HAC_HOLDINGS_(WALES)_LIMI - Accounts

HAC HOLDINGS (WALES) LIMITED - Company Information

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Company Registration No. 08726019 (England and Wales)

HAC HOLDINGS (WALES) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

HAC HOLDINGS (WALES) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HAC HOLDINGS (WALES) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

71,967

95,898

Investments

71,969

95,900

Current assets

Debtors

23,160

178,286

Cash at bank and in hand

500,822

321,893

523,982

500,179

Creditors: amounts falling due within one year

(3,217)

(247)

Net current assets

520,765

499,932

Total assets less current liabilities

592,734

595,832

Provisions for liabilities

(5,000)

(9,000)

587,734

586,832

Capital and reserves

Called up share capital

Profit and loss account

587,728

586,826

Shareholders' funds

587,734

586,832

For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 April 2017

Mr P D Harries

Director

Company Registration No. 08726019

HAC HOLDINGS (WALES) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents rents receivable for use of assets during the year.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

10% straight line

Fixtures, fittings & equipment

33% straight line

Motor vehicles

25% straight line

1.5

Investments

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

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 August 2015 & at 31 July 2016

130,843

130,845

Depreciation

At 1 August 2015

34,945

Charge for the year

23,931

At 31 July 2016

58,876

Net book value

At 31 July 2016

71,967

71,969

At 31 July 2015

95,898

95,900

Share capital

2016

2015

Allotted, called up and fully paid

6 Ordinary shares of £1 each

HAC HOLDINGS (WALES) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

Related party relationships and transactions

During the year, the company paid dividends to the directors for the amount of £306,920 (2015: £157,960).

In the previous year the company purchased fixed assets at arms length from it's subsidiary, Harries Automations & Control Limited, amounting to £36,042, none were bought from the subsidiary in 2016. The company charged Harries Automation & Control Limited rent for the use of equipment during the year totalling £25,000 (2015: £25,000). At the year end the company was due £23,160 (2015: £178,286) from Harries Automation & Control Limited.