HARRIER GRABS LIMITED - Filleted accounts

HARRIER GRABS LIMITED - Filleted accounts

HARRIER GRABS LIMITED - Company Information

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Registered number
06533882
HARRIER GRABS LIMITED
Filleted Accounts
30 June 2017
HARRIER GRABS LIMITED
Registered number: 06533882
Balance Sheet
as at 30 June 2017
Notes 2017 2016
- -
Fixed assets
Tangible assets 2 67,652 64,253
Current assets
Debtors 3 458,249 349,770
Cash at bank and in hand 164,415 191,121
622,664 540,891
Creditors: amounts falling due within one year 4 (193,365) (240,495)
Net current assets 429,299 300,396
Net assets 496,951 364,649
Capital and reserves
Called up share capital 98 98
Profit and loss account 5 496,853 364,551
Shareholder's funds 496,951 364,649
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A.Kavanagh
Director
Approved by the board on 31 January 2018
HARRIER GRABS LIMITED
Notes to the Accounts
for the year ended 30 June 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Tangible fixed assets
Motor vehicles
0
Cost
At 1 July 2016 201,293
Additions 25,950
At 30 June 2017 227,243
Depreciation
At 1 July 2016 137,040
Charge for the year 22,551
At 30 June 2017 159,591
Net book value
At 30 June 2017 67,652
At 30 June 2016 64,253
3 Debtors 2017 2016
- -
Trade debtors 454,874 349,768
Sundry debtors 3,375 2
458,249 349,770
4 Creditors: amounts falling due within one year 2017 2016
- -
Trade creditors 148,765 172,147
Taxation and social security costs 43,911 38,659
Other creditors 689 29,689
193,365 240,495
5 Profit & Loss Account 2,017
As at 1 July 2016 364,551
Profit for the year 181,422
Dividends proposed (49,120)
Dividend paid -
496,853
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