The Hand Laundry (Bury) Limited - Limited company accounts 16.1

The Hand Laundry (Bury) Limited - Limited company accounts 16.1


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REGISTERED NUMBER: 00244914(England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

THE HAND LAUNDRY (BURY) LIMITED

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

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Profit and Loss Account 4

Statement of Total Recognised Gains and Losses 5

Balance Sheet 6

Notes to the Financial Statements 7


THE HAND LAUNDRY (BURY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2015







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

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

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2015


The directors present their report with the financial statements of the company for the year ended 31 December 2015.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2015 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 provisions of Part 15 of the Companies Act 2006 relating to small
companies.

ON BEHALF OF THE BOARD:





Ms J I Murray- Director


22 September 2016

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


We have audited the financial statements of The Hand Laundry (Bury) Limited for the year ended 31 December 2015 on
pages four to eleven. The financial reporting framework that has been applied in their preparation is applicable law and
the Financial Reporting Standard for Smaller Entities (effective January 2015) (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.

Scope of the audit of the financial statements
A description of the scope of an audit of financial statements is provided on the FRC's website at
www.frc.org.uk/apb/scope/private.cfm.


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 2015 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
THE HAND LAUNDRY (BURY) LIMITED


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

23 September 2016

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

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2015

2015 2014
Notes £    £   

TURNOVER 578,030 528,539

Administrative expenses 369,619 440,954
OPERATING PROFIT 2 208,411 87,585

Loss on sale of fixed assets - 3,531
208,411 84,054

Interest receivable and similar income 83 202
208,494 84,256

Interest payable and similar charges - 280
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

208,494

83,976

Tax on profit on ordinary activities 3 43,690 18,281
PROFIT FOR THE FINANCIAL YEAR 164,804 65,695

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

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
FOR THE YEAR ENDED 31 DECEMBER 2015

2015 2014
£    £   

PROFIT FOR THE FINANCIAL YEAR 164,804 65,695
Unrealised surplus (deficit) on
revaluation of investment properties - (22,461 )
TOTAL RECOGNISED GAINS AND LOSSES
RELATING TO THE YEAR

164,804

43,234

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

BALANCE SHEET
31 DECEMBER 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 489,928 498,714
Investments 6 8,974,000 8,974,000
9,463,928 9,472,714

CURRENT ASSETS
Debtors 7 68,433 39,551
Cash at bank and in hand 133,980 122,663
202,413 162,214
CREDITORS
Amounts falling due within one year 8 258,890 220,928
NET CURRENT LIABILITIES (56,477 ) (58,714 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,407,451

9,414,000

CREDITORS
Amounts falling due after more than one
year

9

(2,000

)

(2,000

)

PROVISIONS FOR LIABILITIES 12 (3,604 ) (3,859 )
NET ASSETS 9,401,847 9,408,141

CAPITAL AND RESERVES
Called up share capital 13 31,200 31,200
Revaluation reserve 14 2,841,963 2,841,963
General Reserve 14 15,000 15,000
Capital Reserve 14 31,245 31,245
Profit and loss account 14 6,482,439 6,488,733
SHAREHOLDERS' FUNDS 9,401,847 9,408,141

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).


The financial statements were approved by the Board of Directors on 22 September 2016and were signed on its behalf
by:





Ms J I Murray- Director


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

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015


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 January
2015).

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:

2015 2014
£    £   
Depreciation - owned assets 13,831 15,001
Auditors' remuneration 8,800 8,800
Pension costs 7,822 9,352

Directors' remuneration and other benefits etc 134,896 111,015

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

Money purchase schemes 1 1

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2015


3. TAXATION

Analysis of the tax charge
The tax charge on the profit on ordinary activities for the year was as follows:
2015 2014
£    £   
Current tax:
UK corporation tax 43,945 20,428

Deferred tax (255 ) (2,147 )
Tax on profit on ordinary activities 43,690 18,281

4. DIVIDENDS
2015 2014
£    £   
Ordinary shares of £1 each
Interim 171,098 70,952

5. TANGIBLE FIXED ASSETS
Freehold Long Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 January 2015 160,817 401,175 34,991 22,545 619,528
Additions - - 5,045 - 5,045
At 31 December 2015 160,817 401,175 40,036 22,545 624,573
DEPRECIATION
At 1 January 2015 46,645 40,117 29,543 4,509 120,814
Charge for year 3,131 4,012 2,179 4,509 13,831
At 31 December 2015 49,776 44,129 31,722 9,018 134,645
NET BOOK VALUE
At 31 December 2015 111,041 357,046 8,314 13,527 489,928
At 31 December 2014 114,172 361,058 5,448 18,036 498,714

6. FIXED ASSET INVESTMENTS
Investment
Properties
£   
COST OR VALUATION
At 1 January 2015
and 31 December 2015 8,974,000
NET BOOK VALUE
At 31 December 2015 8,974,000
At 31 December 2014 8,974,000

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2015


6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2015 is represented by:

Investment
Properties
£   
Valuation in 2006 2,113,263
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
Valuation in 2014 (22,461 )
Cost 6,358,526
8,974,000

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

2015 2014
£    £   
Cost 6,358,526 6,358,526
Aggregate provisions 1,294,483 1,294,483

Investment properties were valued on a review basis on 30 September 2015 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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2015 2014
£    £   
Trade debtors 52,137 24,461
Prepayments and accrued income 16,296 15,090
68,433 39,551

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2015


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2015 2014
£    £   
Trade creditors 13,100 8,980
Corporation tax 43,945 20,428
Social security and other taxes 29,337 27,831
Other creditors 34,164 34,263
Directors' loan accounts - 764
Accruals and deferred income 138,344 128,662
258,890 220,928

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2015 2014
£    £   
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:

2015 2014
£    £   
Expiring:
In more than five years 19,295 21,988

12. PROVISIONS FOR LIABILITIES
2015 2014
£    £   
Deferred tax 3,604 3,859

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2015


12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2015 3,859
Credit to Profit and Loss Account during year (255 )
Balance at 31 December 2015 3,604

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
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 2015 6,488,733 2,841,963 15,000 31,245 9,376,941
Profit for the year 164,804 - - - 164,804
Dividends (171,098 ) - - - (171,098 )
At 31 December 2015 6,482,439 2,841,963 15,000 31,245 9,370,647

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 capital loss for corporation tax purposes.

15. PENSION COMMITMENTS

The Pension Scheme is a defined contributions scheme, and is a fully insured scheme. Contributions due of
£7,822 (2014: £9,352) for the year have been paid during the year, at rates determined by the scheme.

16. RELATED PARTY DISCLOSURES

Mr D J Bayne, Mr J W Bayne, Mrs S M K Bayne and J I Murray are deemed to be related parties by virtue of
the Directorships and shareholdings.

During the year the Directors of the company were entitled to dividends in line with their shareholdings. The
aggregate dividends paid in the year amounted to £103,098.

In addition, dividends were paid to other shareholders in the year amounting to £68,000.

17. ULTIMATE CONTROLLING PARTY

As far as the Directors are concerned, no one individual controls the company.