Hand Laundry (Bury) Limited (The) - Limited company accounts 11.4

Hand Laundry (Bury) Limited (The) - Limited company accounts 11.4


002449141.1.1331.12.1331.12.13Company accountsPrivate Limited CompanyFYtruefalsetruefalsefalsefalsetruefalsefalseOrdinary1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure002449142012-12-31002449142013-12-31002449142013-01-012013-12-31002449142011-12-31002449142012-01-012012-12-31002449142012-12-3100244914ns12:England2013-01-012013-12-3100244914ns14:PoundSterling2013-01-012013-12-3100244914ns7:Director12013-01-012013-12-3100244914ns7:OrdinaryShareClass12013-01-012013-12-3100244914ns7:Director22013-01-012013-12-3100244914ns7:Director32013-01-012013-12-3100244914ns7:Director42013-01-012013-12-3100244914ns7:CompanySecretary2013-01-012013-12-3100244914ns7:RegisteredOffice2013-01-012013-12-3100244914ns7:EntityAccountantsOrAuditors2013-01-012013-12-3100244914ns7:EntityAccountantsOrAuditors2013-12-3100244914ns5:LandBuildingsns5:OwnedOrFreeholdTangibleFixedAssets2013-01-012013-12-3100244914ns5:LongLeaseholdPropertiesns5:LandBuildings2013-01-012013-12-3100244914ns5:PlantMachinery2013-01-012013-12-3100244914ns5:MotorVehicles2013-01-012013-12-3100244914ns5:OwnedOrFreeholdTangibleFixedAssets2013-01-012013-12-3100244914ns5:OwnedOrFreeholdTangibleFixedAssets2012-01-012012-12-3100244914ns7:EntityAccountantsOrAuditors2012-01-012012-12-3100244914ns7:AllEntityOfficers2013-01-012013-12-3100244914ns7:AllEntityOfficers2012-01-012012-12-3100244914ns5:DividendsPaid2013-01-012013-12-3100244914ns5:DividendsPaid2012-01-012012-12-3100244914ns5:LandBuildingsns5:OwnedOrFreeholdTangibleFixedAssets2012-12-3100244914ns5:LongLeaseholdPropertiesns5:LandBuildings2012-12-3100244914ns5:PlantMachinery2012-12-3100244914ns5:MotorVehicles2012-12-3100244914ns5:LandBuildingsns5:OwnedOrFreeholdTangibleFixedAssets2013-12-3100244914ns5:LongLeaseholdPropertiesns5:LandBuildings2013-12-3100244914ns5:PlantMachinery2013-12-3100244914ns5:MotorVehicles2013-12-3100244914ns5:LandBuildingsns5:OwnedOrFreeholdTangibleFixedAssets2012-12-3100244914ns5:LongLeaseholdPropertiesns5:LandBuildings2012-12-3100244914ns5:PlantMachinery2012-12-3100244914ns5:MotorVehicles2012-12-3100244914ns5:SharesUnlistedFixedAssetInvestments2013-12-3100244914ns5:SharesUnlistedFixedAssetInvestments2012-12-3100244914ns5:ProvisionsForDeferredTaxation2012-12-3100244914ns5:ProvisionsForDeferredTaxation2013-01-012013-12-3100244914ns5:ProvisionsForDeferredTaxation2013-12-3100244914ns7:OrdinaryShareClass12013-12-3100244914ns7:OrdinaryShareClass12012-12-31
REGISTERED NUMBER: 00244914(England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

HAND LAUNDRY (BURY) LIMITED (THE)

HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2013










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Profit and Loss Account 5

Statement of Total Recognised Gains and Losses 6

Balance Sheet 7

Notes to the Financial Statements 8


HAND LAUNDRY (BURY) LIMITED (THE)

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2013







DIRECTORS: Mr J W Bayne
Mrs S M K Bayne
Ms J I Murray
Mr D J Bayne





SECRETARY: Mrs S M K Bayne





REGISTERED OFFICE: 75 Park Lane
Croydon
Surrey
CR9 1XS





REGISTERED NUMBER: 00244914(England and Wales)





AUDITORS: Kings Mill Partnership
Chartered Accountants and Statutory Auditors
75 Park Lane
Croydon
Surrey
CR9 1XS

HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2013


The directors present their report with the financial statements of the company for the year ended 31 December 2013.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2013 to the date of this
report.

Mr J W Bayne
Mrs S M K Bayne
Ms J I Murray
Mr D J Bayne

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with
applicable law and regulations.

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 judgements 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 are sufficient to show and explain the
company's transactions and 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act
2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have
taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the
company's auditors are aware of that information.

