Holmes Metrotech Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08152965 (England and Wales)

HOLMES METROTECH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M P Kibble

P B Mardle

D Taylor

SECRETARY:

Mrs C S Kibble

REGISTERED OFFICE:

216-218 Main Road

Biggin Hill

Westerham

Kent

TN16 3BD

REGISTERED NUMBER:

08152965 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

39A Welbeck Street

London

W1G 8DH

FIXED ASSETS

Tangible assets

4

2,156

-

CURRENT ASSETS

Debtors

5

2,250,667

1,239,120

Cash at bank

320,445

750,383

2,571,112

1,989,503

CREDITORS

Amounts falling due within one year

6

1,927,059

1,531,947

NET CURRENT ASSETS

644,053

457,556

TOTAL ASSETS LESS CURRENT LIABILITIES

646,209

457,556

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

646,109

457,456

SHAREHOLDERS' FUNDS

646,209

457,556

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 20th December 2018 and were signed on its behalf by:

M P Kibble - Director

1.	STATUTORY INFORMATION

Holmes Metrotech 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The significant accounting policies applied in the preparation of the financial statements are set out below and

have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents net invoiced sales as adjusted for revenue recognition, excluding value added tax.

Revenue is recognised as contract activity progresses to reflect the company's partial performance of its

contractual obligations. The amount of revenue reflects the accrual of the right to consideration as contract

activity progresses by reference to the value of the work performed.

Long term contracts

Turnover in respect of long term contracts has been assessed by the directors on a contract by contract basis in a

manner appropriate to the stage of completion at the year end date. Profit on such contracts has been recognised

prudently, and net of foreseeable losses, so that it fairly reflects the profit attributable to that part of the work

performed at the year end date.

Tangible fixed assets

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

Computer equipment

-

20% on reducing balance

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

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.

Basic financial instruments

Trade and other debtors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs.

Subsequent to initial recognition, they are measured at transaction price less any impairment losses.

Trade and other creditors

Trade and other creditors are recognised initially at transaction price plus attributable transaction costs.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and deposits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2017 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

2,695

At 31st March 2018

2,695

DEPRECIATION

Charge for year

539

At 31st March 2018

539

NET BOOK VALUE

At 31st March 2018

2,156

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

24,740

46,414

Amounts owed by group undertakings

47,652

2,400

Amounts recoverable on contract

2,124,748

1,190,206

Other debtors

53,527

100

2,250,667

1,239,120

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,660,783

1,184,930

Amounts owed to group undertakings

56,970

84,037

Taxation and social security

97,416

169,097

Other creditors

111,890

93,883

1,927,059

1,531,947

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE PARENT COMPANY

Holmes Group (UK) Limited is the immediate and ultimate holding company which owns 85% of the issued

share capital of the company.