Holmwood International Shipping Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05372841 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2016

for

Holmwood International Shipping Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M A Holmwood

SECRETARY:

A J Holmwood

REGISTERED OFFICE:

29 High Street

Blue Town

SHEERNESS

Kent

ME12 1RN

REGISTERED NUMBER:

05372841 (England and Wales)

ACCOUNTANTS:

Blain Pritchard

Chartered Certified Accountants

29 High Street

Blue Town

SHEERNESS

Kent

ME12 1RN

FIXED ASSETS

Tangible assets

4

10,856

13,876

CURRENT ASSETS

Debtors

5

271,724

134,801

Cash at bank and in hand

271,734

122,958

543,458

257,759

CREDITORS

Amounts falling due within one year

6

271,779

51,648

NET CURRENT ASSETS

271,679

206,111

TOTAL ASSETS LESS CURRENT LIABILITIES

282,535

219,987

PROVISIONS FOR LIABILITIES

2,171

-

NET ASSETS

280,364

219,987

CAPITAL AND RESERVES

Called up share capital

61

61

Retained earnings

280,303

219,926

SHAREHOLDERS' FUNDS

280,364

219,987

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 director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 28th September 2017 and were signed by:

M A Holmwood - Director

1.	STATUTORY INFORMATION

Holmwood International Shipping 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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 10% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss

Account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2016

and 31st December 2016

25,326

DEPRECIATION

At 1st January 2016

11,450

Charge for year

3,020

At 31st December 2016

14,470

NET BOOK VALUE

At 31st December 2016

10,856

At 31st December 2015

13,876

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

132,958

88,115

Other debtors

138,766

46,686

271,724

134,801

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

215,251

4,705

Taxation and social security

52,508

44,276

Other creditors

4,020

2,667

271,779

51,648

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31st December 2016 and 31st December 2015:

2016

2015

£

£

M A Holmwood

Balance outstanding at start of year

35,603

35,669

Amounts repaid

(887

)

(66

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

34,716

35,603