Hadrian Air Conditioning Limited - Accounts to registrar (filleted) - small 17.3
Hadrian Air Conditioning Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2017 |
| for |
| Hadrian Air Conditioning And |
| Refrigeration Company Limited |
| Hadrian Air Conditioning And |
| Refrigeration Company Limited (Registered number: 01926785) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Hadrian Air Conditioning And |
| Refrigeration Company Limited |
| Company Information |
| for the Year Ended 31 August 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| and Business Advisers |
| Coburg House |
| 1 Coburg Street |
| Gateshead |
| Tyne & Wear |
| NE8 1NS |
| Hadrian Air Conditioning And |
| Refrigeration Company Limited (Registered number: 01926785) |
| Balance Sheet |
| 31 August 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| 136,147 | 121,936 |
| CURRENT ASSETS |
| Stocks |
| 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 | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| Hadrian Air Conditioning And |
| Refrigeration Company Limited (Registered number: 01926785) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2017 |
| 1. | STATUTORY INFORMATION |
| Hadrian Air Conditioning And Refrigeration Company Limited is a |
| registered in England and Wales. The company's registered number and registered office address can be found |
| on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 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. |
| This is the first year in which the financial statements have been prepared under the provisions of Section 1A |
| "Small Entities" of Financial Reporting Standard FRS 102 "The Financial Reporting Standard applicable in the |
| UK and Republic of Ireland". |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| The company provides supply, installation and maintenance services for air conditioning units. |
| Turnover is measured at the fair value of the consideration received or receivable stated net of discounts and |
| value added tax. |
| The company recognises revenue when the amount of revenue can be measured reliably, when it is probable |
| that future economic benefits will flow to the company and when specific criteria have been met for each of |
| the company's activities described below. |
| Sale of goods |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the |
| goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery |
| of the goods. |
| Rendering of services |
| Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
| The stage of completion of a contract is measured by comparing the costs incurred for work performed to date |
| to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when |
| the outcome of a contract cannot be estimated reliably. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Impairment of assets |
| At each reporting date fixed assets are reviewed to determine whether there is any indication that those |
| assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable |
| amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable |
| amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss |
| is recognised immediately in profit or loss. |
| If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised |
| estimate of its recoverable amount, but not in excess of the amount that would have been determined had no |
| impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised |
| immediately in profit or loss. |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is |
| calculated on a first in, first out basis. |
| Hadrian Air Conditioning And |
| Refrigeration Company Limited (Registered number: 01926785) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A |
| current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a |
| previous period. |
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses |
| in the financial statements and their inclusion in tax assessments. |
| 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 and other future taxable profits. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
| reporting date and that are expected to apply to the reversal of the timing difference. |
| Current and deferred tax assets and liabilities are not discounted. |
| 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. |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial |
| assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
| parties, loans to related parties and investments on non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting |
| period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss |
| is recognised in profit or loss. |
| Employee benefits |
| Short-term employee benefits are recognised as an expense in the period in which they are incurred. |
| Leasing |
| Assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same |
| manner as tangible fixed assets. The related obligations, net of future finance charges are included in |
| creditors. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2017 |
| DEPRECIATION |
| At 1 September 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2017 |
| NET BOOK VALUE |
| At 31 August 2017 |
| At 31 August 2016 |
| Hadrian Air Conditioning And |
| Refrigeration Company Limited (Registered number: 01926785) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdrafts |
| Hire purchase contracts | 93,684 | 75,773 |
| The bank overdraft is secured by way of a fixed and floating charge over the company's assets. |
| Hire purchase contracts are secured against the items of plant and machinery to which they relate and have a |
| carrying amount of £86,278. |
| 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 prepared under the previous FRSSE 2015 were for the year ended 31 August 2016. The |
| date of transition to FRS 102 was 1 September 2015. There were no adjustments to the company's balance |
| sheet at 1 September 2015 and 31 August 2016 on transition to FRS 102. |