Heathbrook Construction Company Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01195464 (England and Wales)

HEATHBROOK CONSTRUCTION COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

R W Powell

A M Powell

SECRETARY:

R W Powell

REGISTERED OFFICE:

Dale Street

Bilston

Wolverhampton

West Midlands

WV14 7JY

REGISTERED NUMBER:

01195464 (England and Wales)

ACCOUNTANTS:

Hollingsworth & Co Ltd

Coppice House

Halesfield 7

Telford

Shropshire

TF7 4NA

BANKERS:

National Westminister Bank PLC

65 Church Street

Bilston

Wolverhampton

West Midlands

WV14 0BF

FIXED ASSETS

Tangible assets

3

20,267

38,012

CURRENT ASSETS

Stocks

21,501

873

Debtors

4

101,718

123,079

Cash at bank and in hand

95,432

8,922

218,651

132,874

CREDITORS

Amounts falling due within one year

5

204,259

134,155

NET CURRENT ASSETS/(LIABILITIES)

14,392

(1,281

)

TOTAL ASSETS LESS CURRENT LIABILITIES

34,659

36,731

CREDITORS

Amounts falling due after more than one year

6

-

11,423

NET ASSETS

34,659

25,308

CAPITAL AND RESERVES

Called up share capital

7

10,100

10,100

Retained earnings

8

24,559

15,208

SHAREHOLDERS' FUNDS

34,659

25,308

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 10th November 2017 and were signed on its behalf by:

R W Powell - Director

A M Powell - Director

1.	STATUTORY INFORMATION

Heathbrook Construction Company 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.	TANGIBLE FIXED ASSETS

Long

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st July 2016

13,708

34,376

108,979

10,054

167,117

Disposals

-

-

(66,740

)

-

(66,740

)

At 30th June 2017

13,708

34,376

42,239

10,054

100,377

DEPRECIATION

At 1st July 2016

2,893

28,576

89,116

8,520

129,105

Charge for year

-

870

4,966

773

6,609

Eliminated on disposal

-

-

(55,604

)

-

(55,604

)

At 30th June 2017

2,893

29,446

38,478

9,293

80,110

NET BOOK VALUE

At 30th June 2017

10,815

4,930

3,761

761

20,267

At 30th June 2016

10,815

5,800

19,863

1,534

38,012

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

follows:

Motor

vehicles

£

COST

At 1st July 2016

89,570

Disposals

(66,740

)

At 30th June 2017

22,830

DEPRECIATION

At 1st July 2016

68,853

Charge for year

3,712

Eliminated on disposal

(55,604

)

At 30th June 2017

16,961

NET BOOK VALUE

At 30th June 2017

5,869

At 30th June 2016

20,717

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

88,580

55,476

Amount due from Heathbrook Contracts Limited

-

24,048

Other debtors

-

2,720

Directors' current accounts

-

27,317

Prepayments

13,138

13,518

101,718

123,079

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Pension fund loan

6,000

8,000

Hire purchase contracts

-

6,855

Trade creditors

92,369

62,870

Corporation tax

37,763

24,184

Social security and other taxes

4,350

4,410

VAT

23,220

10,903

Amount due to Heathbrook Contracts Limited

20,878

-

Directors' current accounts

3,019

-

Accrued expenses

16,660

16,933

204,259

134,155

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Pension fund loan

-

6,000

Hire purchase contracts

-

5,423

-

11,423

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

10,000

Ordinary

£1

10,000

10,000

100

Preference Shares

£1

100

100

10,100

10,100

The preference shares have no voting rights in the company, have no right to dividend other

than at the discretion of the directors,but take priority over the ordinary shares on a winding

up,when they are repayable at their nominal amount.

The ordinary shares have full voting rights in the company,have no right to dividend other

than at the discretion of the directors, rank after the preference shares on a winding up,but

are entitled to all the remaining capital on a winding up.

8.

RESERVES

Retained

earnings

£

At 1st July 2016

15,208

Profit for the year

100,382

Dividends

(91,031

)

At 30th June 2017

24,559

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

30th June 2017 and 30th June 2016:

2017

2016

£

£

R W Powell

Balance outstanding at start of year

14,992

(1,979

)

Amounts advanced

36,203

16,971

Amounts repaid

(54,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,805

)

14,992

A M Powell

Balance outstanding at start of year

12,326

8,021

Amounts advanced

888

4,305

Amounts repaid

(13,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

214

12,326

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Heathbrook Construction Company Limited for the year

ended 30th June 2017 which comprise the Income Statement, Balance Sheet and the related notes

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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Heathbrook Construction Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Heathbrook Construction Company Limited and state those matters that we have agreed to state to the Board of Directors of Heathbrook Construction Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heathbrook Construction Company Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Heathbrook Construction Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Heathbrook Construction Company Limited. You consider that Heathbrook Construction Company 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 financial statements of Heathbrook Construction Company 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 financial statements.

Hollingsworth & Co Ltd

Coppice House

Halesfield 7

Telford

Shropshire

TF7 4NA

10th November 2017