Henry and Banwell Limited - Period Ending 2016-09-30

Registration number: 04534650

Henry and Banwell Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Chartered Accountants

Henry and Banwell Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Henry and Banwell Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Henry and Banwell Limited for the year ended 30 September 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Henry and Banwell Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Henry and Banwell Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Henry and Banwell Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Henry and Banwell Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Henry and Banwell Limited. You consider that Henry and Banwell Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Henry and Banwell Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................


Chartered Accountants

5 June 2017

Page 1

Henry and Banwell Limited
(Registration number: 04534650)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					54,000			60,000
Tangible fixed assets					280,973			273,229
					334,973			333,229
Current assets
Stocks					12,405			15,006
Debtors					84,849			65,783
Cash at bank and in hand					27,795			16,962
					125,049			97,751
Creditors: Amounts falling due within one year					(148,486)			(126,265)
Net current liabilities					(23,437)			(28,514)
Total assets less current liabilities					311,536			304,715
Creditors: Amounts falling due after more than one year					(180,144)			(188,773)
Net assets					131,392			115,942
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					131,292			115,842
Shareholders' funds					131,392			115,942

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 5 June 2017

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Henry and Banwell Limited
(Registration number: 04534650)
Abbreviated Balance Sheet at 30 September 2016
......... continued

.........................................
M P Winkelmann
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Henry and Banwell Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	20 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	4 years reducing balance
Motorcycle	4 years reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Henry and Banwell Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		120,000			300,715			420,715
Additions		-			8,785			8,785
At 30 September 2016		120,000			309,500			429,500
Depreciation
At 1 October 2015		60,000			27,486			87,486
Charge for the year		6,000			1,041			7,041
At 30 September 2016		66,000			28,527			94,527
Net book value
At 30 September 2016		54,000			280,973			334,973
At 30 September 2015		60,000			273,229			333,229

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		180,144			188,773

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A of £1 each		80			80			80			80
Ordinary B of £1 each		20			20			20			20
		100			100			100			100

Page 5