UNITED_GRAB_HIRE_LIMITED - Accounts

UNITED GRAB HIRE LIMITED - Company Information

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Company Registration No. 03372088 (England and Wales)

UNITED GRAB HIRE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

UNITED GRAB HIRE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

UNITED GRAB HIRE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

466,704

597,756

Investments

466,714

597,766

Current assets

Debtors

1,667,922

1,374,866

Cash at bank and in hand

415,675

578,686

2,083,597

1,953,552

Creditors: amounts falling due within one year

(776,796)

(648,451)

Net current assets

1,306,801

1,305,101

Total assets less current liabilities

1,773,515

1,902,867

Creditors: amounts falling due after more than one year

(38,957)

(103,830)

Provisions for liabilities

(76,518)

(135,488)

1,658,040

1,663,549

Capital and reserves

Called up share capital

101

Profit and loss account

1,657,939

1,663,448

Shareholders' funds

1,658,040

1,663,549

UNITED GRAB HIRE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2016

- 2 -

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

Mrs Beverley Howland

Director

Company Registration No. 03372088

UNITED GRAB HIRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

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 amounts receivable for goods and services net of VAT and trade discounts.

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:

Land and buildings Leasehold

straight line over 10 years/the term of the lease

Plant and machinery

25% on reducing balance

Fixtures, fittings & equipment

20% on reducing balance/33% on reducing balance

Motor vehicles

25% on reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Investments

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

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

UNITED GRAB HIRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 August 2015

1,496,776

1,496,786

Additions

146,675

Disposals

(377,760)

At 31 July 2016

1,265,691

1,265,701

Depreciation

At 1 August 2015

899,020

On disposals

(254,516)

Charge for the year

154,483

At 31 July 2016

798,987

Net book value

At 31 July 2016

466,704

466,714

At 31 July 2015

597,756

597,766

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

United Skips Limited

England & Wales

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

United Skips Limited

Skip hire

(55,026)

2,279

UNITED GRAB HIRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 5 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

1 Ordinary B shares of £1 each

101

Related party relationships and transactions

Advances and credits to directors

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Directors Loans

3.00

(9,157)

558,498

577

484,137

65,781

(9,157)

558,498

577

484,137

65,781

The overdrawn amount on the loan account was repaid within 9 months of the year-end.