Hadrian Air Conditioning Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01926785 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2016

for

Hadrian Air Conditioning And

Refrigeration Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr A J Unsworth

Mrs E R Unsworth

Mr M R Hurst

Mr K Armstrong

SECRETARY:

Mrs E R Unsworth

REGISTERED OFFICE:

Hadrian House

Crowther Road

Crowther Industrial Estate

Washington

Tyne and Wear

NE38 0AQ

REGISTERED NUMBER:

01926785 (England and Wales)

ACCOUNTANTS:

RHK Business Advisers LLP

Chartered Accountants

and Business Advisers

Coburg House

1 Coburg Street

Gateshead

Tyne & Wear

NE8 1NS

FIXED ASSETS

Tangible assets

2

121,936

114,638

CURRENT ASSETS

Stocks

17,756

15,380

Debtors

1,244,957

1,370,107

Cash at bank and in hand

7,867

294,271

1,270,580

1,679,758

CREDITORS

Amounts falling due within one year

3

624,870

942,092

NET CURRENT ASSETS

645,710

737,666

TOTAL ASSETS LESS CURRENT LIABILITIES

767,646

852,304

CREDITORS

Amounts falling due after more than one year

3

(38,469

)

(133,996

)

PROVISIONS FOR LIABILITIES

(792

)

-

NET ASSETS

728,385

718,308

CAPITAL AND RESERVES

Called up share capital

4

5,000

5,000

Profit and loss account

723,385

713,308

SHAREHOLDERS' FUNDS

728,385

718,308

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 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 5 May 2017 and were signed on its behalf by:

Mr A J Unsworth - Director

Mrs E R Unsworth - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as

a small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Long term contracts are stated at net cost less foreseeable losses less any applicable payments on account.

The amount recorded as revenue in respect of long term contracts is ascertained by reference to the value of

the work carried out to date. Attributable profit is recognised as the difference between recorded revenue and

related costs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

5% on cost

Plant and machinery etc

-

50% on cost and 33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

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

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised

in respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the

timing differences are expected to reverse, based on tax rates and laws that have been enacted by the

balance 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual

arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract

that evidences a residual interest in the assets of the company, after deducting all liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

503,007

Additions

33,778

Disposals

(62,118

)

At 31 August 2016

474,667

DEPRECIATION

At 1 September 2015

388,369

Charge for year

26,480

Eliminated on disposal

(62,118

)

At 31 August 2016

352,731

NET BOOK VALUE

At 31 August 2016

121,936

At 31 August 2015

114,638

3.

CREDITORS

Creditors include an amount of £ 129,082 (2015 - £ 213,946 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

5,000

Ordinary

£1

5,000

5,000

5.	ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Unsworth Unsworth & Co. Limited, a company incorporated in

the United Kingdom.