Hamilton Knight Development Co. Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 01331889 (England and Wales)

HAMILTON KNIGHT DEVELOPMENT CO. LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MAY 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr C W Asher

Mrs S M Thurgood

SECRETARY:

Mrs S M Thurgood

REGISTERED OFFICE:

Unit 17

Canalside Industrial Park

Kinoulton Road

Cropwell Bishop

Nottinghamshire

NG12 3BE

REGISTERED NUMBER:

01331889 (England and Wales)

ACCOUNTANTS:

UHY Hacker Young

Chartered Accountants

22 The Ropewalk

Nottingham

NG1 5DT

FIXED ASSETS

Tangible assets

2

32,056

22,299

CURRENT ASSETS

Stocks

20,000

20,000

Debtors

56,001

74,711

Cash at bank and in hand

2,472

17,214

78,473

111,925

CREDITORS

Amounts falling due within one year

3

52,728

84,404

NET CURRENT ASSETS

25,745

27,521

TOTAL ASSETS LESS CURRENT LIABILITIES

57,801

49,820

CREDITORS

Amounts falling due after more than one year

3

32,892

-

NET ASSETS

24,909

49,820

CAPITAL AND RESERVES

Called up share capital

4

400,020

400,020

Capital redemption reserve

505

505

Profit and loss account

(375,616

)

(350,705

)

SHAREHOLDERS' FUNDS

24,909

49,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 3rd November 2014 and were signed on its behalf by:

Mr C W Asher - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At 31st May 2014 the company has a net deficit on its profit and loss account of £375,616 but an overall

net asset position of £24,909. The company continues to be supported by its directors and shareholders

and it is on this basis that the accounts have been prepared on a going concern basis.

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 April 2008).

Turnover

Turnover represents the value of goods sold to customers for the period and has been adjusted by the

valuation of contracts held at the year end. These contracts have been valued at cost plus

attributable profits less foreseeable losses and progress payments received. Development properties

where no contract is in place are reflected as work in progress and valued at cost plus attributable

overheads.

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.

Improvements to property

-

Straight line over five years

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance and 33% on cost

Motor vehicles

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 1st June 2013

201,030

Additions

20,526

Disposals

(5,800

)

At 31st May 2014

215,756

DEPRECIATION

At 1st June 2013

178,731

Charge for year

10,479

Eliminated on disposal

(5,510

)

At 31st May 2014

183,700

NET BOOK VALUE

At 31st May 2014

32,056

At 31st May 2013

22,299

3.

CREDITORS

Creditors include an amount of £ 9,792 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

400,000

Ordinary 'A'

£1

400,000

400,000

20

Ordinary 'B' Non-voting

£1

20

20

400,020

400,020