Harry K. & H. Construction Co Ltd - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 02017467 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

HARRY K. & H. CONSTRUCTION CO LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Kanji Ramji Halai

Mr Harilal Patel

SECRETARY:

Mrs Amratben Patel

REGISTERED OFFICE:

First Floor

Top-Op House

5 Garland Road

Stanmore

Middlesex

HA7 1NR

REGISTERED NUMBER:

02017467 (England and Wales)

ACCOUNTANTS:

Macalvins Limited

Chartered Accountants

7 St John's Road

Harrow

Middlesex

HA1 2EY

FIXED ASSETS

Tangible assets

3

1,893,362

2,067,185

CURRENT ASSETS

Debtors

4

749,860

1,744,629

Investments

5

-

428,790

Cash at bank

1,133,601

118,637

1,883,461

2,292,056

CREDITORS

Amounts falling due within one year

6

63,806

659,703

NET CURRENT ASSETS

1,819,655

1,632,353

TOTAL ASSETS LESS CURRENT LIABILITIES

3,713,017

3,699,538

CREDITORS

Amounts falling due after more than one year

7

839,341

892,765

NET ASSETS

2,873,676

2,806,773

CAPITAL AND RESERVES

Called up share capital

9

100

100

Profit and loss account

10

2,873,576

2,806,673

SHAREHOLDERS' FUNDS

2,873,676

2,806,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 March 2017 and were signed on its behalf by:

Mr Harilal Patel - 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.

Plant and machinery

-

20% reducing balance

Motor vehicles

-

20% reducing balance

Computer equipment

-

20% reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at 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.

Investment properties

In accordance with the Financial Reporting Standard 15, no depreciation is provided in respect of freehold

investment property. This is a departure from the requirements of the Companies Act 2006 which requires all

properties to be depreciated. Such properties are not held for consumption but for investment and the directors

consider that to depreciate them would not give a true and fair view. Depreciation is only one of many factors

reflected in the periodic valuation of properties and accordingly the amount of depreciation which might

otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy

results in the accounts giving a true and fair view.

2.	AUDITORS' REMUNERATION

The operating profit is stated after charging:

2016

2015

£

£

Accountancy & professional fee

18,003

27,923

3.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2015

2,050,892

9,706

139,882

4,344

2,204,824

Additions

-

-

25,881

348

26,229

Disposals

(191,548

)

-

-

-

(191,548

)

At 30 September 2016

1,859,344

9,706

165,763

4,692

2,039,505

DEPRECIATION

At 1 October 2015

-

9,525

123,849

4,265

137,639

Charge for year

-

36

8,382

86

8,504

At 30 September 2016

-

9,561

132,231

4,351

146,143

NET BOOK VALUE

At 30 September 2016

1,859,344

145

33,532

341

1,893,362

At 30 September 2015

2,050,892

181

16,033

79

2,067,185

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST

At 1 October 2015

and 30 September 2016

77,883

DEPRECIATION

At 1 October 2015

73,926

Charge for year

791

At 30 September 2016

74,717

NET BOOK VALUE

At 30 September 2016

3,166

At 30 September 2015

3,957

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

41,223

46,105

Amounts owed by group undertakings

653,497

653,497

Other debtors

44,299

594,299

Other debtors - PAYE

10,841

296,094

CIS refund

-

65,980

Directors' current accounts

-

40,377

VAT

-

48,277

749,860

1,744,629

5.	CURRENT ASSET INVESTMENTS

2016

2015

£

£

Joint venture investment

-

428,790

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Other loans

-

520,000

Trade creditors

26,687

3,037

Tax

25,902

40,232

VAT

4,304

-

Ferb loan

-

88,000

Subcontractors payable

1,408

3,526

Rent deposit

1,408

1,408

Directors' current accounts

597

-

Accrued expenses

3,500

3,500

63,806

659,703

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans - 2-5 years

800,608

878,073

Bank Loan

38,733

14,692

839,341

892,765

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank Loan

38,733

14,692

8.	PREFERENCE SHARES

Details of preference shares are as follows:

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Profit

and loss

account

£

At 1 October 2015

2,806,673

Profit for the year

121,903

Dividends

(55,000

)

At 30 September 2016

2,873,576

11.	RELATED PARTY DISCLOSURES

Mr Harilal Patel

2016

2015

£

£

Amount due to related party at the balance sheet date

597

-

12.	PENSION COMMITMENTS

The company operates money purchase (defined contribution) pension schemes. The assets of the schemes are

held separately from those of the company in independently administered funds. The pension cost charge

represents contributions made by the company to the schemes and amounted to £360 (2015 - £476). The

numbers of directors benefiting from this schemes are two (2015 - two).