Huddersfield Dyeing Company Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04923072 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2016

for

Huddersfield Dyeing Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T N Gledhill

J M Brook

SECRETARY:

T N Gledhill

REGISTERED OFFICE:

Canal Bank Dyeworks

Canal Street

Leeds Road

Huddersfield

West Yorkshire

HD1 6NY

REGISTERED NUMBER:

04923072 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

169,503

79,486

169,503

79,486

CURRENT ASSETS

Stocks

173,024

158,122

Debtors

6

507,374

453,763

Cash at bank and in hand

21,455

35,630

701,853

647,515

CREDITORS

Amounts falling due within one year

7

687,637

563,845

NET CURRENT ASSETS

14,216

83,670

TOTAL ASSETS LESS CURRENT LIABILITIES

183,719

163,156

CREDITORS

Amounts falling due after more than one year

8

(5,942

)

(8,974

)

PROVISIONS FOR LIABILITIES

(30,764

)

(13,446

)

NET ASSETS

147,013

140,736

CAPITAL AND RESERVES

Called up share capital

10

1,500

1,500

Share premium

30,255

30,255

Capital redemption reserve

502

502

Retained earnings

114,756

108,479

SHAREHOLDERS' FUNDS

147,013

140,736

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st December 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 11th July 2017 and were signed on its behalf by:

J M Brook - Director

1.	STATUTORY INFORMATION

Huddersfield Dyeing Company Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the fair value, excluding value added tax, of sales made during the year. In addition, revenue

recognised from uninvoiced work done at the year end date is included based on the stage of completeness of

such work.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at rates calculated to write of the cost less residual value of each asset over its expected

useful life, as follows:

Plant and machinery - 2 to 10 years straight line per annum

Fixtures and fittings - 2 to 10 years straight line per annum

Motor vehicles - 25% straight line per annum

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company

becomes party to the contractual provisions of the instrument.

Basic financial instruments are recognised at amortised cost with changes recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2016

743,347

Additions

3,000

At 31st December 2016

746,347

AMORTISATION

At 1st January 2016

743,347

Charge for year

3,000

At 31st December 2016

746,347

NET BOOK VALUE

At 31st December 2016

-

At 31st December 2015

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2016

322,706

Additions

146,360

Disposals

(15,012

)

At 31st December 2016

454,054

DEPRECIATION

At 1st January 2016

243,220

Charge for year

53,343

Eliminated on disposal

(12,012

)

At 31st December 2016

284,551

NET BOOK VALUE

At 31st December 2016

169,503

At 31st December 2015

79,486

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

Plant and

machinery

etc

£

COST

At 1st January 2016

and 31st December 2016

16,954

DEPRECIATION

At 1st January 2016

7,419

Charge for year

2,384

At 31st December 2016

9,803

NET BOOK VALUE

At 31st December 2016

7,151

At 31st December 2015

9,535

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

481,046

389,565

Other debtors

26,328

64,198

507,374

453,763

Trade debtors includes £467,832 (2015 £395,709) which is subject to a debt factoring arrangement, funds

advanced against these debts at 31st December 2016 amounted to £399,330 (2015 £309,033). The funds

advanced against trade debtors are secured on the debts administered by the debt factors. In accordance with

Financial Reporting Standard Number 5, separate presentation has been adopted.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

3,033

3,033

Trade creditors

126,266

166,949

Taxation and social security

32,324

24,087

Other creditors

526,014

369,776

687,637

563,845

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

5,942

8,974

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

Hire purchase contracts

8,975

12,007

HSBC Invoice Finance (UK) Ltd

399,330

309,033

408,305

321,040

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

1,500

Ordinary A

£1

1,000

1,000

500

Ordinary C

£1

500

500

1,500

1,500