinery

20% Reducing Balance

Fixtures, fittings & equipment

15% Reducing Balance

Motor vehicles

25% Reducing Balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value. Cost is calculated on a first in first out basis. Net realisable value is the amount at which goods can be expected to be realised after all further costs to completion and sale.

1.6

Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

ROBINSONS OF HILLSBOROUGH (FOUR-WHEEL DRIVES) LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 July 2015

213,224

Additions

3,068

At 30 June 2016

216,292

Depreciation

At 1 July 2015

88,835

Charge for the year

5,211

At 30 June 2016

94,046

Net book value

At 30 June 2016

122,246

At 30 June 2015

124,388

Share capital

2016

2015

Allotted, called up and fully paid

105,367 Ordinary of £1 each

105,367

Transactions with directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Amount outstanding

Maximum

2016

2015

in year

Daniel Robinson current account

8,000

20,000