Neon Hire Services Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06261835 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2015

FOR

NEON HIRE SERVICES LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

R Maisey

N P Lane

SECRETARY:

R Maisey

REGISTERED OFFICE:

Unit 27

Icknield Way Farm

Tring Road

Dunstable

Bedfordshire

LU6 2JX

REGISTERED NUMBER:

06261835 (England and Wales)

ACCOUNTANTS:

Novitt Harris & Co Limited

Chartered Accountants

Ver House

London Road

Markyate

Hertfordshire

AL3 8JP

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Neon Hire Services Limited for the year ended 31 January 2015 which comprise the Profit and

Loss Account, the 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Neon Hire Services Limited, as a body, in accordance with the terms of our engagement letter dated 28 July 2009. Our work has been undertaken solely to prepare for your approval the financial statements of Neon Hire Services Limited and state those matters that we have agreed to state to the Board of Directors of Neon Hire Services Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Neon Hire Services 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 profit of Neon Hire Services Limited. You consider that Neon Hire Services 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 Neon Hire Services 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.

Novitt Harris & Co Limited

Chartered Accountants

Ver House

London Road

Markyate

Hertfordshire

AL3 8JP

26 October 2015

FIXED ASSETS

Tangible assets

2

1,397,644

840,313

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

402,244

278,034

Cash at bank and in hand

85,863

53,927

493,107

336,961

CREDITORS

Amounts falling due within one year

3

745,727

538,789

NET CURRENT LIABILITIES

(252,620

)

(201,828

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,145,024

638,485

CREDITORS

Amounts falling due after more than one year

3

(565,084

)

(284,948

)

PROVISIONS FOR LIABILITIES

(142,259

)

(69,704

)

NET ASSETS

437,681

283,833

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

437,581

283,733

SHAREHOLDERS' FUNDS

437,681

283,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 October 2015 and were signed on its behalf by:

N P Lane - Director

R Maisey - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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 cost and 20% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2014

1,400,253

Additions

808,236

Disposals

(76,275

)

At 31 January 2015

2,132,214

DEPRECIATION

At 1 February 2014

559,940

Charge for year

231,698

Eliminated on disposal

(57,068

)

At 31 January 2015

734,570

NET BOOK VALUE

At 31 January 2015

1,397,644

At 31 January 2014

840,313

3.

CREDITORS

Creditors include an amount of £ 843,771 (31.1.14 - £ 524,737 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.15

31.1.14

value:

£

£

98

Ordinary £1 Shares

£1

98

98

2

Ordinary £1 A Shares

£1

2

2

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2015 and

31 January 2014:

31.1.15

31.1.14

£

£

N P Lane and R Maisey

Balance outstanding at start of year

(7,003

)

(15,223

)

Amounts advanced

86,362

69,502

Amounts repaid

(75,057

)

(61,282

)

Balance outstanding at end of year

4,302

(7,003

)

Included in amounts repaid above are dividends of £60,000 (2014: £60,000).