The Hand Laundry (Bury) Limited - Accounts to registrar (filleted) - small 18.1

The Hand Laundry (Bury) Limited - Accounts to registrar (filleted) - small 18.1


IRIS Accounts Productionv18.1.0.97500244914Board of Directors1.1.1731.12.1731.12.17falsetruefalsefalsetruefalseFair value modelOrdinary1.00000Ordinary1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure002449142016-12-31002449142017-12-31002449142017-01-012017-12-31002449142015-12-31002449142016-01-012016-12-31002449142016-12-3100244914ns15:EnglandWales2017-01-012017-12-3100244914ns14:PoundSterling2017-01-012017-12-3100244914ns10:Director12017-01-012017-12-3100244914ns10:PrivateLimitedCompanyLtd2017-01-012017-12-3100244914ns10:SmallEntities2017-01-012017-12-3100244914ns10:AuditExempt-NoAccountantsReport2017-01-012017-12-3100244914ns10:SmallCompaniesRegimeForDirectorsReport2017-01-012017-12-3100244914ns10:SmallCompaniesRegimeForAccounts2017-01-012017-12-3100244914ns10:FullAccounts2017-01-012017-12-3100244914ns10:OrdinaryShareClass12017-01-012017-12-3100244914ns10:Director22017-01-012017-12-3100244914ns10:Director32017-01-012017-12-3100244914ns10:Director42017-01-012017-12-3100244914ns10:CompanySecretary12017-01-012017-12-3100244914ns10:RegisteredOffice2017-01-012017-12-3100244914ns5:CurrentFinancialInstruments2017-12-3100244914ns5:CurrentFinancialInstruments2016-12-3100244914ns5:Non-currentFinancialInstruments2017-12-3100244914ns5:Non-currentFinancialInstruments2016-12-3100244914ns5:ShareCapital2017-12-3100244914ns5:ShareCapital2016-12-3100244914ns5:CapitalRedemptionReserve2017-12-3100244914ns5:CapitalRedemptionReserve2016-12-3100244914ns5:FurtherSpecificReserve1ComponentTotalEquity2017-12-3100244914ns5:FurtherSpecificReserve1ComponentTotalEquity2016-12-3100244914ns5:FurtherSpecificReserve3ComponentTotalEquity2017-12-3100244914ns5:FurtherSpecificReserve3ComponentTotalEquity2016-12-3100244914ns5:RetainedEarningsAccumulatedLosses2017-12-3100244914ns5:RetainedEarningsAccumulatedLosses2016-12-3100244914ns5:LandBuildingsns5:OwnedOrFreeholdAssets2017-01-012017-12-3100244914ns5:PlantMachinery2017-01-012017-12-3100244914ns5:MotorVehicles2017-01-012017-12-3100244914ns5:LandBuildings2016-12-3100244914ns5:PlantMachinery2016-12-3100244914ns5:LandBuildings2017-01-012017-12-3100244914ns5:LandBuildings2017-12-3100244914ns5:PlantMachinery2017-12-3100244914ns5:LandBuildings2016-12-3100244914ns5:PlantMachinery2016-12-3100244914ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-12-3100244914ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-12-3100244914ns5:MoreThanFiveYearsns5:Non-currentFinancialInstruments2017-12-3100244914ns5:MoreThanFiveYearsns5:Non-currentFinancialInstruments2016-12-3100244914ns5:DeferredTaxation2016-12-3100244914ns5:DeferredTaxation2017-01-012017-12-3100244914ns5:DeferredTaxation2017-12-3100244914ns10:OrdinaryShareClass12017-12-31


REGISTERED NUMBER: 00244914(England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2017

for

The Hand Laundry (Bury) Limited

The Hand Laundry (Bury) Limited (Registered number: 00244914)






Contents of the Financial Statements
for the Year Ended 31 December 2017




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


The Hand Laundry (Bury) Limited

Company Information
for the Year Ended 31 December 2017







DIRECTORS: Ms J I Murray
Mr D J Bayne
Mr J W Bayne
Mrs S M K Bayne





SECRETARY: Mrs S M K Bayne





REGISTERED OFFICE: 16 Forbes Business Centre
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 00244914(England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

The Hand Laundry (Bury) Limited (Registered number: 00244914)

Balance Sheet
31 December 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 130,898 123,847
Investment property 5 10,145,500 9,839,000
10,276,398 9,962,847

CURRENT ASSETS
Debtors 6 53,846 65,014
Cash at bank and in hand 135,794 298,284
189,640 363,298
CREDITORS
Amounts falling due within one year 7 327,806 337,488
NET CURRENT (LIABILITIES)/ASSETS (138,166 ) 25,810
TOTAL ASSETS LESS CURRENT LIABILITIES 10,138,232 9,988,657

CREDITORS
Amounts falling due after more than one
year

8

(2,000

)

(2,000

)

