SR Howell & Co (Peterborough) Limited Filleted accounts for Companies House (small and micro)

SR HOWELL & CO (PETERBOROUGH) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06665273

SR Howell & Co (Peterborough) Limited

Filleted Unaudited Financial Statements

31 March 2018

SR Howell & Co (Peterborough) Limited

Financial Statements

Year Ended 31 March 2018

Contents	Pages

Officers and professional advisers	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

SR Howell & Co (Peterborough) Limited

Officers and Professional Advisers

The board of directors	Mr S J Gamble
	Mr J P Capper

Company secretary	Mr S J Gamble

Registered office	88 High Street
	Ramsey
	Huntingdon
	Cambs
	PE26 1BS

SR Howell & Co (Peterborough) Limited

Statement of Financial Position

31 March 2018

	2018	2017
Note	£	£

Fixed assets

Intangible assets	5	–	256,023
Tangible assets	6	–	9,335
		----	---------
		–	265,358

Current assets

Stocks		–	37,901
Debtors	7	579,302	102,477
Cash at bank and in hand		32,122	47,512
		---------	---------
		611,424	187,890

Creditors: amounts falling due within one year	8	169,048	173,823
		---------	---------
Net current assets		442,376	14,067
		---------	---------
Total assets less current liabilities		442,376	279,425

Creditors: amounts falling due after more than one year	9	–	21,593
		---------	---------
Net assets		442,376	257,832
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	442,276	257,732
	---------	---------
Shareholders funds	442,376	257,832
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SR Howell & Co (Peterborough) Limited

Statement of Financial Position (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 18 December 2018 , and are signed on behalf of the board by:

„„„„„„„„„„„„„

Mr J P Capper Director

Company registration number: 06665273

SR Howell & Co (Peterborough) Limited

Notes to the Financial Statements

Year Ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 88 High Street, Ramsey, Huntingdon, Cambs, PE26 1BS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

3.1 Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

3.2 Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

3.3 Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

3.4 Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.

3.5 Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Straight line over 25 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

3.6 Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

3.7 Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant & Machinery	-	15-25% reducing balance

3.8 Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3.9 Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

3.10 Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2017: 11 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2017	286,108
Additions	–
Acquisitions through business combinations	5,164
Disposals of previously acquired businesses	( 291,272)
	---------
At 31 March 2018	–
	---------
Amortisation
At 1 April 2017	30,085
Charge for the year	13,601
Disposals of previously acquired businesses	( 43,686)
	---------
At 31 March 2018	–
	---------
Carrying amount
At 31 March 2018	–
	---------
At 31 March 2017	256,023
	---------

6. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 April 2017	23,822	23,822
Additions	2,217	2,217
Disposals	( 26,039)	( 26,039)
	--------	--------
At 31 March 2018	–	–
	--------	--------
Depreciation
At 1 April 2017	14,487	14,487
Charge for the year	1,513	1,513
Disposals	( 16,000)	( 16,000)
	--------	--------
At 31 March 2018	–	–
	--------	--------
Carrying amount
At 31 March 2018	–	–
	--------	--------
At 31 March 2017	9,335	9,335
	--------	--------

7. Debtors

	2018	2017
	£	£
Trade debtors	83,874	85,208
Other debtors	495,428	17,269
	---------	---------
	579,302	102,477
	---------	---------

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	21,593	26,576
Trade creditors	2,195	11,294
Corporation tax	50,283	14,043
Social security and other taxes	44,518	37,669
Other creditors	50,459	84,241
	---------	---------
	169,048	173,823
	---------	---------

9. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Bank loans and overdrafts	–	21,593
	----	--------

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr S J Gamble	( 34,724)	100	( 34,624)
Mr J P Capper	( 13,432)	77,379	63,947
	--------	--------	--------
	( 48,156)	77,479	29,323
	--------	--------	--------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr S J Gamble	( 35,024)	300	( 34,724)
Mr J P Capper	( 44,711)	31,279	( 13,432)
	--------	--------	--------
	( 79,735)	31,579	( 48,156)
	--------	--------	--------