Hartlib Press Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01618958 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2017

for

Hartlib Press Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M N Wilson

D Hughes

S Hall

SECRETARY:

M N Wilson

REGISTERED OFFICE:

Sovereign House

155 High Street

Aldershot

Hampshire

GU11 1TT

REGISTERED NUMBER:

01618958 (England and Wales)

ACCOUNTANTS:

Whiteleys

Chartered Certified Accountants

Sovereign House

155 High Street

Aldershot

Hampshire

GU11 1TT

FIXED ASSETS

Tangible assets

5

630

135

CURRENT ASSETS

Stocks

451

471

Debtors

919

213

Cash at bank and in hand

10,299

11,511

11,669

12,195

CREDITORS

Amounts falling due within one year

3,379

2,522

NET CURRENT ASSETS

8,290

9,673

TOTAL ASSETS LESS CURRENT LIABILITIES

8,920

9,808

CAPITAL AND RESERVES

Called up share capital

16,463

16,463

Retained earnings

(7,543

)

(6,655

)

SHAREHOLDERS' FUNDS

8,920

9,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 10th July 2017 and were signed on its behalf by:

M N Wilson - Director

1.	STATUTORY INFORMATION

Hartlib Press 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents

amounts receivable for goods supplied and services rendered, stated net of discounts and of Value

Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is

probable that future economic benefits will flow to the entity.

Tangible fixed assets

Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment

losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,

over their estimated useful lives as follows:

Fixtures and fittings - 15% on reducing balance

Computer equipment - 33% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item

sold is recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion

and other costs incurred in bringing the stocks to their present location and condition.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate

for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial

position when there is an enforceable right to set off the recognised amounts and there is an intention

to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property

and equipment, are reviewed to determine whether there is an indication that an asset may be

impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group

of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated

and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the

asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit

or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of

stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an

item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less

costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related

assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount

that would have been determined had no impairment loss been recognised for the asset or group of

related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or

loss.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2016

21,835

Additions

934

At 31st March 2017

22,769

DEPRECIATION

At 1st April 2016

21,700

Charge for year

439

At 31st March 2017

22,139

NET BOOK VALUE

At 31st March 2017

630

At 31st March 2016

135

6.	RELATED PARTY DISCLOSURES

At the year end, the company owed it's director Mr M N Wilson £2,080 (2016 - £1,560).

7.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS 102.