Hemyock Engineering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08165127 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

HEMYOCK ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

J Brooke

T K Ayres

REGISTERED OFFICE:

Jewells Farm

Hemyock

Cullompton

Devon

EX15 3PX

REGISTERED NUMBER:

08165127 (England and Wales)

ACCOUNTANTS:

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

FIXED ASSETS

Tangible assets

4

432,548

439,046

CURRENT ASSETS

Debtors

5

603,867

708,975

Cash at bank and in hand

34,300

7,752

638,167

716,727

CREDITORS

Amounts falling due within one year

6

609,455

538,827

NET CURRENT ASSETS

28,712

177,900

TOTAL ASSETS LESS CURRENT LIABILITIES

461,260

616,946

CREDITORS

Amounts falling due after more than one year

7

(110,290

)

(128,546

)

PROVISIONS FOR LIABILITIES

(12,180

)

(16,669

)

NET ASSETS

338,790

471,731

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

200,000

200,000

Retained earnings

138,690

271,631

SHAREHOLDERS' FUNDS

338,790

471,731

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 30 June 2021 and were signed on its behalf by:

J Brooke - Director

1.	STATUTORY INFORMATION

Hemyock Engineering 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 etc

-

20% on cost, 20% on reducing balance, Straight line over 20 years and Straight line over 10 years

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 held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 October 2019

55,287

706,187

16,803

112,921

891,198

Additions

-

93,250

196

28,152

121,598

Disposals

-

-

-

(15,990

)

(15,990

)

At 30 September 2020

55,287

799,437

16,999

125,083

996,806

DEPRECIATION

At 1 October 2019

11,647

379,469

8,901

52,135

452,152

Charge for year

2,763

100,459

1,582

20,094

124,898

Eliminated on disposal

-

-

-

(12,792

)

(12,792

)

At 30 September 2020

14,410

479,928

10,483

59,437

564,258

NET BOOK VALUE

At 30 September 2020

40,877

319,509

6,516

65,646

432,548

At 30 September 2019

43,640

326,718

7,902

60,786

439,046

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2019

321,150

106,922

428,072

Additions

73,250

13,657

86,907

Disposals

-

(15,990

)

(15,990

)

At 30 September 2020

394,400

104,589

498,989

DEPRECIATION

At 1 October 2019

154,820

51,235

206,055

Charge for year

55,441

17,262

72,703

Eliminated on disposal

-

(12,792

)

(12,792

)

At 30 September 2020

210,261

55,705

265,966

NET BOOK VALUE

At 30 September 2020

184,139

48,884

233,023

At 30 September 2019

166,330

55,687

222,017

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

327,233

432,453

Other Loans

259,000

259,000

Tax

14,111

14,111

Prepayments

3,523

3,411

603,867

708,975

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Finance leases

92,604

69,843

Trade creditors

19,242

130,174

Social security and other taxes

4,744

2,667

VAT

104,729

116,251

Amount owed by other companies

350,261

175,501

Directors' current accounts

36,075

40,491

Accrued expenses

1,800

3,900

609,455

538,827

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.20

30.9.19

£

£

Finance leases

110,290

128,546

8.

RESERVES

Revaluation

reserve

£

At 1 October 2019

and 30 September 2020

200,000

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Brooke Group Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hemyock Engineering Limited for the year ended 30 September 2020 which comprise the Income Statement, Balance Sheet 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hemyock Engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hemyock Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Hemyock Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hemyock Engineering Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hemyock Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hemyock Engineering Limited. You consider that Hemyock Engineering Limited 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 financial statements of Hemyock Engineering Limited. 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 financial statements.

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

30 June 2021