Huw Parsons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04888834 (England and Wales)

HUW PARSONS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr H O L Parsons

SECRETARY:

Mrs B J Parsons

REGISTERED OFFICE:

Derwent

Feidr Tywod

Penparc

Cardigan

Ceredigion

SA43 1RE

REGISTERED NUMBER:

04888834 (England and Wales)

ACCOUNTANTS:

D M B Davies Limited

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

170,988

174,682

170,988

174,682

CURRENT ASSETS

Stocks

50

300

Debtors

1,486

-

Cash at bank

20,977

46,274

22,513

46,574

CREDITORS

Amounts falling due within one year

4,716

7,598

NET CURRENT ASSETS

17,797

38,976

TOTAL ASSETS LESS CURRENT LIABILITIES

188,785

213,658

PROVISIONS FOR LIABILITIES

3,921

2,975

NET ASSETS

184,864

210,683

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

184,764

210,583

SHAREHOLDERS' FUNDS

184,864

210,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement and an abridged Balance Sheet for the year ended 30 September 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 16 January 2019 and were signed by:

Mr H O L Parsons - Director

1.	STATUTORY INFORMATION

Huw Parsons 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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.

Plant and machinery etc

-

25% on reducing balance and 15% 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2017

and 30 September 2018

30,000

AMORTISATION

At 1 October 2017

and 30 September 2018

30,000

NET BOOK VALUE

At 30 September 2018

-

At 30 September 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2017

243,076

Additions

1,850

At 30 September 2018

244,926

DEPRECIATION

At 1 October 2017

68,394

Charge for year

5,544

At 30 September 2018

73,938

NET BOOK VALUE

At 30 September 2018

170,988

At 30 September 2017

174,682

6.	ULTIMATE CONTROLLING PARTY