AUDITORS
The auditors, Kings Mill Partnership, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating
to small companies.

ON BEHALF OF THE BOARD:





Ms J I Murray- Director


26 September 2014

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HAND LAUNDRY (BURY) LIMITED (THE)


We have audited the financial statements of Hand Laundry (Bury) Limited (The) for the year ended 31 December 2013
on pages five to twelve. The financial reporting framework that has been applied in their preparation is applicable law
and the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted
Accounting Practice applicable to Smaller Entities).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's
members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of directors and auditors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's (APB's) Ethical Standards for Auditors, including "APB Ethical Standard - Provisions Available for Small Entities (Revised)", in the circumstances set out in note sixteen to the financial statements.

Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error.
This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and
have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by
the directors; and the overall presentation of the financial statements. In addition, we read all the financial and
non-financial information in the Report of the Directors to identify material inconsistencies with the audited financial
statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent
with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material
misstatements or inconsistencies we consider the implications for our report.


Opinion on financial statements
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2013 and of its profit for the year
then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
applicable to Smaller Entities; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matter prescribed by the Companies Act 2006
In our opinion the information given in the Report of the Directors for the financial year for which the financial
statements are prepared is consistent with the financial statements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HAND LAUNDRY (BURY) LIMITED (THE)


Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you
if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and
take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing
the Report of the Directors.




Paul Taylor FCA(Senior Statutory Auditor)
for and on behalf of Kings Mill Partnership
Chartered Accountants and Statutory Auditors
75 Park Lane
Croydon
Surrey
CR9 1XS

29 September 2014

HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2013

2013 2012
Notes £    £   

TURNOVER 526,752 514,676

Administrative expenses 371,736 419,930
OPERATING PROFIT 2 155,016 94,746

Interest receivable and similar income 815 4,023
155,831 98,769

Interest payable and similar charges 140 140
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

155,691

98,629

Tax on profit on ordinary activities 3 33,101 22,359
PROFIT FOR THE FINANCIAL YEAR 122,590 76,270

HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
FOR THE YEAR ENDED 31 DECEMBER 2013

2013 2012
£    £   

PROFIT FOR THE FINANCIAL YEAR 122,590 76,270
Unrealised surplus (deficit) on
revaluation of investment properties 224,475 (310,781 )
TOTAL RECOGNISED GAINS AND LOSSES
RELATING TO THE YEAR

347,065

(234,511
)

HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

BALANCE SHEET
31 DECEMBER 2013

2013 2012
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 519,159 535,994
Investments 6 8,996,461 8,455,841
9,515,620 8,991,835

CURRENT ASSETS
Debtors 7 58,805 44,595
Cash at bank and in hand 99,641 350,264
158,446 394,859
CREDITORS
Amounts falling due within one year 8 230,201 242,612
NET CURRENT (LIABILITIES)/ASSETS (71,755 ) 152,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,443,865

9,144,082

CREDITORS
Amounts falling due after more than one
year

9

(2,000
)
(2,000
)

PROVISIONS FOR LIABILITIES 12 (6,006 ) (7,766 )
NET ASSETS 9,435,859 9,134,316

CAPITAL AND RESERVES
Called up share capital 13 31,200 31,200
Revaluation reserve 14 2,864,424 2,639,949
General Reserve 14 15,000 15,000
Capital Reserve 14 31,245 31,245
Profit and loss account 14 6,493,990 6,416,922
SHAREHOLDERS' FUNDS 9,435,859 9,134,316

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).


The financial statements were approved by the Board of Directors on 26 September 2014and were signed on its behalf
by:





Ms J I Murray- Director


HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2013


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April
2008).

Turnover
Turnover represents the value of the letting of small commercial and industrial units during the year, excluding
Value Added Tax, and all arises within the UK.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost
Long leasehold - in accordance with the property
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost

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
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

Investment properties
Investment Properties are included in the Balance Sheet at a market value based on current rental income, as
valued by the Directors. Changes in the value of the Investment Properties are not reflected in the Profit and
Loss Account but are disclosed as a movement on the Investment Property Revaluation Reserve.

2. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2013 2012
£    £   
Depreciation - owned assets 19,203 18,654
Profit on disposal of fixed assets - (9,637 )
Auditors' remuneration 8,800 8,800
Pension costs 9,265 8,663

Directors' remuneration and other benefits etc 120,314 148,635

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2013


3. TAXATION

Analysis of the tax charge
The tax charge on the profit on ordinary activities for the year was as follows:
2013 2012
£    £   
Current tax:
UK corporation tax 34,861 13,592

Deferred tax (1,760 ) 8,767
Tax on profit on ordinary activities 33,101 22,359

4. DIVIDENDS
2013 2012
£    £   
Ordinary shares of £1 each
Final 17,613 16,848
Interim 27,909 10,296
45,522 27,144

5. TANGIBLE FIXED ASSETS
Freehold Long Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 January 2013 160,817 401,175 32,386 43,516 637,894
Additions - - 2,368 - 2,368
At 31 December 2013 160,817 401,175 34,754 43,516 640,262
DEPRECIATION
At 1 January 2013 40,412 32,093 22,808 6,587 101,900
Charge for year 3,097 4,012 3,391 8,703 19,203
At 31 December 2013 43,509 36,105 26,199 15,290 121,103
NET BOOK VALUE
At 31 December 2013 117,308 365,070 8,555 28,226 519,159
At 31 December 2012 120,405 369,082 9,578 36,929 535,994

HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2013


6. FIXED ASSET INVESTMENTS
Investment
Properties
£   
COST OR VALUATION
At 1 January 2013 8,455,841
Additions 316,145
Revaluations 224,475
At 31 December 2013 8,996,461
NET BOOK VALUE
At 31 December 2013 8,996,461
At 31 December 2012 8,455,841

Cost or valuation at 31 December 2013 is represented by:

Investment
Properties
£   
Valuation in 2004 617,864
Valuation in 2005 117,450
Valuation in 2006 1,377,949
Valuation in 2007 547,995
Valuation in 2008 55,134
Valuation in 2009 39,634
Valuation in 2010 (235,154 )
Valuation in 2011 203,369
Valuation in 2012 (310,781 )
Valuation in 2013 224,475
Cost 6,358,526
8,996,461

If Investment properties had not been revalued they would have been included at the following historical cost:

2013 2012
£    £   
Cost 6,054,756 6,054,756
Aggregate provisions (1,173,388 ) (1,052,293 )

Investment properties were valued on a rental basis on 31 December 2013 by the directors .

The Companies Act 2006 requires that Fixed Assets are depreciated over their useful economic lives, however,
in the case of Investment Properties the Financial Reporting Standard for Smaller Entities states that this
accounting treatment would not show a true and fair view and that Investment Properties should be shown at
their market value. Accordingly, depreciation has not been charged

HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2013


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2013 2012
£    £   
Trade debtors 39,280 31,763
Other debtors - 1,179
Directors' loan accounts 2,387 -
Prepayments and accrued income 17,138 11,653
58,805 44,595

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2013 2012
£    £   
Loan from shareholders - 376
Trade creditors 11,657 -
Corporation tax 34,861 13,592
Social security and other taxes 24,222 28,221
Other creditors 32,244 24,103
Accruals and deferred income 127,217 176,320
230,201 242,612

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2013 2012
£    £   
Preference shares (see note 10) 2,000 2,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 2,000 2,000

10. PREFERENCE SHARES

Details of shares shown as liabilities as follows:

Allotted and issued:
Number: Class: Nominal 2012 2011
value: £    £   
2,000 7% Preference £1 2,000 2,000

11. OPERATING LEASE COMMITMENTS

The following operating lease payments are committed to be paid within one year:

2013 2012
£    £   
Expiring:
In more than five years 21,988 21,988

HAND LAUNDRY (BURY) LIMITED (THE) (REGISTERED NUMBER: 00244914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2013


12. PROVISIONS FOR LIABILITIES
2013 2012
£    £   
Deferred tax 6,006 7,766

Deferred
tax
£   
Balance at 1 January 2013 7,766
Credit to profit and loss account during year (1,760 )
Balance at 31 December 2013 6,006

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2013 2012
value: £    £   
31,200 Ordinary £1 31,200 31,200

14. RESERVES
Profit
and loss Revaluation General Capital
account reserve Reserve Reserve Totals
£    £    £    £    £   

At 1 January 2013 6,416,922 2,639,949 15,000 31,245 9,103,116
Profit for the year 122,590 - - - 122,590
Dividends (45,522 ) - - - (45,522 )
Revaluation of investment
properties - 224,475 - - 224,475
At 31 December 2013 6,493,990 2,864,424 15,000 31,245 9,404,659

Corporation tax has not been provided in respect of the above revaluation. If all the properties were sold at the
market value shown they would give rise to a tax liability of £149,622.

15. PENSION COMMITMENTS

The Pension Scheme is a defined contributions scheme, and is a fully insured scheme. Contributions due of
£9,236 (2012 £8,663) for the year have been paid during the year, at rates determined by the scheme.

16. APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns
to the tax authorities, to provide tax advice and to represent us, as necessary, at tax tribunals, and assist with the
preparation of the financial statements.