Hanningfield Process Systems Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02791306 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

HANNINGFIELD PROCESS SYSTEMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr C Ellis

Mrs J Ellis

Mr J R A Ellis

SECRETARY:

Mrs J Ellis

REGISTERED OFFICE:

17 Millhead Way

Purdeys Industrial Estate

Rochford

Essex

SS4 1LB

REGISTERED NUMBER:

02791306 (England and Wales)

ACCOUNTANTS:

Cheshams Accountants Ltd

Chartered Certified Accountants

Suite 16,Neals Corner

2 Bath Road

Hounslow

Middlesex

TW3 3HJ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

83,453

109,215

Investments

4

1,739

1,739

85,192

110,954

CURRENT ASSETS

Stocks

216,498

190,322

Debtors

279,204

220,015

Cash at bank and in hand

14,240

8,084

509,942

418,421

CREDITORS

Amounts falling due within one year

458,582

381,633

NET CURRENT ASSETS

51,360

36,788

TOTAL ASSETS LESS CURRENT LIABILITIES

136,552

147,742

CREDITORS

Amounts falling due after more than one year

(3,259

)

(16,954

)

PROVISIONS FOR LIABILITIES

(15,934

)

(19,247

)

NET ASSETS

117,359

111,541

CAPITAL AND RESERVES

Called up share capital

5

37,478

37,478

Profit and loss account

79,881

74,063

SHAREHOLDERS' FUNDS

117,359

111,541

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 31 May 2017 and were signed on its behalf by:

Mr C Ellis - 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).

Preparation of consolidated financial statements

The financial statements contain information about Hanningfield Process Systems Limited as an individual company and do not contain

consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act

2006 not to prepare consolidated financial statements.

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.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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

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.

Goodwill

Purchased goodwill is amortised on a straight-line basis over its estimated life of ten years.

Hire purchase and leased assets

Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over

their useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is

charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments

made under them are charged to profit and loss account on a straight line basis over the lease term.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

17,528

AMORTISATION

At 1 September 2015

and 31 August 2016

17,528

NET BOOK VALUE

At 31 August 2016

-

At 31 August 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

334,976

Additions

1,175

At 31 August 2016

336,151

DEPRECIATION

At 1 September 2015

225,761

Charge for year

26,937

At 31 August 2016

252,698

NET BOOK VALUE

At 31 August 2016

83,453

At 31 August 2015

109,215

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 September 2015

and 31 August 2016

1,739

NET BOOK VALUE

At 31 August 2016

1,739

At 31 August 2015

1,739

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

37,478

Ordinary

£1.00

37,478

37,478

6.	RELATED PARTY DISCLOSURES