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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2017 |
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HALL BROS. (BRIDLINGTON) LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2017 |
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FOR |
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HALL BROS. (BRIDLINGTON) LIMITED |
HALL BROS. (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 01207809) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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HALL BROS. (BRIDLINGTON) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Medina House |
2 Station Avenue |
Bridlington |
East Yorkshire |
YO16 4LZ |
HALL BROS. (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 01207809) |
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BALANCE SHEET |
30 APRIL 2017 |
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30.4.17 | 30.4.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Capital redemption reserve |
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Non distributable reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
HALL BROS. (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 01207809) |
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BALANCE SHEET - continued |
30 APRIL 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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HALL BROS. (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 01207809) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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1. | STATUTORY INFORMATION |
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Hall Bros. (Bridlington) Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at fair value of the consideration received or receivable for the supply of crane hire and |
heating work done, recognised on a date supplied basis, excluding discounts, rebates, value added tax and other |
sales tax. |
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Tangible fixed assets |
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Leasehold property | - |
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Plant and machinery | - |
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Cranes and lorries | - |
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Motor vehicles | - |
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Office equipment | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
HALL BROS. (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 01207809) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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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. |
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Additionally, during the year, the company implemented automatic enrolment into a workplace pension scheme |
in relation to all employees. |
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All contributions payable for the year are charged to the profit & loss account. |
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Fixed asset investments |
Investment in subsidiary is recorded at cost as a reliable fair value cannot be established. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2016 |
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Additions |
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Disposals |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Leasehold property is short leasehold as defined by the Companies Act 2006. |
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The net book value of tangible fixed assets includes £ 742,702 (2016 - £ 364,299 ) in respect of assets held under |
hire purchase contracts. |
HALL BROS. (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 01207809) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 May 2016 |
and 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Cost or valuation at 30 April 2017 is represented by: |
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Other |
investments |
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Cost | 101,500 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 May 2016 |
and 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Fair value at 30 April 2017 is represented by: |
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£ |
Valuation in 1997 | 74,620 |
Valuation in 2007 | 20,960 |
Valuation in 2010 | (53,811 | ) |
Cost | 158,231 |
200,000 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Trade debtors |
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Other debtors |
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HALL BROS. (BRIDLINGTON) LIMITED (REGISTERED NUMBER: 01207809) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Hire purchase contracts |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.4.17 | 30.4.16 |
£ | £ |
Hire purchase contracts | 267,504 | 253,367 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.17 | 30.4.16 |
value: | £ | £ |
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Ordinary | £1 | 10,100 | 10,100 |
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12. | CONTINGENT LIABILITIES |
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The company has provided a guarantee to the bankers of its subsidiary Hall Bros (Fuels) Limited. In addition, the |
company has also provided a guarantee to the fuel supplier of Hall Bros (Fuels) Limited. It is the opinion of the |
directors that these guarantees will not crystallise and therefore has not been provided for in these accounts. |
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13. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by H W F C Hall, J P C Hall, D H C Hall, J T J C Hall and C J Custus. |
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14. | FIRST YEAR ADOPTION |
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Transitional relief |
On transition to FRS 102, the company has taken advantage of the following transitional relief: |
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• | to use a previous GAAP revaluation as deemed cost on an investment property. |
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This is the first year the company has presented its results under FRS 102. |
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The last financial statements under previous UK GAAP were for the year ended 30 April 2016 and the date of |
transition to FRS 102 was 1 May 2015. |