Hobson Smith (Construction) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02807994 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2014

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 & Statutory Auditors

22/23 Clyde Terrace

Spennymoor

Co. Durham

DL16 7SE

FIXED ASSETS

Tangible assets

2

24,429

9,342

CURRENT ASSETS

Stocks

265,000

250,000

Debtors

186,503

121,476

Cash at bank and in hand

74,142

106

525,645

371,582

CREDITORS

Amounts falling due within one year

477,175

307,688

NET CURRENT ASSETS

48,470

63,894

TOTAL ASSETS LESS CURRENT LIABILITIES

72,899

73,236

CREDITORS

Amounts falling due after more than one year

(25,866

)

(22,050

)

PROVISIONS FOR LIABILITIES

(3,007

)

-

NET ASSETS

44,026

51,186

CAPITAL AND RESERVES

Called up share capital

3

10,000

10,000

Profit and loss account

34,026

41,186

SHAREHOLDERS' FUNDS

44,026

51,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 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 11 December 2014 and were signed on its behalf by:

A Smith - 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 April 2008).

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 2013

48,577

Additions

21,986

At 31 May 2014

70,563

DEPRECIATION

At 1 June 2013

39,235

Charge for year

6,899

At 31 May 2014

46,134

NET BOOK VALUE

At 31 May 2014

24,429

At 31 May 2013

9,342

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

£

10,000

Ordinary Shares

£1

10,000

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.