Hexagon Computers Limited - Period Ending 2016-05-31

Registration number: 03193628

Hexagon Computers Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

RMCA
Chartered Accountants
The Counting House
9 High Street
Tring
Herts
HP23 5TE

Hexagon Computers Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Hexagon Computers Limited
(Registration number: 03193628)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					3,237			3,064
Investments					466,819			466,819
					470,056			469,883
Current assets
Stocks					-			375
Debtors					49,165			41,133
Cash at bank and in hand					5,051			-
					54,216			41,508
Creditors: Amounts falling due within one year					(313,870)			(326,420)
Net current liabilities					(259,654)			(284,912)
Net assets					210,402			184,971
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					210,302			184,871
Shareholders' funds					210,402			184,971

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 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 27 February 2017

S J Barnett Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Hexagon Computers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 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

The financial statements have been prepared on a going concern basis on the that the loan of £446,819 (2015 - £446,819) made to Hexagon Document Solutions Ltd will be repaid. Repayments were due to commence on 1 June 2015 but it has now been agreed that they will commence on 1 June 2017. Whilst there are material uncertainties that the loan can be repaid the director is satisfied that the company will continue to operate for the foreseeable future and there is neither the intention, nor the need, to either liquidate the company or to cease trading.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. In respect of long-term contracts and contracts for on-going services,turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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
Fixtures & fittings	20% straight line
Equipment	30% straight line

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 2

Hexagon Computers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 June 2015		91,338			466,819			558,157
Additions		2,335			-			2,335
At 31 May 2016		93,673			466,819			560,492
Depreciation
At 1 June 2015		88,274			-			88,274
Charge for the year		2,162			-			2,162
At 31 May 2016		90,436			-			90,436
Net book value
At 31 May 2016		3,237			466,819			470,056
At 31 May 2015		3,064			466,819			469,883

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3