Henderson Fabrications UK Limited - Period Ending 2016-11-30

Registration number: 04820939

Henderson Fabrications UK Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 30 November 2016

Michael J Emery & Co Limited
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Henderson Fabrications UK 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 Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Henderson Fabrications UK Limited
for the Year Ended 30 November 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Henderson Fabrications UK Limited for the year ended 30 November 2016 set out on pages 2 to 5 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Henderson Fabrications UK 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 Henderson Fabrications UK Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Henderson Fabrications UK Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Henderson Fabrications UK 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 Henderson Fabrications UK Limited. You consider that Henderson Fabrications UK 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 Henderson Fabrications UK 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.

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

Michael J Emery & Co Limited
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

17 August 2017

Page 1

Henderson Fabrications UK Limited

(Registration number: 04820939)
Abbreviated Balance Sheet as at 30 November 2016

	Note	2016  £	2015  £
Fixed assets
Intangible assets	2	175,000	200,000
Tangible assets	2	249,267	223,932
		424,267	423,932
Current assets
Stocks		56,000	25,000
Debtors		720,903	709,188
Cash at bank and in hand		1,305,719	1,183,893
		2,082,622	1,918,081
Prepayments and accrued income		18,008	17,421
Creditors: Amounts falling due within one year		(554,730)	(449,902)
Net current assets		1,545,900	1,485,600
Total assets less current liabilities		1,970,167	1,909,532
Creditors: Amounts falling due after more than one year		(435,617)	(449,328)
Provisions for liabilities		(33,757)	(26,775)
Accruals and deferred income		(5,425)	(5,575)
Net assets		1,495,368	1,427,854
Capital and reserves
Called up share capital		200	200
Profit and loss account		1,495,168	1,427,654
Shareholders funds		1,495,368	1,427,854

For the year ending 30 November 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 directors acknowledge their 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 Board on 17 August 2017 and signed on its behalf by:

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

Henderson Fabrications UK Limited

(Registration number: 04820939)
Abbreviated Balance Sheet as at 30 November 2016

.........................................
Mr S O'Looney
Director

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

Henderson Fabrications UK Limited

Notes to the Abbreviated Accounts

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 April 2008).

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.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

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
Long leasehold	10% on cost
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

Stock

Stock 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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.

Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 4

Henderson Fabrications UK Limited

Notes to the Abbreviated Accounts

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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 December 2015	500,000	832,499	1,332,499
Additions	-	93,242	93,242
At 30 November 2016	500,000	925,741	1,425,741
Depreciation
At 1 December 2015	300,000	608,567	908,567
Charge for the year	25,000	67,907	92,907
At 30 November 2016	325,000	676,474	1,001,474
Net book value
At 30 November 2016	175,000	249,267	424,267
At 30 November 2015	200,000	223,932	423,932

Page 5