Hildreths (China & Hardware) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00891587 (England and Wales)

Hildreths (China & Hardware) Limited

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R W G Hildreth

M Newell

SECRETARY:

J D Codling

REGISTERED OFFICE:

2nd Floor Curzon House

24 High Street

Banstead

Surrey

SM7 2LJ

REGISTERED NUMBER:

00891587 (England and Wales)

ACCOUNTANTS:

Langdon West Williams PLC

Curzon House 2nd Floor

24 High Street

Banstead

Surrey

SM7 2LJ

FIXED ASSETS

Tangible assets

2

3,336,371

3,256,890

CURRENT ASSETS

Stocks

384,282

298,733

Debtors

3

27,342

19,151

Cash at bank and in hand

558,689

132,106

970,313

449,990

CREDITORS

Amounts falling due within one year

4

415,547

389,516

NET CURRENT ASSETS

554,766

60,474

TOTAL ASSETS LESS CURRENT LIABILITIES

3,891,137

3,317,364

CREDITORS

Amounts falling due after more than one year

4

(438,211

)

(465,521

)

PROVISIONS FOR LIABILITIES

(12,350

)

(12,890

)

NET ASSETS

3,440,576

2,838,953

CAPITAL AND RESERVES

Called up share capital

5

689

689

Revaluation reserve

84,117

84,117

Capital redemption reserve

313

313

Profit and loss account

3,355,457

2,753,834

SHAREHOLDERS' FUNDS

3,440,576

2,838,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 13 October 2016 and were signed on its behalf by:

R W G Hildreth - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been in accordance with applicable accounting standards.

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Tangible fixed assets

Freehold land and buildings are retained at their book value. They were last valued on an open market basis by

the director in 1994.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2015

3,615,547

Additions

455,072

Disposals

(346,847

)

At 31 March 2016

3,723,772

DEPRECIATION

At 1 April 2015

358,657

Charge for year

57,544

Eliminated on disposal

(28,800

)

At 31 March 2016

387,401

NET BOOK VALUE

At 31 March 2016

3,336,371

At 31 March 2015

3,256,890

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 2,615 (2015 - £ 4,364 )

4.

CREDITORS

Creditors include an amount of £ 465,517 (2015 - £ 492,726 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

895

Ordinary A

50p

448

448

385

Ordinary B

50p

193

193

95

Ordinary C

50p

48

48

689

689

Dividends may vary from time to time and may be payable on one class of share or any classes of share. The

amount of any dividend is at the discretion of the company

In all other respects all 3 classes of share rank pari passu with each other.