Abbreviated Company Accounts - HOBBCO TOOL CO (1999) LIMITED

HOBBCO TOOL CO (1999) LIMITED - Company Information

Registered Number 03715325

HOBBCO TOOL CO (1999) LIMITED

Abbreviated Accounts

31 May 2016

HOBBCO TOOL CO (1999) LIMITED Registered Number 03715325

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	7,928	9,833
		7,928	9,833
Current assets
Stocks		67,670	68,515
Debtors		103,965	114,368
Cash at bank and in hand		458	2,158
		172,093	185,041
Creditors: amounts falling due within one year	3	(108,815)	(104,884)
Net current assets (liabilities)		63,278	80,157
Total assets less current liabilities		71,206	89,990
Total net assets (liabilities)		71,206	89,990
Capital and reserves
Called up share capital		28,500	28,500
Profit and loss account		42,706	61,490
Shareholders' funds		71,206	89,990

For the year ending 31 May 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 17 February 2017

And signed on their behalf by:
A M Munday, Director

HOBBCO TOOL CO (1999) LIMITED Registered Number 03715325

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents net invoiced sales of goods, excluding VAT.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Valuation information and policy
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Pension costs and other post-retirement benefits
The company operates a defined pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

2Tangible fixed assets

	£
Cost
At 1 June 2015	38,989
Additions	150
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	39,139
Depreciation
At 1 June 2015	29,156
Charge for the year	2,055
On disposals	-
At 31 May 2016	31,211
Net book values
At 31 May 2016	7,928
At 31 May 2015	9,833

3Creditors

	2016 £	2015 £
Secured Debts	19,013	26,673