HI Speed Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03695819 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

HI Speed Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Dawkins

J W Boazman

Mrs K J Dawkins

SECRETARY:

J Burmingham

REGISTERED OFFICE:

Brinell Building

Lysons Avenue

Ash Vale

Aldershot

GU12 5QF

REGISTERED NUMBER:

03695819 (England and Wales)

ACCOUNTANTS:

Sumner & Moore Limited

The Studio

377 - 399 London Road

Camberley

Surrey

GU15 3HL

FIXED ASSETS

Tangible assets

4

1,125,798

909,624

CURRENT ASSETS

Debtors

5

1,111,104

1,137,081

Cash at bank and in hand

249,258

138,859

1,360,362

1,275,940

CREDITORS

Amounts falling due within one year

6

1,510,124

1,324,193

NET CURRENT LIABILITIES

(149,762

)

(48,253

)

TOTAL ASSETS LESS CURRENT LIABILITIES

976,036

861,371

CREDITORS

Amounts falling due after more than one year

7

(343,311

)

(242,987

)

PROVISIONS FOR LIABILITIES

(104,219

)

(100,310

)

NET ASSETS

528,506

518,074

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

528,406

517,974

SHAREHOLDERS' FUNDS

528,506

518,074

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 12 December 2017 and were signed on its behalf by:

I Dawkins - Director

1.	STATUTORY INFORMATION

HI Speed Services 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

25% on cost, 15% on cost and in accordance with the property

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.

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 80 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

1,736,057

Additions

560,405

Disposals

(217,315

)

At 30 September 2017

2,079,147

DEPRECIATION

At 1 October 2016

826,433

Charge for year

275,204

Eliminated on disposal

(148,288

)

At 30 September 2017

953,349

NET BOOK VALUE

At 30 September 2017

1,125,798

At 30 September 2016

909,624

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

Plant and

machinery

etc

£

COST

At 1 October 2016

827,133

Additions

466,569

Disposals

(9,429

)

At 30 September 2017

1,284,273

DEPRECIATION

At 1 October 2016

266,049

Charge for year

196,590

Eliminated on disposal

(4,286

)

At 30 September 2017

458,353

NET BOOK VALUE

At 30 September 2017

825,920

At 30 September 2016

561,084

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

843,722

932,038

Other debtors

267,382

205,043

1,111,104

1,137,081

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Hire purchase contracts (see note 8)

256,951

190,189

Trade creditors

512,562

378,828

Taxation and social security

216,554

271,255

Other creditors

524,057

483,921

1,510,124

1,324,193

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Hire purchase contracts (see note 8)

343,311

242,987

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30.9.17

30.9.16

£

£

Gross obligations repayable:

Within one year

278,092

207,411

Between one and five years

362,630

255,060

640,722

462,471

Finance charges repayable:

Within one year

21,141

17,222

Between one and five years

19,319

12,073

40,460

29,295

Net obligations repayable:

Within one year

256,951

190,189

Between one and five years

343,311

242,987

600,262

433,176

Non-cancellable operating

leases

30.9.17

30.9.16

£

£

Within one year

294,576

159,576

Between one and five years

1,236,472

656,588

In more than five years

1,302,706

905,926

2,833,754

1,722,090

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.17

30.9.16

£

£

Hire purchase contracts

600,262

433,176

Amounts due to factoring co.

399,698

381,146

999,960

814,322

The hire purchase advances are secured on the assets to which they relate.The advance from the factoring

company is secured by a fixed charge over the trade debtors. The bank overdraft is secured by a personal

guarantee from Mr I Dawkins.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2017 and

30 September 2016:

30.9.17

30.9.16

£

£

J W Boazman

Balance outstanding at start of year

7,091

8,291

Amounts repaid

(1,200

)

(1,200

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,891

7,091