Hargrave Timber Limited Filleted accounts for Companies House (small and micro)

HARGRAVE TIMBER LIMITED - Company Information

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Hargrave Timber Limited

Unaudited financial statements

30 June 2018

Company Registration Number 04004113

Hargrave Timber Limited

Financial statements

year ended 30 June 2018

Contents	Page

Balance sheet 1

Notes to the financial statements 3

Hargrave Timber Limited

Balance sheet

30 June 2018

		2017
Note	£	£

Current assets

Cash at bank and in hand	21,076		21,180

Creditors: amounts falling due within one year	4	( 2,883)		( 2,882)
		--------		--------
Net current assets			18,193	18,298
			--------	--------
Total assets less current liabilities			18,193	18,298
			--------	--------

Hargrave Timber Limited

Balance sheet (continued)

30 June 2018

		2017
Note	£	£

Capital and reserves

Called up share capital	1,500,000	1,500,000
Profit and loss account	( 1,481,807)	( 1,481,702)
	------------	------------
Shareholders funds	18,193	18,298
	------------	------------

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 profit and loss account and director's report have not been delivered.

For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 8 March 2019 , and are signed on behalf of the board by:

Mr N R Good
Director

Company registration number: 04004113

Hargrave Timber Limited

Notes to the financial statements

year ended 30 June 2018

1. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2. Accounting policies

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

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. Tangible assets

	Fixtures and fittings	Equipment	Total

Cost
At 1 July 2017 and 30 June 2018	10,227	6,825	17,052
	--------	-------	--------
Depreciation
At 1 July 2017 and 30 June 2018	10,227	6,825	17,052
	--------	-------	--------
Carrying amount
At 30 June 2018	–	–	–
	--------	-------	--------
At 30 June 2017	–	–	–
	--------	-------	--------

4. Creditors: amounts falling due within one year

		2017
	£	£

Trade creditors	2,883	2,882
	-------	-------

5. Related party transactions

The company was under the control of Mr N R Good throughout the current and previous year. Mr N R Good is the managing director and majority shareholder.

6. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2-6 North Parade, Grantham, Lincolnshire, NG31 8AN.