A Hardwick Haulage Limited - Period Ending 2016-08-31

A Hardwick Haulage Limited

Abbreviated Accounts

for the Year Ended 31 August 2016

787878787
A Hardwick Haulage Limited
Registration number: 03618863
Abbreviated Balance Sheet at 31 August 2016

		Note		2016				2015
	£		£		£		£
Fixed assets
Tangible fixed assets		2				1,151,131			910,318
Current assets
Stocks				13,460				19,300
Debtors				552,416				444,982
Cash at bank and in hand				147,864				163,631
				713,740				627,913
Creditors: Amounts falling due within one year		3		(360,460)				(322,621)
Net current assets						353,280			305,292
Total assets less current liabilities						1,504,411			1,215,610
Creditors: Amounts falling due after more than one year						(566,840)			(414,044)
Provisions for liabilities						(135,100)			(116,448)
Net assets						802,471			685,118
Capital and reserves
Called up share capital		4		2				2
Profit and loss account				802,469				685,116
Shareholders' funds						802,471			685,118

For the year ending 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 25 January 2017 and signed on its behalf by:

Mr A D Hardwick
Director

The notes on pages 2 to 3 form an integral part of these financial statements.

787878787
A Hardwick Haulage Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016

1	Accounting policies

Basis of preparation

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

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated
residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Vehicles, plant and machinery	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

The notes on pages 2 to 3 form an integral part of these financial statements.

787878787
A Hardwick Haulage Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 September 2015	1,761,775	1,761,775
Additions	586,546	586,546
Disposals	(178,860)	(178,860)
At 31 August 2016	2,169,461	2,169,461
Amortisation
At 1 September 2015	851,457	851,457
Charge for the year	273,688	273,688
Eliminated on disposals	(106,815)	(106,815)
At 31 August 2016	1,018,330	1,018,330
Net book value
At 31 August 2016	1,151,131	1,151,131
At 31 August 2015	910,318	910,318

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

	2016 £	2015 £

Amounts falling due within one year	206,121	181,170
Amounts falling due after more than one year	566,840	414,044
Total secured creditors	772,961	595,214

4	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary shares of £1 each		2	2		2	2

The notes on pages 2 to 3 form an integral part of these financial statements.