Express Instrument Hire Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02593280 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

FOR

EXPRESS INSTRUMENT HIRE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L R Myers

SECRETARY:

Mrs A E Griffiths

REGISTERED OFFICE:

Express House

113 Church Road

Tarleton

Preston

PR4 6UP

REGISTERED NUMBER:

02593280 (England and Wales)

ACCOUNTANTS:

TLL Accountants

7-9 Station Road

Hesketh Bank

Preston

Lancashire

PR4 6SN

FIXED ASSETS

Tangible assets

4

151,018

169,810

CURRENT ASSETS

Debtors

479,623

475,320

Cash at bank

117,307

80,154

596,930

555,474

CREDITORS

Amounts falling due within one year

112,093

91,632

NET CURRENT ASSETS

484,837

463,842

TOTAL ASSETS LESS CURRENT LIABILITIES

635,855

633,652

PROVISIONS FOR LIABILITIES

29,710

33,425

NET ASSETS

606,145

600,227

CAPITAL AND RESERVES

Called up share capital

45,150

45,150

Retained earnings

560,995

555,077

SHAREHOLDERS' FUNDS

606,145

600,227

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 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.

All the members have consented to the preparation of an abridged Income Statement and 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 director on 1st November 2017 and were signed by:

L R Myers - Director

1.	STATUTORY INFORMATION

Express Instrument Hire 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.

Short leasehold

-

10% on reducing balance

Hire equipment

-

10% on cost

Furniture and fixtures

-

25% on cost

Office equipment

-

25% on cost

Workshop equipment

-

25% on cost and 20% on cost

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.

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.

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 7 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2016

584,130

Additions

44,280

Disposals

(34,515

)

At 31st March 2017

593,895

DEPRECIATION

At 1st April 2016

414,320

Charge for year

57,841

Eliminated on disposal

(29,284

)

At 31st March 2017

442,877

NET BOOK VALUE

At 31st March 2017

151,018

At 31st March 2016

169,810

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2017 and

31st March 2016:

2017

2016

£

£

L R Myers

Balance outstanding at start of year

108,365

152,103

Amounts advanced

128,455

146,012

Amounts repaid

(150,000

)

(189,750

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

86,820

108,365

6.	RELATED PARTY DISCLOSURES

At the year end parent company owed £266,987 (2016: £266,987 ) on inter company account.