H B Draughting Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04359814 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2017

for

H B Draughting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Harvatt

A K Burns

SECRETARY:

C J Harvatt

REGISTERED OFFICE:

C/o Derede Associates Ltd

14a Waterside Business Park

Livingstone Road

Hessle

East Yorkshire

HU13 0EG

REGISTERED NUMBER:

04359814 (England and Wales)

ACCOUNTANTS:

Derede Associates Limited

14a Waterside Business Park

Livingstone Road

Hessle

East Yorkshire

HU13 0EG

BANKERS:

National Westminster Bank plc

34 King Edward Street

Hull

East Yorkshire

HU1 3SS

FIXED ASSETS

Tangible assets

3

3

25

CURRENT ASSETS

Debtors

4

20,131

9,604

Cash at bank

3,975

2,399

24,106

12,003

CREDITORS

Amounts falling due within one year

5

18,153

11,683

NET CURRENT ASSETS

5,953

320

TOTAL ASSETS LESS CURRENT LIABILITIES

5,956

345

CAPITAL AND RESERVES

Called up share capital

6

103

100

Retained earnings

7

5,853

245

SHAREHOLDERS' FUNDS

5,956

345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 20 October 2017 and were signed on its behalf by:

C J Harvatt - Director

A K Burns - Director

1.	STATUTORY INFORMATION

H B Draughting Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Revenue Recognition

Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company

receives a right to consideration from its performance.

Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on

their fair value of the right to consideration at the balance sheet date.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the

recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where

it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount

of the cash-generating unit to which the asset belongs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2016

and 31 January 2017

455

2,898

3,353

DEPRECIATION

At 1 February 2016

454

2,874

3,328

Charge for year

-

22

22

At 31 January 2017

454

2,896

3,350

NET BOOK VALUE

At 31 January 2017

1

2

3

At 31 January 2016

1

24

25

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade debtors

18,248

6,684

Other debtors

1,883

2,920

20,131

9,604

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade creditors

712

-

Tax

9,483

5,749

Social security and other taxes

6,071

4,870

Other creditors

-

132

Directors' current accounts

887

57

Accrued expenses

1,000

875

18,153

11,683

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.17

31.1.16

value:

£

£

100

Ordinary

£1

100

100

3

Ordinary A

£1

3

-

103

100

The following shares were issued during the year for cash at par :

3 Ordinary A shares of £1

7.

RESERVES

Retained

earnings

£

At 1 February 2016

245

Profit for the year

37,610

Dividends

(32,002

)

At 31 January 2017

5,853

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2017 and

31 January 2016:

31.1.17

31.1.16

£

£

A K Burns

Balance outstanding at start of year

(42

)

(617

)

Amounts advanced

18,751

34,250

Amounts repaid

(19,167

)

(33,675

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(458

)

(42

)

C J Harvatt

Balance outstanding at start of year

(15

)

(590

)

Amounts advanced

18,753

34,250

Amounts repaid

(19,167

)

(33,675

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(429

)

(15

)

This sum is interest free and repayable on demand.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £22,000 (2016 - £53,350) were paid to the directors .

The Directors, Mr CJ Harvatt and Mr A K Burns are also the partners of H B Draughting partnership. During the

year ended 31st January 2017, H B Draughting Limited provided H B Draughting partnership with services of,

£37,090 (2016 £43,690). The outstanding amount at 31 January 2017 owed from H B Draughting partnership

was £7,418 (2016 £6,600).

10.	ULTIMATE CONTROLLING PARTY

The directors have control of the company.

11.	FIRST YEAR ADOPTION

On transition to FRS102 the company has taken advantage of the following transitional relief:

- Not to disclose the reconciliation of equity and profit and loss due to no subsequent changes.

- Not to include immaterial employee benefits accruing at the balance sheet date.