HTS Design Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05161314 (England and Wales)

HTS Design Services Limited

Financial Statements for the Year Ended 30th June 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Bell

J M Clark

A Terry

SECRETARY:

M Bell

REGISTERED OFFICE:

1 Convent Lane

Great Thornton Street

Hull

East Yorkshire

HU3 2NT

REGISTERED NUMBER:

05161314 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

FIXED ASSETS

Intangible assets

4

31,503

36,003

Tangible assets

5

6,905

8,949

38,408

44,952

CURRENT ASSETS

Stocks

2,500

2,500

Debtors

6

86,637

86,443

Cash at bank and in hand

2,869

3,594

92,006

92,537

CREDITORS

Amounts falling due within one year

7

98,424

93,644

NET CURRENT LIABILITIES

(6,418

)

(1,107

)

TOTAL ASSETS LESS CURRENT LIABILITIES

31,990

43,845

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

31,988

43,843

SHAREHOLDERS' FUNDS

31,990

43,845

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 9th February 2018 and were signed on its behalf by:

M Bell - Director

1.	STATUTORY INFORMATION

HTS Design 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.

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

The company has adopted FRS 102 for the first time during the year ended 30 June 2017 and

consequently the transition date is 1 July 2015.

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 in 2004, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss)

for the current or past reporting periods. It is measured at the amount expected to be paid or recovered

using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date.

Deferred tax represents the future tax consequences of transactions and events recognised in the

financial statements of current and previous periods. It is recognised in respect of all timing

differences, with certain exceptions. Timing differences are differences between taxable profits and

total comprehensive income as stated in the financial statements that arise from the inclusion of

income and expense in tax assessments in periods different from those in which they are recognised

in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured

using the rates and allowances that apply to the sale of the asset.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2016 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st July 2016

and 30th June 2017

90,000

3

90,003

AMORTISATION

At 1st July 2016

54,000

-

54,000

Charge for year

4,500

-

4,500

At 30th June 2017

58,500

-

58,500

NET BOOK VALUE

At 30th June 2017

31,500

3

31,503

At 30th June 2016

36,000

3

36,003

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1st July 2016

and 30th June 2017

30,680

81,415

112,095

DEPRECIATION

At 1st July 2016

23,075

80,071

103,146

Charge for year

1,832

212

2,044

At 30th June 2017

24,907

80,283

105,190

NET BOOK VALUE

At 30th June 2017

5,773

1,132

6,905

At 30th June 2016

7,605

1,344

8,949

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

75,141

61,632

Other debtors

11,496

24,811

86,637

86,443

Included within other debtors is a balance of £nil (2016: £835) relating to a deferred tax asset.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

21,843

11,688

Trade creditors

1,055

6,785

Social security and other taxes

27,130

29,366

Directors' loan accounts

41,537

41,537

Accrued expenses

6,859

4,268

98,424

93,644

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

10,282

28,568

Between one and five years

2,884

9,000

13,166

37,568

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

10.	RELATED PARTY DISCLOSURES

11.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time during the year ended 30 June 2017 and

consequently the transition date is 1 July 2015.

The effect of transition from previous UK GAAP to FRS 102 is outlined below:

a) There were no consequential changes in accounting policies as a result of transition;

b) There were no adjustments to previously reported equity shareholders funds at the date of

transition;

c) There were no adjustments to the previously reported profit in the comparative period.