Merry Hill Private Hire Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03434604 (England and Wales)

Financial Statements for the Year Ended 31 August 2017

for

Merry Hill Private Hire Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

C B Cooper

S Cooper

SECRETARY:

C B Cooper

REGISTERED OFFICE:

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

BUSINESS ADDRESS:

26 Shearwater Drive

Amblecote

Stourbridge

West Midlands

DY5 2RD

REGISTERED NUMBER:

03434604 (England and Wales)

ACCOUNTANTS:

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. 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 Merry Hill Private Hire Limited for the year ended 31 August 2017 which comprise the Income

Statement, Statement of Financial Position, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Merry Hill Private Hire 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 Merry Hill Private Hire Limited and state those matters that we have agreed to state to the Board of Directors of Merry Hill Private Hire Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Merry Hill Private Hire 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 Merry Hill Private Hire Limited. You consider that Merry Hill Private Hire 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 Merry Hill Private Hire 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.

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

16 January 2018

FIXED ASSETS

Property, plant and equipment

4

702,336

757,041

CURRENT ASSETS

Debtors

5

110,111

49,223

Cash at bank

19,517

8,159

129,628

57,382

CREDITORS

Amounts falling due within one year

6

282,571

197,056

NET CURRENT LIABILITIES

(152,943

)

(139,674

)

TOTAL ASSETS LESS CURRENT LIABILITIES

549,393

617,367

CREDITORS

Amounts falling due after more than one year

7

(307,367

)

(336,772

)

PROVISIONS FOR LIABILITIES

9

(133,452

)

(139,363

)

NET ASSETS

108,574

141,232

CAPITAL AND RESERVES

Called up share capital

10

480

480

Retained earnings

108,094

140,752

SHAREHOLDERS' FUNDS

108,574

141,232

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 16 January 2018 and were signed on its behalf by:

C B Cooper - Director

1.	STATUTORY INFORMATION

Merry Hill Private Hire 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.

The company has adopted FRS 102 (Section 1A) for the first time in the year ended 31 August 2017.

The financial statements are presented in pound sterling which is the functional currency of the company and

rounded to the nearest £.

Turnover

Revenue 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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

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 23 .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 September 2016

27,694

1,210,226

1,237,920

Additions

3,459

205,850

209,309

Disposals

-

(274,291

)

(274,291

)

At 31 August 2017

31,153

1,141,785

1,172,938

DEPRECIATION

At 1 September 2016

16,700

464,179

480,879

Charge for year

1,872

117,745

119,617

Eliminated on disposal

-

(129,894

)

(129,894

)

At 31 August 2017

18,572

452,030

470,602

NET BOOK VALUE

At 31 August 2017

12,581

689,755

702,336

At 31 August 2016

10,994

746,047

757,041

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

22,738

26,008

Other debtors

84,871

16,781

Directors' accounts

142

1,290

Prepayments

2,360

5,144

110,111

49,223

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other loans

19,056

-

Hire purchase contracts

178,444

157,376

Trade creditors

44,308

21,840

Corporation tax

22,768

-

Social security and other taxes

5,200

5,158

Other creditors

5,803

9,172

Directors' accounts

1,611

-

Accruals and deferred income

5,381

3,510

282,571

197,056

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

307,367

336,772

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

9,632

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

485,811

490,794

The bank overdraft is secured by a debenture dated 11 July 2011 comprising a fixed and floating charge over the

assets of the company in favour of the company's bankers, HSBC Bank plc.

Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

9.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

133,452

139,363

Deferred

tax

£

Balance at 1 September 2016

139,363

Movement in the year

(5,911

)

Balance at 31 August 2017

133,452

A deferred tax provision has arisen as a result of accelerated capital allowances.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

480

Ordinary

£1

480

480

11.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102 (Section 1A). The last financial

statements under the UK GAAP were for the year ended 31 August 2016. The date of transition to FRS 102 was

1 September 2015.