Holden Timber Engineering Ltd - Accounts

Holden Timber Engineering Ltd - Accounts

HOLDEN TIMBER ENGINEERING LIMITED - Company Information

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Registered Number: 03556948
England and Wales

 

 

 


Unaudited Financial Statements

for the period ended 30 March 2019

for

HOLDEN TIMBER ENGINEERING LTD

Holden Timber Engineering Ltd
Contents Page
For the period ended 30 March 2019
Directors Russell Holden
Kevin Anderson
Registered Number 03556948
Registered Office Stonewall Farm
Lower Road
Hemingstone, Ipswich
IP69RT
Accountants Quove Accounting Ltd
The Vision Centre
5 Eastern Way
Bury St Edmunds
IP32 7AB
1
The directors present their annual report and the financial statements for the year ended 30 March 2019
Principal activities
The companys principal activity during the year was the manufacture and sale of engineered timber goods.
Directors
The directors who served the company throughout the period were as follows:
Russell Holden
Kevin Anderson

Statement of Directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Each director who held office at the date of approval of this directors' report confirms that
  • So far as the director is aware , there is no relevant audit information needed by the company’s auditor in connection with preparing their report, of which the company auditor is unaware and
  • The director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies regime

This report has been prepared taking advantage of the exemptions for small companies within Part 15 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.


----------------------------------
Russell Holden
Director

Date approved: 28 November 2019
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Holden Timber Engineering Ltd for the year ended 30 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Holden Timber Engineering Ltd for the year ended 30 March 2019 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Holden Timber Engineering Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Holden Timber Engineering Ltd and state those matters that we have agreed to state to the Board of Directors of Holden Timber Engineering Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Holden Timber Engineering Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Holden Timber Engineering Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Holden Timber Engineering Ltd . You consider that Holden Timber Engineering Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Holden Timber Engineering Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 March 2019



....................................................
Quove Accounting Ltd
The Vision Centre
5 Eastern Way
Bury St Edmunds
IP32 7AB
28 November 2019
3
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Tangible fixed assets 2 227,753    87,082 
227,753    87,082 
Current assets      
Stocks 3 104,747    25,500 
Debtors 4 1,382,438    963,757 
Cash at bank and in hand 227,061    324,007 
1,714,246    1,313,264 
Creditors: amount falling due within one year 5 (935,937)   (495,824)
Net current assets 778,309    817,440 
 
Total assets less current liabilities 1,006,062    904,522 
Provisions for liabilities 6 (13,291)   (18,319)
Net assets 992,771    886,203 
 

Capital and reserves 		     
Called up share capital 18,000    18,000 
Reserves 7 2,000    2,000 
Profit and loss account 972,771    866,203 
Shareholders funds 992,771    886,203 
 


For the period ended 30 March 2019 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
Signed on behalf of the board of directors


--------------------------------
Russell Holden
Director		--------------------------------
Kevin Anderson
Director

Date approved by the board: 28 November 2019
4
  Equity share capital   Capital redemption reserve   Retained Earnings   Total
£ £ £ £
At 01 April 2017 18,000  2,000  776,549  796,549 
Profit for the period 212,103  212,103 
Total comprehensive income for the period -  -  212,103  212,103 
Dividends (122,449) (122,449)
Total investments by and distributions to owners -  -  (122,449) (122,449)
At 31 March 2018 (as restated) 18,000  2,000  866,203  886,203 
At 01 April 2018 18,000  2,000  866,203  886,203 
Profit for the period 269,833  269,833 
Total comprehensive income for the period -  -  269,833  269,833 
Dividends (163,265) (163,265)
Total investments by and distributions to owners -  -  (163,265) (163,265)
At 30 March 2019 18,000  2,000  972,771  992,771 
5
General Information
Holden Timber Engineering Ltd is a private company, limited by shares , registered in England and Wales , registration number 03556948 , registration address Stonewall Farm, Lower Road, Hemingstone, Ipswich, IP69RT.

The presentation currency is £ sterling
1.

Accounting Policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard)
2.

Tangible fixed assets

Cost Plant and Machinery   Total
  £   £
At 01 April 2018 389,361    389,361 
Additions 156,436    156,436 
Disposals -    - 
At 30 March 2019 545,797    545,797 
Depreciation
At 01 April 2018 302,279    302,279 
Charge for period 15,765    15,765 
On disposals -    - 
At 30 March 2019 318,044    318,044 
Net book values
Closing balance as at 30 March 2019 227,753    227,753 
Opening balance as at 01 April 2018 87,082    87,082 

The net book value of Plant and Machinery includes £156,436 in respect of assets leased under finance leases or hire purchase contracts.

3.

Stocks

2019
£		   2018
£
Stocks 104,747    25,500 
104,747    25,500 

4.

Debtors: amounts falling due within one year

2019
£		   2018
£
Trade Debtors 239,869    283,862 
Amount Owed by Group Undertakings 1,096,307    673,178 
Other Debtors 17,017    6,717 
Corporation Tax 29,245    - 
1,382,438    963,757 

5.

Creditors: amount falling due within one year

2019
£		   2018
£
Trade Creditors 620,240    325,289 
Other Creditors 99,452    92,641 
Obligations under HP/Financial Leases 156,436    - 
VAT 59,809    77,894 
935,937    495,824 

6.

Provisions for liabilities

2019
£		   2018
£
Deferred Tax 13,291    18,319 
13,291    18,319 

7.

Reserves

2019
£		   2018
£
Capital Redemption Reserve b/fwd 2,000    2,000 
2,000    2,000 

6