Highway Contractors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00643669 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

Highway Contractors Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D P Gibbons

E J Gibbons

Mrs S E Smith

REGISTERED OFFICE:

44 High Lane Central

West Hallam

Derbyshire

DE7 6HU

REGISTERED NUMBER:

00643669 (England and Wales)

ACCOUNTANTS:

Gregory Priestley & Stewart

Chartered Certified Accountants

16 Queen Street

Ilkeston

Derbyshire

DE7 5GT

FIXED ASSETS

Tangible assets

3

550,000

300,000

CURRENT ASSETS

Debtors

734

654

Cash at bank

372,520

347,389

373,254

348,043

CREDITORS

Amounts falling due within one year

12,752

13,073

NET CURRENT ASSETS

360,502

334,970

TOTAL ASSETS LESS CURRENT LIABILITIES

910,502

634,970

PROVISIONS FOR LIABILITIES

6,187

6,187

NET ASSETS

904,315

628,783

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Fair valuation reserve

4

488,103

238,103

Other reserves

2,525

2,525

Retained earnings

383,687

358,155

SHAREHOLDERS' FUNDS

904,315

628,783

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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 September 2018 and were signed on its behalf by:

E J Gibbons - Director

1.	STATUTORY INFORMATION

Highway Contractors 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.

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 letting income.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance

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.

Investment property

Freehold investment properties are valued at open market value at April 1994.

Rents receivable

Rent receivable is credited to the profit and loss account for the period to which receipt relates.

3.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 January 2017

303,000

Revaluations

250,000

At 31 December 2017

553,000

DEPRECIATION

At 1 January 2017

and 31 December 2017

3,000

NET BOOK VALUE

At 31 December 2017

550,000

At 31 December 2016

300,000

Cost or valuation at 31 December 2017 is represented by:

Totals

£

Valuation in 1977

113,103

Valuation in 2015

125,000

Valuation in 2017

250,000

Cost

64,897

553,000

4.

RESERVES

Fair

valuation

reserve

£

At 1 January 2017

238,103

Fair valuation reserve

250,000

At 31 December 2017

488,103