Hartleigh Restoration Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05674334

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Hartleigh Restoration Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

P T Gillies

Mrs F S Gillies

SECRETARY:

P T Gillies

REGISTERED OFFICE:

Hartleigh Barton

Petrockstowe

Okehampton

Devon

EX20 3QJ

REGISTERED NUMBER:

05674334

ACCOUNTANTS:

Kirk Hills Chartered Accountants

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

FIXED ASSETS

Tangible assets

4

1,397

1,863

CURRENT ASSETS

Stocks

485,980

729,178

Debtors

5

15,219

11,664

Cash at bank

14,793

2,313

515,992

743,155

CREDITORS

Amounts falling due within one year

6

119,497

439,185

NET CURRENT ASSETS

396,495

303,970

TOTAL ASSETS LESS CURRENT LIABILITIES

397,892

305,833

CREDITORS

Amounts falling due after more than one year

7

254,361

271,997

NET ASSETS

143,531

33,836

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

143,431

33,736

SHAREHOLDERS' FUNDS

143,531

33,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 March 2018 and were signed on its behalf by:

P T Gillies - Director

1.	STATUTORY INFORMATION

Hartleigh Restoration Limited is a private company, limited by shares , registered in Not specified/Other. 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 June 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 April 2015.

Turnover

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

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors are initially recognised at the transaction price and

therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and

doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated

at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are

settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another

party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has

been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third

party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised

at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of

business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If

not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and

subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is

discharged, cancelled or expires.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2016

and 30 June 2017

5,617

1,968

7,585

DEPRECIATION

At 1 July 2016

4,190

1,532

5,722

Charge for year

357

109

466

At 30 June 2017

4,547

1,641

6,188

NET BOOK VALUE

At 30 June 2017

1,070

327

1,397

At 30 June 2016

1,427

436

1,863

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

7,024

3,469

Other debtors

8,195

8,195

15,219

11,664

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Bank loans and overdrafts

19,955

173,121

Taxation and social security

34,512

10,947

Other creditors

65,030

255,117

119,497

439,185

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Bank loans

254,361

271,997

8.	FIRST YEAR ADOPTION

There were no changes to any amounts within the financial statements as a result of the transition to FRS 102 -

Section 1A.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Hartleigh Restoration Limited for the year ended 30 June 2017 which comprise the Income

Statement, Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hartleigh Restoration Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hartleigh Restoration Limited and state those matters that we have agreed to state to the Board of Directors of Hartleigh Restoration Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hartleigh Restoration Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hartleigh Restoration Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hartleigh Restoration Limited. You consider that Hartleigh Restoration Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hartleigh Restoration Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kirk Hills Chartered Accountants

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

31 March 2018