H.D. Collins Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00659223 (England and Wales)

Abbreviated Unaudited Accounts

for the year ended

30th April 2016

for

H.D. Collins Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J B Collins

D J Collins

SECRETARY:

Mr. D J Collins

REGISTERED OFFICE:

Precise Works

Delamare Road

Cheshunt

Hertfordshire

EN8 9TB

REGISTERED NUMBER:

00659223 (England and Wales)

ACCOUNTANTS:

Apple Accounting Services Ltd

Chartered Management Accountants

12b Sun Street

Waltham Abbey

Essex

EN9 1EE

FIXED ASSETS

Tangible assets

2

231,585

237,043

CURRENT ASSETS

Stocks

6,139

11,582

Debtors

139,873

204,312

Cash at bank

7,175

1,906

153,187

217,800

CREDITORS

Amounts falling due within one year

3

241,824

276,161

NET CURRENT LIABILITIES

(88,637

)

(58,361

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

142,948

178,682

CREDITORS

Amounts falling due after more than one
year

(7,190

)

(13,828

)

PROVISIONS FOR LIABILITIES

(46,317

)

(47,409

)

NET ASSETS

89,441

117,445

CAPITAL AND RESERVES

Called up share capital

4

302

Share premium

614

Profit and loss account

88,525

116,529

SHAREHOLDERS' FUNDS

89,441

117,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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 26th January 2017 and were signed on its behalf
by:

D J Collins - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance, 10% on reducing balance and 5% on reducing balance

Fixtures and fittings

-

25% 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2015

549,395

Additions

25,448

At 30th April 2016

574,843

DEPRECIATION

At 1st May 2015

312,352

Charge for year

30,906

At 30th April 2016

343,258

NET BOOK VALUE

At 30th April 2016

231,585

At 30th April 2015

237,043

3.

CREDITORS

Creditors include an amount of £ 105,308 (2015 - £ 133,755 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

300

Ordinary

£1

300

1

Ordinary A

£1

1

Ordinary B

£1

1

302