Harry Marsh (Engineers) Limited Small abridged accounts

HARRY MARSH (ENGINEERS) LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2016-04-06 Sage Accounts Production Advanced 2017 Update 3 - FRS 5,374 53,125 xbrli:pure xbrli:shares iso4217:GBP 01066685 2016-04-06 2017-04-05 01066685 2017-04-05 01066685 2016-04-05 01066685 2015-04-06 2016-04-05 01066685 2016-04-05 01066685 core:PlantMachinery 2016-04-06 2017-04-05 01066685 core:FurnitureFittings 2016-04-06 2017-04-05 01066685 core:MotorVehicles 2016-04-06 2017-04-05 01066685 bus:RegisteredOffice 2016-04-06 2017-04-05 01066685 bus:LeadAgentIfApplicable 2016-04-06 2017-04-05 01066685 bus:Director3 2016-04-06 2017-04-05 01066685 bus:Director6 2016-04-06 2017-04-05 01066685 bus:CompanySecretary1 2016-04-06 2017-04-05 01066685 bus:Director6 2017-04-05 01066685 core:WithinOneYear 2017-04-05 01066685 core:WithinOneYear 2016-04-05 01066685 core:RetainedEarningsAccumulatedLosses 2016-04-06 2017-04-05 01066685 core:RetainedEarningsAccumulatedLosses 2015-04-06 2016-04-05 01066685 core:RetainedEarningsAccumulatedLosses 2016-04-05 01066685 core:RetainedEarningsAccumulatedLosses 2015-04-05 01066685 core:RetainedEarningsAccumulatedLosses 2017-04-05 01066685 core:RetainedEarningsAccumulatedLosses 2016-04-05 01066685 core:ShareCapital 2017-04-05 01066685 core:ShareCapital 2016-04-05 01066685 bus:Director3 2016-04-05 01066685 bus:Director3 2017-04-05 01066685 bus:Director3 2015-04-05 01066685 bus:Director3 2016-04-05 01066685 bus:Director3 2015-04-06 2016-04-05 01066685 bus:FRS102 2016-04-06 2017-04-05 01066685 bus:AuditExemptWithAccountantsReport 2016-04-06 2017-04-05 01066685 bus:AbridgedAccounts 2016-04-06 2017-04-05 01066685 bus:SmallCompaniesRegimeForAccounts 2016-04-06 2017-04-05 01066685 bus:PrivateLimitedCompanyLtd 2016-04-06 2017-04-05

Statement of Consent to Prepare Abridged Financial Statements

All of the members of Harry Marsh (Engineers) Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 5 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 01066685

Harry Marsh (Engineers) Limited

Unaudited Abridged Financial Statements

5 April 2017

Harry Marsh (Engineers) Limited

Abridged Financial Statements

Year ended 5 April 2017

Contents	Page

Directors' report	1

Accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of income and retained earnings	3

Abridged statement of financial position	4

Notes to the abridged financial statements	5

Harry Marsh (Engineers) Limited

Directors' Report

Year ended 5 April 2017

The directors present their report and the unaudited abridged financial statements of the company for the year ended 5 April 2017 .

Directors

The directors who served the company during the year were as follows:

Mr S Coady
Mr N Gibson	(Appointed 18 July 2016)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 12 October 2017 and signed on behalf of the board by:

S A Coady

Company Secretary

Registered office:

The Parade

Hendon

Sunderland

Tyne & Wear

SR2 8NT

Harry Marsh (Engineers) Limited

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Harry Marsh (Engineers) Limited

Year ended 5 April 2017

As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 5 April 2017, which comprise the abridged statement of income and retained earnings, abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

G W ACCOUNTANTS LIMITED Accountants

1 Jesmond Business Court 217 Jesmond Road Newcastle upon Tyne NE2 1LA

12 October 2017

Harry Marsh (Engineers) Limited

Abridged Statement of Income and Retained Earnings

Year ended 5 April 2017

	2017	2016
Note	£	£
Gross profit	1,437,501	1,308,994

Administrative expenses	1,434,539	1,255,430
	------------	------------
Operating profit	2,962	53,564

Other interest receivable and similar income		2,412	1,958
		------------	------------
Profit before taxation	5	5,374	55,522

Tax on profit	–	2,397
	-------	--------
Profit for the financial year and total comprehensive income	5,374	53,125
	-------	--------

Dividends paid and payable	( 56,500)	( 30,000)

Retained earnings at the start of the year	1,959,131	1,936,006
	------------	------------
Retained earnings at the end of the year	1,908,005	1,959,131
	------------	------------

All the activities of the company are from continuing operations.

Harry Marsh (Engineers) Limited

Abridged Statement of Financial Position

5 April 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	6		216,511	105,877

Current assets

Stocks	78,200	77,800
Debtors	1,153,581	841,815
Cash at bank and in hand	1,061,953	1,438,179
	------------	------------
	2,293,734	2,357,794

Creditors: amounts falling due within one year	598,240		500,540
	------------		------------
Net current assets		1,695,494	1,857,254
		------------	------------
Total assets less current liabilities		1,912,005	1,963,131
		------------	------------
Net assets		1,912,005	1,963,131
		------------	------------

Capital and reserves

Called up share capital	4,000	4,000
Profit and loss account	1,908,005	1,959,131
	------------	------------
Shareholders funds	1,912,005	1,963,131
	------------	------------

These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 5 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 12 October 2017 , and are signed on behalf of the board by:

Mr S Coady
Director

Company registration number: 01066685

Harry Marsh (Engineers) Limited

Notes to the Abridged Financial Statements

Year ended 5 April 2017

1. General information

The company is a private company limited by shares, registered in . The address of the registered office is The Parade, Hendon, Sunderland, Tyne & Wear, SR2 8NT.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 6 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on material timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 30 (2016: 29 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2017	2016
	£	£
Depreciation of tangible assets	42,528	26,566
	--------	--------

6. Tangible assets

	£
Cost
At 6 April 2016	1,183,091
Additions	153,162
	------------
At 5 April 2017	1,336,253
	------------
Depreciation
At 6 April 2016	1,077,214
Charge for the year	42,528
	------------
At 5 April 2017	1,119,742
	------------
Carrying amount
At 5 April 2017	216,511
	------------
At 5 April 2016	105,877
	------------

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr S Coady	( 839)	( 40,591)	( 41,430)
	----	--------	--------

	2016
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr S Coady	( 1,409)	570	( 839)
	-------	----	----

8. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 6 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.