PROVISIONS FOR LIABILITIES 9 (46,224 ) (630,466 )
NET ASSETS 10,090,008 9,356,191

CAPITAL AND RESERVES
Called up share capital 10 31,200 31,200
Capital redemption reserve 31,245 31,245
General reserve 15,000 15,000
Fair value reserve 3,035,895 2,494,233
Retained earnings 6,976,668 6,784,513
SHAREHOLDERS' FUNDS 10,090,008 9,356,191

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Hand Laundry (Bury) Limited (Registered number: 00244914)

Balance Sheet - continued
31 December 2017


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 13 April 2018and were signed on its behalf by:





Ms J I Murray- Director


The Hand Laundry (Bury) Limited (Registered number: 00244914)

Notes to the Financial Statements
for the Year Ended 31 December 2017

1. STATUTORY INFORMATION

The Hand Laundry (Bury) 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of the letting of small commercial and industrial units during the year, excluding
value added tax, and all arises within the UK.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line on buildings
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost

Investment property
Investment properties are included in the Balance Sheet at a market value based on current rental income, as
valued by the directors. Changes in the value of the investment properties are recognised in the profit and
loss account.

The Hand Laundry (Bury) Limited (Registered number: 00244914)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities such as trade and other accounts receivable and payable, and loans from banks or other
related parties.

Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present
value of the future payments and subsequently at amortised cost using the effective interest method. Debt
instruments that are payable or receivable within one year, typically trade payables or receivables, are
measured, initially and subsequently, at the undiscounted amount of the cash or other consideration,
expected to be paid or received. However if the arrangements of a short-term instrument constitute a
financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed
at a rate of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the
financial asset or liability is measured, initially and subsequently, at the present value of the future payment
discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is
recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an
asset's carrying amount and the present value of estimated cash flows discounted at the asset's original
effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any
impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and best estimate, which is an approximation of the amount that the
company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to
realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

The Hand Laundry (Bury) Limited (Registered number: 00244914)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

2. ACCOUNTING POLICIES - continued

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 profit or loss in the period to which they relate.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but
excluding investment properties, are assessed to determine whether there is an indication that the carrying
amount of an asset may be more than its recoverable amount and that the asset should be impaired.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7(2016 - 7) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2017 160,817 63,237 224,054
Additions - 21,853 21,853
Disposals - (22,545 ) (22,545 )
At 31 December 2017 160,817 62,545 223,362
DEPRECIATION
At 1 January 2017 52,911 47,296 100,207
Charge for year 3,128 2,656 5,784
Eliminated on disposal - (13,527 ) (13,527 )
At 31 December 2017 56,039 36,425 92,464
NET BOOK VALUE
At 31 December 2017 104,778 26,120 130,898
At 31 December 2016 107,906 15,941 123,847

The Hand Laundry (Bury) Limited (Registered number: 00244914)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2017 9,839,000
Additions 306,500
At 31 December 2017 10,145,500
NET BOOK VALUE
At 31 December 2017 10,145,500
At 31 December 2016 9,839,000

Fair value at 31 December 2017 is represented by:

£   
Valuation in 2006 2,113,263
Valuation in 2007 547,995
Valuation in 2008 55,134
Valuation in 2009 39,634
Valuation in 2010 (235,154 )
Valuation in 2011 203,369
Valuation in 2012 (310,781 )
Valuation in 2013 224,475
Valuation in 2014 (22,461 )
Valuation in 2016 463,825
Cost 7,066,201
10,145,500

If investment properties had not been revalued they would have been included at the following historical cost:

2017 2016
£    £   
Cost 7,066,201 6,759,701

Investment properties were valued on a review basis on 31 December 2017 by the directors .

In line with the provisions of FRS 102 Section 16 relating to investment properties, investment properties are
shown at market value as estimated by the directors. Revaluations are shown through the Income Statement
and deferred tax is calculated on these as appropriate. Any unrealised gains/losses on the revaluation of
properties are shown in a non-distributable reserve on the Balance Sheet.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 38,846 50,484
Other debtors 15,000 14,530
53,846 65,014

The Hand Laundry (Bury) Limited (Registered number: 00244914)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 10,689 18,288
Corporation tax 52,868 63,797
Social security and other taxes 27,992 24,748
Other creditors 31,865 92,285
Other loan 45,276 -
Directors' loan accounts 60,000 40,785
Accruals and deferred income 99,116 97,585
327,806 337,488

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2017 2016
£    £   
Preference shares 2,000 2,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 2,000 2,000

9. PROVISIONS FOR LIABILITIES
2017 2016
£    £   
Deferred tax
Accelerated capital allowances 2,820 630,466
Revaluation of investment properties 43,404 -
46,224 630,466

Deferred
tax
£   
Balance at 1 January 2017 630,466
Credit to Income Statement during year (584,242 )
Balance at 31 December 2017 46,224

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
31,200 Ordinary £1 31,200 31,200