Hastings Drummond Limited - Period Ending 2016-08-31

Registration number: 06586029

Hastings Drummond Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Critchleys LLP
Beaver House
23-38 Hythe Bridge Street
Oxford
OX1 2EP

Hastings Drummond Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Hastings Drummond Limited - Registration number: 06586029
Balance Sheet as at 31 August 2016

		Note			2016						2015
	£			£			£			£
Fixed assets
Tangible fixed assets		2						33,193						47,898
Current assets
Stocks					10,500						5,000
Debtors					28,266						75,891
Cash at bank and in hand					15,166						18,126
					53,932						99,017
Creditors: Amounts falling due within one year					(147,408)						(149,236)
Net current liabilities								(93,476)						(50,219)
Total assets less current liabilities								(60,283)						(2,321)
Creditors: Amounts falling due after more than one year								(12,857)						-
Net liabilities								(73,140)						(2,321)
Capital and reserves
Called up share capital		4			1						1
Profit and loss account					(73,141)						(2,322)
Shareholders' deficit								(73,140)						(2,321)

The notes on pages 3 to 5 form an integral part of these financial statements.
  Page 1

Hastings Drummond Limited - Registration number: 06586029
Balance Sheet as at 31 August 2016
......... continued

For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 29 September 2017

.........................................
Mr P K Drummond
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
  Page 2

Hastings Drummond Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis, on the understanding that the company will continue to receive financial support from its director.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Short leasehold land and buildings	Over the lease life
Plant and machinery	1/3 straight line basis
Fixtures and fittings	25% Reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Hastings Drummond Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		89,824			89,824
Additions		10,856			10,856
Disposals		(15,983)			(15,983)
At 31 August 2016		84,697			84,697
Depreciation
At 1 September 2015		41,926			41,926
Charge for the year		18,818			18,818
Eliminated on disposals		(9,240)			(9,240)
At 31 August 2016		51,504			51,504
Net book value
At 31 August 2016		33,193			33,193
At 31 August 2015		47,898			47,898

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		4,285			-

The Director has personally guaranteed the bank loan and overdraft.

Page 4

Hastings Drummond Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

5

Control

The company is controlled by the director who owns 100% of the called up share capital.

Page 5