Hobson Smith (Construction) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02807994 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

Hobson Smith (Construction) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

T Hobson

A Smith

SECRETARY:

T Hobson

REGISTERED OFFICE:

Unit 4

Portrack Grange Close

Stockton on Tees

Cleveland

TS18 2PU

REGISTERED NUMBER:

02807994 (England and Wales)

ACCOUNTANTS:

G D O'Hehir & Co Ltd

Chartered Accountants

22/23 Clyde Terrace

Spennymoor

Co. Durham

DL16 7SE

FIXED ASSETS

Tangible assets

2

11,183

17,530

CURRENT ASSETS

Stocks

265,000

Debtors

114,926

125,965

Cash at bank and in hand

120,877

18,264

500,803

409,229

CREDITORS

Amounts falling due within one year

453,919

364,158

NET CURRENT ASSETS

46,884

45,071

TOTAL ASSETS LESS CURRENT
LIABILITIES

58,067

62,601

CREDITORS

Amounts falling due after more than one
year

(10,183

)

(30,403

)

PROVISIONS FOR LIABILITIES

(973

)

(1,965

)

NET ASSETS

46,911

30,233

CAPITAL AND RESERVES

Called up share capital

3

10,000

Profit and loss account

36,911

20,233

SHAREHOLDERS' FUNDS

46,911

30,233

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 14 February 2017 and were signed on its behalf
by:

T Hobson - 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 January 2015).

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 the cost less estimated residual value of each asset over its estimated useful life.

Fixtures & Fittings

- 20% on reducing balance

Motor Vehicles

- 25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

70,563

Additions

517

At 31 May 2016

71,080

DEPRECIATION

At 1 June 2015

53,033

Charge for year

6,864

At 31 May 2016

59,897

NET BOOK VALUE

At 31 May 2016

11,183

At 31 May 2015

17,530

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

10,000

Ordinary Shares

£1

10,000

4.	GOING CONCERN REVIEW

The directors are not aware of any reason why sales should reduce significantly next year. No material

uncertainties that may cast significant doubt on the ability of the company to continue as a going concern have

been identified. As a result they have adopted the going concern basis of accounting.