Harley Engineering Limited - Accounts to registrar (filleted) - small 17.3
Harley Engineering Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2017 |
| for |
| Harley Engineering Limited |
| Harley Engineering Limited (Registered number: 01541080) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Harley Engineering Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Congress House |
| 14 Lyon Road |
| Harrow |
| Middlesex |
| HA1 2EN |
| Harley Engineering Limited (Registered number: 01541080) |
| Balance Sheet |
| 31 March 2017 |
| 31.3.17 | 31.3.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 10 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| Harley Engineering Limited (Registered number: 01541080) |
| Balance Sheet - continued |
| 31 March 2017 |
| 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 |
| Harley Engineering Limited (Registered number: 01541080) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Harley Engineering Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Going concern |
| During the year ended 31 March 2016 the company's liabilities exceeded its assets. The directors are satisfied |
| that the going concern basis is appropriate for the preparation of these financial statements and have confirmed |
| that they will continue to support the company for the foreseeable future. |
| 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 |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| 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 |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Harley Engineering Limited (Registered number: 01541080) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | STOCKS |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Harley Engineering Limited (Registered number: 01541080) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Other creditors |
| 9. | PROVISIONS FOR LIABILITIES |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Deferred tax | 119 | 10,625 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2016 |
| Provided during year | ( |
) |
| Balance at 31 March 2017 |
| 10. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2016 |
| and 31 March 2017 |
| 11. | RELATED PARTY DISCLOSURES |
| Other creditors balance of £15,622 (2016: £34,283) relates to Liberate Engineering Limited, a company where |
| Mr Dennis K Whitfield is also a director. |
| The other long term creditors of £377,125 (2016: £177,125) consist of a loan of £177,125 (2016: £177,125) to |
| Mr D K Whitfiled (this is an interest free loan with no fixed repayment date) and £200,000 (2016: 2,00,000) |
| relates to Whitfield Associates a partnership where Mr Dennis K Whitfield is also a partner. |
| At the year-end company was owed a balance of £2,650 (2016: £2,650) by Whitfield Estates, a partnership |
| where Mr Dennis K Whitfield is also a partner. |
| At the year-end a balance of £206,016 (2016: £206,016) included in trade creditors relates to Whitfield |
| Associates a partnership where Mr Dennis K Whitfield is also a partner. |
| 12. | FIRST YEAR ADOPTION |
| There were no transitional adjustments due to adoption of FRS 102 (1A) during the year. |