Devon & Cornwall Hire Limited - Period Ending 2016-04-30

Registration number: 06762309

Devon & Cornwall Hire Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Condy Mathias
Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Devon & Cornwall Hire Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Devon & Cornwall Hire Limited
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Devon & Cornwall Hire Limited for the year ended 30 April 2016 set out on pages 4 to 8 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Devon & Cornwall Hire 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 Devon & Cornwall Hire Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Devon & Cornwall Hire Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Devon & Cornwall Hire 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 Devon & Cornwall Hire Limited. You consider that Devon & Cornwall Hire 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 Devon & Cornwall Hire 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.

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

Condy Mathias
Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

16 January 2017

Page 1

Devon & Cornwall Hire Limited
(Registration number: 06762309)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			33,502			16,487
Current assets
Cash at bank and in hand					2,236			4,672
Creditors: Amounts falling due within one year					(38,407)			(30,281)
Net current liabilities					(36,171)			(25,609)
Net liabilities					(2,669)			(9,122)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(2,670)			(9,123)
Shareholders' deficit					(2,669)			(9,122)

For the year ending 30 April 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 director acknowledges his 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 director on 11 January 2017

.........................................
Mr I C Walker
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Devon & Cornwall Hire Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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).

Going concern

As at the year end the company's balance sheet shows net current liabilities of £36,171 (2015: £25,609) and an overall deficiency of assets amounting to £2,669 (2015: £9,122). Accordingly, the director has had to consider the basis upon which the accounts should be prepared and determine whether a going concern basis remains appropriate. The accounts have been prepared on a going concern basis, as the director continues to provide financial support, when necessary to the company. The director has also reviewed the position for twelve months from the date the accounts were approved and in his opinion the company will reduce the balance sheet deficiency and show positive results for the next financial period.

Turnover

Turnover represents amounts chargeable 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
Caravans	20% Reducing balance
Boat	20% Reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Devon & Cornwall Hire Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		28,139			28,139
Additions		25,390			25,390
At 30 April 2016		53,529			53,529
Depreciation
At 1 May 2015		11,652			11,652
Charge for the year		8,375			8,375
At 30 April 2016		20,027			20,027
Net book value
At 30 April 2016		33,502			33,502
At 30 April 2015		16,487			16,487

3	Share capital

Allotted, called up and fully paid shares

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

Page 4