R S Henderson Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC228534 (Scotland)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

R S Henderson Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S D Henderson

T M Henderson

SECRETARY:

T M Henderson

REGISTERED OFFICE:

Cullivoe

Yell

Shetland

ZE2 9DD

REGISTERED NUMBER:

SC228534 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Tangible assets

4

2,299,816

1,884,176

Investments

5

15,000

10,000

2,314,816

1,894,176

CURRENT ASSETS

Stocks

57,281

50,429

Debtors

6

968,748

982,872

Cash at bank

38,543

166,164

1,064,572

1,199,465

CREDITORS

Amounts falling due within one year

7

618,661

584,552

NET CURRENT ASSETS

445,911

614,913

TOTAL ASSETS LESS CURRENT LIABILITIES

2,760,727

2,509,089

CREDITORS

Amounts falling due after more than one year

8

(522,823

)

(442,004

)

PROVISIONS FOR LIABILITIES

(146,342

)

(136,996

)

NET ASSETS

2,091,562

1,930,089

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,091,560

1,930,087

SHAREHOLDERS' FUNDS

2,091,562

1,930,089

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 11 January 2019 and were signed on its behalf by:

S D Henderson - Director

T M Henderson - Director

1.	STATUTORY INFORMATION

R S Henderson Limited is a private company, limited by shares , registered in Scotland. 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.

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

-

20% on reducing balance

Computer equipment

-

33% 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 June 2017

443,638

3,184,588

-

8,793

3,637,019

Additions

457,204

386,319

10,797

2,355

856,675

Disposals

-

(296,249

)

-

-

(296,249

)

At 31 May 2018

900,842

3,274,658

10,797

11,148

4,197,445

DEPRECIATION

At 1 June 2017

-

1,747,321

-

5,522

1,752,843

Charge for year

-

318,033

2,102

3,360

323,495

Eliminated on disposal

-

(178,709

)

-

-

(178,709

)

At 31 May 2018

-

1,886,645

2,102

8,882

1,897,629

NET BOOK VALUE

At 31 May 2018

900,842

1,388,013

8,695

2,266

2,299,816

At 31 May 2017

443,638

1,437,267

-

3,271

1,884,176

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 June 2017

1,526,176

Additions

346,250

Disposals

(290,389

)

Transfer to ownership

(449,530

)

At 31 May 2018

1,132,507

DEPRECIATION

At 1 June 2017

630,466

Charge for year

165,094

Eliminated on disposal

(176,231

)

Transfer to ownership

(252,142

)

At 31 May 2018

367,187

NET BOOK VALUE

At 31 May 2018

765,320

At 31 May 2017

895,710

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2017

10,000

Additions

5,000

At 31 May 2018

15,000

NET BOOK VALUE

At 31 May 2018

15,000

At 31 May 2017

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

758,964

690,980

Other debtors

209,784

291,892

968,748

982,872

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Bank loans and overdrafts

28,950

17,400

Hire purchase contracts

228,129

274,558

Trade creditors

234,100

198,009

Taxation and social security

79,575

60,082

Other creditors

47,907

34,503

618,661

584,552

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Bank loans

199,757

118,814

Hire purchase contracts

323,066

323,190

522,823

442,004

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

83,957

49,214