Lee Hill Construction Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 01811184 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 August 2017

for

Lee Hill Construction Limited

Page

Company Information

1

Report of the Directors

2

Abridged Balance Sheet

3

Statement of Changes in Equity

5

Notes to the Financial Statements

6

Report of the Accountants

10

DIRECTORS:

N M Allinson

D Allinson

Mrs R Allinson

A Allinson

SECRETARY:

Mrs R Allinson

REGISTERED OFFICE:

Camphill Close

Dallamires Lane

Ripon

North Yorkshire

HG4 1QY

REGISTERED NUMBER:

01811184 (England and Wales)

ACCOUNTANTS:

Eura Audit UK

Lishman Chambers

12 Princes Square

Harrogate

North Yorkshire

HG1 1LY

The directors present their report with the financial statements of the company for the year ended 31 August 2017.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of supplying and servicing construction

machinery, plant hire, civil engineering works and construction of residential property.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2016 to the date of this

report.

N M Allinson

D Allinson

Mrs R Allinson

A Allinson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

N M Allinson - Director

24 April 2018

FIXED ASSETS

Tangible assets

4

610,775

536,447

CURRENT ASSETS

Stocks

1,413,562

1,636,511

Debtors

21,824

600

Cash at bank

589,970

302,117

2,025,356

1,939,228

CREDITORS

Amounts falling due within one year

841,683

879,388

NET CURRENT ASSETS

1,183,673

1,059,840

TOTAL ASSETS LESS CURRENT LIABILITIES

1,794,448

1,596,287

CREDITORS

Amounts falling due after more than one year

(470,691

)

(524,617

)

PROVISIONS FOR LIABILITIES

(117,672

)

(104,221

)

NET ASSETS

1,206,085

967,449

CAPITAL AND RESERVES

Called up share capital

6

1,000

1,000

Retained earnings

7

1,205,085

966,449

SHAREHOLDERS' FUNDS

1,206,085

967,449

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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Balance Sheet for the year ended 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 24 April 2018 and were signed on its behalf by:

N M Allinson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2015

1,000

794,804

795,804

Changes in equity

Total comprehensive income

-

171,645

171,645

Balance at 31 August 2016

1,000

966,449

967,449

Changes in equity

Total comprehensive income

-

238,636

238,636

Balance at 31 August 2017

1,000

1,205,085

1,206,085

1.	STATUTORY INFORMATION

Lee Hill 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 self-administered pension scheme in favour of certain directors.

The assets of the scheme are held separately from those of the company. No contributions were paid in either the

current or preceding year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 September 2016

1,600,819

Additions

216,717

Disposals

(66,150

)

At 31 August 2017

1,751,386

DEPRECIATION

At 1 September 2016

1,064,372

Charge for year

118,651

Eliminated on disposal

(42,412

)

At 31 August 2017

1,140,611

NET BOOK VALUE

At 31 August 2017

610,775

At 31 August 2016

536,447

Cost or valuation at 31 August 2017 is represented by:

Totals

£

Valuation in 1988

43,304

Cost

1,708,082

1,751,386

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

At 1 September 2016

1,486,444

Additions

216,717

Disposals

(66,150

)

At 31 August 2017

1,637,011

DEPRECIATION

At 1 September 2016

981,407

Charge for year

112,341

Eliminated on disposal

(42,412

)

Reclassification/transfer

7,338

At 31 August 2017

1,058,674

NET BOOK VALUE

At 31 August 2017

578,337

At 31 August 2016

505,037

5.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.17

31.8.16

£

£

Bank loans

149,949

172,609

Pension Scheme Loan

221,391

205,502

371,340

378,111

The bank holds a debenture over all current and future assets of the company dated 16 March 2012. The bank

loan is secured by a first legal charge over land and property at 8 Westgate, Ripon dated 30 April 2003 and first

legal charges dated 23 April 1991 and 12 June 2008 over development properties.

Loan to the Pension Scheme is secured by a first legal charge.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

£

1,000

Ordinary

£1

1,000

1,000

7.

RESERVES

Retained

earnings

£

At 1 September 2016

966,449

Profit for the year

238,636

At 31 August 2017

1,205,085

8.	RELATED PARTY DISCLOSURES

During the year Lee Hill Construction Limited entered into transactions with Lee Hill Pension Scheme to rent

property under normal commercial terms, at a rent of £18,000 per annum.

9.

PENSIONS

The company operates a defined contribution self-administered pension scheme in respect of certain directors

and employees. The assets of the scheme are held separately from those of the company.

10.	FIRST YEAR ADOPTION

The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention

and in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015) as at 1st

September 2016.

Reconciliation of equity

No transitional adjustments were required.

Reconciliation of profit or loss for the year

No transitional adjustments were required.

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 Balance Sheet. Readers are cautioned that the Abridged Statement of Comprehensive Income and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2017 set out on pages two to twelve and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Eura Audit UK

Lishman Chambers

12 Princes Square

Harrogate

North Yorkshire

HG1 1LY

26 April 2018