Home Delivery Solutions Limited - Period Ending 2017-12-31
Home Delivery Solutions Limited - Period Ending 2017-12-31
Registration number:
Home Delivery Solutions Limited
Information for Filing with The Registrar
31 December 2017
Home Delivery Solutions Limited
(Registration number: 06966113)
Balance Sheet
31 December 2017
Note |
2017 |
2016 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
NET CURRENT LIABILITIES |
( |
( |
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provision for liabilities |
( |
( |
|
|
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
TOTAL EQUITY |
|
|
For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
As permitted by section 444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's Profit and Loss Account.
Page 1 |
Home Delivery Solutions Limited
(Registration number: 06966113)
Balance Sheet
31 December 2017
Approved and authorised by the
S.J. Taylor
Director
Page 2 |
Home Delivery Solutions Limited
Notes to the Accounts
Year Ended 31 December 2017
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis on the assumption that the creditors will continue their support for the foreseeable future.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises corporation and deferred tax.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Page 3 |
Home Delivery Solutions Limited
Notes to the Accounts
Year Ended 31 December 2017
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
10 years straight line basis |
Leasehold property |
10 years straight line basis |
Motor vehicles |
10 years straight line basis |
Equipment |
3 years straight line basis |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
10 years straight line basis |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Page 4 |
Home Delivery Solutions Limited
Notes to the Accounts
Year Ended 31 December 2017
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company during the year, was
Page 5 |
Home Delivery Solutions Limited
Notes to the Accounts
Year Ended 31 December 2017
Intangible assets |
Goodwill |
Total |
|
Cost or valuation |
||
At 1 January 2017 |
|
|
At 31 December 2017 |
|
|
Amortisation |
||
At 1 January 2017 |
|
|
Amortisation charge |
|
|
At 31 December 2017 |
|
|
Carrying amount |
||
At 31 December 2017 |
|
|
At 31 December 2016 |
|
|
Tangible assets |
Long leasehold land and buildings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
|
Cost or valuation |
|||||
At 1 January 2017 |
|
|
|
|
|
Additions |
- |
- |
|
|
|
Disposals |
- |
- |
- |
( |
( |
At 31 December 2017 |
|
|
|
|
|
Depreciation |
|||||
At 1 January 2017 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
( |
At 31 December 2017 |
|
|
|
|
|
Carrying amount |
|||||
At 31 December 2017 |
|
|
|
|
|
At 31 December 2016 |
|
|
|
|
|
Included within the net book value of land and buildings above is £33,928 (2016 - £41,262) in respect of leasehold land and buildings.
Page 6 |
Home Delivery Solutions Limited
Notes to the Accounts
Year Ended 31 December 2017
Debtors |
2017 |
2016 |
|
Trade debtors |
|
|
Other debtors |
|
|
|
|
Creditors |
Note |
2017 |
2016 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Amounts due to related parties |
|
|
|
Corporation tax |
- |
|
|
Other taxes and social security |
|
|
|
Other creditors |
|
|
|
|
|
Note |
2017 |
2016 |
|
Due after one year |
|||
Loans and borrowings |
|
|
Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
|||
No. |
£ |
No. |
£ |
|
|
|
1 |
|
1 |
Page 7 |
Home Delivery Solutions Limited
Notes to the Accounts
Year Ended 31 December 2017
Loans and borrowings |
2017 |
2016 |
|
Non-current loans and borrowings |
||
Finance lease liabilities |
|
|
2017 |
2016 |
|
Current loans and borrowings |
||
Finance lease liabilities |
|
|
Other borrowings |
|
|
|
|
Related party transactions |
Other transactions with director |
S.J. Taylor has made an interest free loan to the company. At the balance sheet date the amount due to him was £2,744 (2016 - £3,863).
Summary of transactions with entities with joint control or significant interest
S.J. Taylor is a director of three other companies which had transactions with Home Delivery Solutions Limited during the year.
Sales of £97,409 and purchases of £162,612 were made on normal commercial terms and a recharge of labour of £52,486 was made.
At the balance sheet date the aggregate amount due to these companies was £22,108 (2016 - £64,794).
Page 8 |