REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017 |
FOR |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017 |
FOR |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED (REGISTERED NUMBER: 01424002) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 October 2017 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
9 Glasgow Road |
PAISLEY |
Renfrewshire |
PA1 3QS |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED (REGISTERED NUMBER: 01424002) |
BALANCE SHEET |
31 October 2017 |
31.10.16 | 31.10.17 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Investment property non distributable reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED (REGISTERED NUMBER: 01424002) |
BALANCE SHEET - continued |
31 October 2017 |
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 |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED (REGISTERED NUMBER: 01424002) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2017 |
1. | STATUTORY INFORMATION |
A.a. Henton & Son (Steel Fabrications) Limited is a |
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. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements for the year ended 31 October 2017 are the first financial statements that comply with |
FRS 102 Section 1A '' Small Entities''. The date of transition to FRS 102 1A is 1 November 2015. |
The transition to FRS 102 Section 1A '' Small Entities'' has not resulted in any changes in accounting policies or |
impact opening equity or profit. |
The significant policies applied in the preparation of these financial statements are set out below. These policies |
have been consistently applied to all years presented unless otherwise stated |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is stated net of VAT. Turnover from the sale of goods is recognised when the goods are physically |
delivered to the customer. Turnover from the supply of services represents the value of services provided under |
contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. |
Where the contract has only been partially completed at the balance sheet date turnover represents the value of |
the service provided to date based on a proportion of the total contract value. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and |
accumulated impairment losses. |
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the |
recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED (REGISTERED NUMBER: 01424002) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2017 |
3. | ACCOUNTING POLICIES - continued |
Investment property |
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at |
fair value at each reporting date with changes in fair value recognised in profit and loss. |
Revaluations are conducted annually by the director. |
Stocks |
Stocks consist of goods for resale and are valued at the lower of purchase cost and estimated selling price less |
costs to sell, after making due allowances for obsolete and slow moving items. |
When stocks are sold, the carrying amount of these stock is recognised as an expense in the period in which the |
related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of |
stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any |
reversal of any write-down of stocks is recognised as a reduction on the amount of stocks recognised as an |
expense in the period in which the reversal occurs. |
Financial instruments |
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when |
the company becomes a party to the contractual provisions of the instrument and are classified in accordance |
with their underlying economic reality. |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis. |
The company's liability for current tax is calculated using tax rates that have been enacted or substantively |
enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the |
financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying |
amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is |
no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the |
liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or |
substantively enacted by the end of the reporting period. |
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. |
Debtors |
Debtors include the value of contractual work in progress. |
Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include cash in hand as well as deposits held at call with |
banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised |
when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which |
the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in |
equity. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED (REGISTERED NUMBER: 01424002) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2017 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
Totals | property | machinery | fittings | vehicles |
£ | £ | £ | £ | £ |
COST |
At 1 November 2016 |
Additions |
At 31 October 2017 |
DEPRECIATION |
At 1 November 2016 |
Charge for year |
At 31 October 2017 |
NET BOOK VALUE |
At 31 October 2017 |
At 31 October 2016 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2016 |
and 31 October 2017 |
NET BOOK VALUE |
At 31 October 2017 |
At 31 October 2016 |
Fair value at 31 October 2017 is represented by: |
£ |
Valuation in 2017 | 17,032 |
Cost | 182,968 |
200,000 |
Investment property was valued on a fair value basis on 31 October 2017 by the directors . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.17 | 31.10.16 |
£ | £ |
Trade debtors |
Amounts recoverable on contracts |
Amount due from fellow subsidiary | 387,399 | 617,936 |
Corporation Tax |
Prepayments |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED (REGISTERED NUMBER: 01424002) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2017 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.17 | 31.10.16 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation Tax |
Social security and other taxes |
VAT | 76,112 | 61,275 |
Other creditors |
Amount due to parent company | 112,543 | 73,068 |
Accruals |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.10.17 | 31.10.16 |
£ | £ |
Bank overdraft |
Bank borrowing is secured by:- |
- a first legal charge over the investment freehold property of the company |
- a debenture |
- a fixed and floating charge |
- a personal guarantee from the director Arthur Henton limited to £25,000 |
- an unlimited cross guarantee from Overhead Line Fittings (U.K.) Limited. |
10. | PROVISIONS FOR LIABILITIES |
31.10.17 | 31.10.16 |
£ | £ |
Deferred tax | 19,681 | 12,720 |
Deferred |
tax |
£ |
Balance at 1 November 2016 |
Provided during year |
Balance at 31 October 2017 |
This is in respect of accelerated capital allowances |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.17 | 31.10.16 |
value: | £ | £ |
Ordinary | £1 | 40,002 | 40,002 |
A.A. HENTON & SON (STEEL FABRICATIONS) |
LIMITED (REGISTERED NUMBER: 01424002) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2017 |
12. | ULTIMATE CONTROLLING PARTY |
The director Arthur W Henton controls the company indirectly as a result of having a controlling interest in the |
issued ordinary share capital of the parent company. |
The immediate and ultimate parent of the company is Jenner Holdings Ltd, a company registered in England |
whose registered office is 12 Wood Lane,Norton Juxta Twycross, Atherstone, Warwickshire CV9 3QB. |
13. | FIRST YEAR ADOPTION |
These are the first statements that comply with FRS 102 Section 1A. The company transitioned to FRS 102 |
Section 1A on 1 November 2015. |
There are no adjustments arising on transition. |