Harman Electrical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06527822 (England and Wales)

HARMAN ELECTRICAL LIMITED

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J P Harman

SECRETARY:

Mr J P Harman

REGISTERED OFFICE:

Unit 14

Star West

Westmead Industrial Estate

Swindon

Wiltshire

SN5 7SW

REGISTERED NUMBER:

06527822 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Old Station House

Station Approach

Newport Street

Swindon

Wiltshire

SN1 3DU

FIXED ASSETS

Tangible assets

5

27,138

23,014

CURRENT ASSETS

Stocks

2,760

1,728

Debtors

55,994

31,043

Cash at bank

4,070

34,407

62,824

67,178

CREDITORS

Amounts falling due within one year

49,582

46,996

NET CURRENT ASSETS

13,242

20,182

TOTAL ASSETS LESS CURRENT LIABILITIES

40,380

43,196

CREDITORS

Amounts falling due after more than one year

(12,007

)

-

PROVISIONS FOR LIABILITIES

(2,669

)

(8,201

)

NET ASSETS

25,704

34,995

CAPITAL AND RESERVES

Called up share capital

1

1

Capital redemption reserve

1

1

Retained earnings

25,702

34,993

25,704

34,995

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 14 November 2018 and were signed by:

Mr J P Harman - Director

1.	STATUTORY INFORMATION

Harman Electrical 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

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.

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 pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

74,550

Additions

18,510

Disposals

(7,750

)

At 31 March 2018

85,310

DEPRECIATION

At 1 April 2017

51,536

Charge for year

10,562

Eliminated on disposal

(3,926

)

At 31 March 2018

58,172

NET BOOK VALUE

At 31 March 2018

27,138

At 31 March 2017

23,014

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

2018

2017

£

£

Net obligations repayable:

Within one year

3,343

-

Between one and five years

12,007

-

15,350

-

Non-cancellable

operating leases

2018

2017

£

£

Within one year

1,651

-

Between one and five years

3,027

-

4,678

-