Peter Hepworth Components Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06529446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018

FOR

PETER HEPWORTH COMPONENTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

G P C Hepworth

Mrs C A Hepworth

SECRETARY:

G P C Hepworth

REGISTERED OFFICE:

3 & 4 Park Court

Riccall Road

Escrick

York

North Yorkshire

YO19 6ED

REGISTERED NUMBER:

06529446 (England and Wales)

ACCOUNTANTS:

CGA

Chartered Certified Accountants

3 & 4 Park Court

Riccall Road

Escrick

York

North Yorkshire

YO19 6ED

FIXED ASSETS

Intangible assets

4

33,800

50,700

Tangible assets

5

6,635

2,971

Investments

6

8,000

8,000

48,435

61,671

CURRENT ASSETS

Stocks

2,117

6,254

Debtors

7

76,141

37,984

Cash at bank and in hand

30,088

72

108,346

44,310

CREDITORS

Amounts falling due within one year

8

42,968

32,138

NET CURRENT ASSETS

65,378

12,172

TOTAL ASSETS LESS CURRENT LIABILITIES

113,813

73,843

PROVISIONS FOR LIABILITIES

217

565

NET ASSETS

113,596

73,278

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

113,594

73,276

SHAREHOLDERS' FUNDS

113,596

73,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 28th June 2018 and were signed on its behalf by:

G P C Hepworth - Director

1.	STATUTORY INFORMATION

Peter Hepworth Components 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.

Turnover

Turnover represents net invoiced goods, excluding value added tax.

Revenue is recognised once the goods have been sold and where it is virtually certain that payment will be

received.

Goodwill

Goodwill was restated to be amortised over 5 years from the 01/04/2015 date of transition to FRS102 1a.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2017

and 31st March 2018

130,000

AMORTISATION

At 1st April 2017

79,300

Charge for year

16,900

At 31st March 2018

96,200

NET BOOK VALUE

At 31st March 2018

33,800

At 31st March 2017

50,700

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1st April 2017

5,851

4,339

10,190

Additions

5,876

-

5,876

At 31st March 2018

11,727

4,339

16,066

DEPRECIATION

At 1st April 2017

4,000

3,219

7,219

Charge for year

1,932

280

2,212

At 31st March 2018

5,932

3,499

9,431

NET BOOK VALUE

At 31st March 2018

5,795

840

6,635

At 31st March 2017

1,851

1,120

2,971

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st April 2017

and 31st March 2018

8,000

NET BOOK VALUE

At 31st March 2018

8,000

At 31st March 2017

8,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

44,385

35,895

Other debtors

31,756

2,089

76,141

37,984

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

5,138

Trade creditors

13

13

Taxation and social security

41,623

23,483

Other creditors

1,332

3,504

42,968

32,138

The bank overdraft is secured by a debenture dated 11th April 2008 holding a fixed and floating charge over all

assets held by the company.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdraft

-

5,138

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year under review, directors received loans from the company which are interest free and repayable

on demand.

The company made advances totalling £86,817 (2017 - £75,619) and this was offset by credits totalling £54,977

(2017 - £77,127).

At the balance sheet date, the amount owed to the company was £29,668 (2017 - £2,172 owed to the director)

and is included within other debtors (2017 - other creditors).