Henners Construction Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08521553 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Henners Construction Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I S R Henry

Mrs B Henry

REGISTERED OFFICE:

First Floor, CEF Building

Broomhill Way

Torquay

Devon

TQ2 7QN

REGISTERED NUMBER:

08521553 (England and Wales)

ACCOUNTANTS:

Mark Ward Chartered Certified Accountants

First Floor, CEF Building

Broomhill Way

Torquay

Devon

TQ2 7QN

FIXED ASSETS

Tangible assets

4

7,434

9,910

CURRENT ASSETS

Stocks

392,461

-

Debtors

5

4,585

2,943

Cash at bank

1,877

161,207

398,923

164,150

CREDITORS

Amounts falling due within one year

6

347,480

78,195

NET CURRENT ASSETS

51,443

85,955

TOTAL ASSETS LESS CURRENT LIABILITIES

58,877

95,865

CREDITORS

Amounts falling due after more than one year

7

(50,000

)

(50,000

)

PROVISIONS FOR LIABILITIES

(1,487

)

(1,982

)

NET ASSETS

7,390

43,883

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7,290

43,783

SHAREHOLDERS' FUNDS

7,390

43,883

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 27 February 2018 and were signed on its behalf by:

I S R Henry - Director

1.	STATUTORY INFORMATION

Henners Construction 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.

Critical accounting judgements and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and

assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that

are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised if the revision affects only that period, or in the

period of the revision and future periods if the revision affects both current and future periods.

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

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

Plant and machinery etc

-

25% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

20,723

DEPRECIATION

At 1 June 2016

10,813

Charge for year

2,476

At 31 May 2017

13,289

NET BOOK VALUE

At 31 May 2017

7,434

At 31 May 2016

9,910

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Other debtors

4,585

2,943

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

131,950

-

Taxation and social security

2,445

21,936

Other creditors

213,085

56,259

347,480

78,195

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Other creditors

50,000

50,000

Other creditors represents the balance of the director's loan account with the company. There are no fixed

terms for repayment and no interest is charged on the outstanding amount. The director does not intend to

withdraw any of the balance within the next 12 months.

8.	FIRST YEAR ADOPTION

Transition to FRS 102.

The company transitioned to FRS 102 from previously extant UK GAAP as at 1 June 2015.

There were no changes to the previously stated equity as at 1 June 2015 and 31 May 2016 or in the profit for

the year ended 31 May 2016 as a result of the transition to FRS 102.