HILLFARM_MOTOR_ENGINEERS_ - Accounts

HILLFARM MOTOR ENGINEERS LTD - Company Information

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Company Registration No. 08840288 (England and Wales)

HILLFARM MOTOR ENGINEERS LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

HILLFARM MOTOR ENGINEERS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HILLFARM MOTOR ENGINEERS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

2,500

3,750

Tangible assets

7,119

9,525

9,619

13,275

Current assets

Stocks

5,000

Debtors

23,083

9,758

Cash at bank and in hand

6,963

7,771

35,046

22,529

Creditors: amounts falling due within one year

(56,871)

(35,315)

Net current liabilities

(21,825)

(12,786)

Total assets less current liabilities

(12,206)

489

Capital and reserves

Called up share capital

100

Profit and loss account

(12,306)

389

Shareholders' funds

(12,206)

489

For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his 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 and authorised for issue on 27 October 2016

Mr A S Ward

Director

Company Registration No. 08840288

HILLFARM MOTOR ENGINEERS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 2 -

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

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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:

Plant and machinery

20% straight line

Fixtures, fittings & equipment

25% straight line

Motor vehicles

25% reducing balance

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Pensions

1.8

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. The deferred tax balance has not been discounted.

HILLFARM MOTOR ENGINEERS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 February 2015 & at 31 January 2016

5,000

12,000

17,000

Depreciation

At 1 February 2015

1,250

2,475

3,725

Charge for the year

1,250

2,406

3,656

At 31 January 2016

2,500

4,881

7,381

Net book value

At 31 January 2016

2,500

7,119

9,619

At 31 January 2015

3,750

9,525

13,275

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100