H.D._STEELE_AND_SON_(TEVI - Accounts

H.D._STEELE_AND_SON_(TEVI - Accounts

H.D.STEELE AND SON (TEVILLE) LIMITED - Company Information

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Company Registration No. 00405987 (England and Wales)
H.D. STEELE AND SON (TEVILLE) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
H.D. STEELE AND SON (TEVILLE) LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
H.D. STEELE AND SON (TEVILLE) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF H.D. STEELE AND SON (TEVILLE) LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 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 H.D. Steele and Son (Teville) Limited for the year ended 28 February 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of H.D. Steele and Son (Teville) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of H.D. Steele and Son (Teville) Limited and state those matters that we have agreed to state to the Board of Directors of H.D. Steele and Son (Teville) 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 H.D. Steele and Son (Teville) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that H.D. Steele and Son (Teville) 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 H.D. Steele and Son (Teville) Limited. You consider that H.D. Steele and Son (Teville) 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 H.D. Steele and Son (Teville) 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.
Carpenter Box
2 November 2015
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
H.D. STEELE AND SON (TEVILLE) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
28 FEBRUARY 2015
28 February 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
68,321
81,958
Current assets
Stocks
242,479
278,015
Debtors
110,480
126,722
Cash at bank and in hand
149,815
129,514
502,774
534,251
Creditors: amounts falling due within one year
(237,466)
(300,400)
Net current assets
265,308
233,851
Total assets less current liabilities
333,629
315,809
Provisions for liabilities
(8,600)
(10,400)
325,029
305,409
Capital and reserves
Called up share capital
3
3,500
3,500
Share premium account
54,500
54,500
Other reserves
700
700
Profit and loss account
266,329
246,709
Shareholders'  funds
325,029
305,409
H.D. STEELE AND SON (TEVILLE) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2015
28 February 2015
- 3 -
For the financial year ended 28 February 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 October 2015
Mr A Steele
Mr B Steele
Director
Director
Company Registration No. 00405987
H.D. STEELE AND SON (TEVILLE) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 4 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents amounts receivable for goods and services in the course of ordinary activities net of VAT, other sales taxes and trade discounts, and includes bonuses and commission. Vehicle sales and related costs are recognised when contractual obligations are fulfilled.  Parts, service and fuel sales are recognised when the goods and services have been supplied.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings - short leasehold
10% to 20% per annum straight line
Plant and equipment
10% to 33% per annum straight line
Computer equipment
Over 2 to 7 years
Company vehicles
25% per annum reducing balance
1.4
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. Rentals receivable are accounted for when due.
1.5
Stock and work in progress
Stock and short term work in progress are valued at the lower of cost and net realisable value. Net realisable value is based on actual or estimated sales proceeds less all further completion and estimated selling costs. Parts stock is valued at average cost.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
H.D. STEELE AND SON (TEVILLE) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 5 -
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2014
535,523
Additions
19,791
Disposals
(4,078)
At 28 February 2015
551,236
Depreciation
At 1 March 2014
453,565
On disposals
(1,983)
Charge for the year
31,333
At 28 February 2015
482,915
Net book value
At 28 February 2015
68,321
At 28 February 2014
81,958
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
3,500 ordinary shares of £1 each
3,500
3,500
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