Hanbeck Natural Stone Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03542628

Abbreviated Accounts

for the Year Ended 31 July 2016

for

Hanbeck Natural Stone Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr D L Baker

SECRETARY:

Mrs C Kelly

REGISTERED OFFICE:

Nicholsons Accountants

Newland House

The Point Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

REGISTERED NUMBER:

03542628

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

FIXED ASSETS

Tangible assets

2

143,707

78,274

CURRENT ASSETS

Stocks

20,000

10,000

Debtors

41,576

48,404

Cash at bank and in hand

2,889

6,075

64,465

64,479

CREDITORS

Amounts falling due within one year

3

213,879

201,706

NET CURRENT LIABILITIES

(149,414

)

(137,227

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,707

)

(58,953

)

CREDITORS

Amounts falling due after more than
one year

3

-

214

NET LIABILITIES

(5,707

)

(59,167

)

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

(5,709

)

(59,169

)

SHAREHOLDERS' FUNDS

(5,707

)

(59,167

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 26 April 2017 and were signed by:

Mr D L Baker - 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).

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.

Freehold property

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

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. Deferred tax is not recognised when assets are revalued

unless, by the balance sheet date, the company has entered into a binding agreement to sell

the assets and recognised the gains and losses expected to arise on sale or where assets

have been sold and it is expected that the taxable gain will be rolled over into a replacement

asset.e sheet date.

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 1 August 2015

115,248

Additions

83,870

At 31 July 2016

199,118

DEPRECIATION

At 1 August 2015

36,974

Charge for year

18,437

At 31 July 2016

55,411

NET BOOK VALUE

At 31 July 2016

143,707

At 31 July 2015

78,274

3.

CREDITORS

Creditors include an amount of £ 264 (2015 - £ 3,539 ) for which security has been given.

The above amount is all due within 1 year.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2