P H Hardwill Limited Small abbreviated accounts

COMPANY REGISTRATION NUMBER 02684537

P H HARDWILL LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

30 June 2016

CHALMERS & CO (SW) LIMITED

Chartered Accountants

Trading as Chalmers & Co.

6 The Linen Yard

South Street

Crewkerne

Somerset

TA18 8AB

P H HARDWILL LIMITED

ABBREVIATED BALANCE SHEET

30 June 2016

		2016		2015
Note		£	£	£
FIXED ASSETS	2
Tangible assets			411,747	384,156
			----------	----------

CURRENT ASSETS

Stocks	170,496		179,291
Debtors	871,518		619,444
Cash at bank and in hand	350,508		200,269
	------------		----------
	1,392,522		999,004
CREDITORS: Amounts falling due within one year	572,546		514,935
	------------		----------
NET CURRENT ASSETS		819,976	484,069
		------------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,231,723	868,225

CREDITORS: Amounts falling due after more than one year		-	8,807

PROVISIONS FOR LIABILITIES	82,349	64,344
	------------	----------
	1,149,374	795,074
	------------	----------

CAPITAL AND RESERVES

Called up equity share capital	3	100	100
Profit and loss account		1,149,274	794,974
		------------	----------
SHAREHOLDERS' FUNDS		1,149,374	795,074
		------------	----------

For the year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 21 March 2017 , and are signed on their behalf by:

P J Hardwill Director

Company Registration Number: 02684537

P H HARDWILL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 30 JUNE 2016

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Improvements-10% of the cost

Plant & Machinery-25% of the net book value

Office Equipment-25% of the net book value

Motor Vehicles-25% of the net book value

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Deferred taxation

In accordance with Financial Reporting Standard for Smaller Entities (effective January 2015) FRSSE, the difference between the accounting treatment and tax treatment for depreciation in respect of accelerated capital allowances and other timing differences, is provided in full. Provision is made, or recovery anticipated, where timing differences have originated but not reversed by the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 July 2015	1,229,274
Additions	179,707
Disposals	( 141,913)
	------------
At 30 June 2016	1,267,068
	------------

DEPRECIATION

At 1 July 2015	845,118
Charge for year	112,992
On disposals	( 102,789)
	----------
At 30 June 2016	855,321
	----------

NET BOOK VALUE

At 30 June 2016	411,747
	----------

At 30 June 2015	384,156
	----------

3. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----