R S Henderson Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC228534 (Scotland)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

R S Henderson Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S D Henderson

T M Henderson

SECRETARY:

T M Henderson

REGISTERED OFFICE:

Cullivoe

Yell

Shetland

ZE2 9DD

REGISTERED NUMBER:

SC228534 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Tangible assets

4

1,884,176

1,573,637

Investments

5

10,000

10,000

1,894,176

1,583,637

CURRENT ASSETS

Stocks

50,429

39,445

Debtors

6

982,872

991,746

Cash at bank

166,164

334,369

1,199,465

1,365,560

CREDITORS

Amounts falling due within one year

7

584,552

568,016

NET CURRENT ASSETS

614,913

797,544

TOTAL ASSETS LESS CURRENT LIABILITIES

2,509,089

2,381,181

CREDITORS

Amounts falling due after more than one year

8

(442,004

)

(419,006

)

PROVISIONS FOR LIABILITIES

(136,996

)

(140,240

)

NET ASSETS

1,930,089

1,821,935

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,930,087

1,821,933

SHAREHOLDERS' FUNDS

1,930,089

1,821,935

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

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

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 15 November 2017 and were signed on its behalf by:

S D Henderson - Director

T M Henderson - Director

1.	STATUTORY INFORMATION

R S Henderson Limited is a private company, limited by shares , registered in Scotland. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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

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 12 (2016 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 June 2016

298,222

2,730,889

7,521

3,036,632

Additions

145,416

579,333

1,272

726,021

Disposals

-

(125,634

)

-

(125,634

)

At 31 May 2017

443,638

3,184,588

8,793

3,637,019

DEPRECIATION

At 1 June 2016

-

1,459,084

3,911

1,462,995

Charge for year

-

359,315

1,611

360,926

Eliminated on disposal

-

(71,078

)

-

(71,078

)

At 31 May 2017

-

1,747,321

5,522

1,752,843

NET BOOK VALUE

At 31 May 2017

443,638

1,437,267

3,271

1,884,176

At 31 May 2016

298,222

1,271,805

3,610

1,573,637

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

Plant and

machinery

£

COST

At 1 June 2016

1,526,276

Additions

449,132

Disposals

(99,820

)

Transfer to ownership

(349,412

)

At 31 May 2017

1,526,176

DEPRECIATION

At 1 June 2016

696,505

Charge for year

223,927

Eliminated on disposal

(57,080

)

Transfer to ownership

(232,886

)

At 31 May 2017

630,466

NET BOOK VALUE

At 31 May 2017

895,710

At 31 May 2016

829,771

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2016

and 31 May 2017

10,000

NET BOOK VALUE

At 31 May 2017

10,000

At 31 May 2016

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

690,980

670,284

Other debtors

291,892

321,462

982,872

991,746

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

17,400

17,400

Hire purchase contracts

274,558

261,884

Trade creditors

198,009

156,673

Taxation and social security

60,082

99,538

Other creditors

34,503

32,521

584,552

568,016

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans

118,814

134,763

Hire purchase contracts

323,190

262,236

Other creditors

-

22,007

442,004

419,006

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

49,214

65,163