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REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2019 |
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H & C CARDIEM LIMITED |
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REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2019 |
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FOR |
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H & C CARDIEM LIMITED |
H & C CARDIEM LIMITED (REGISTERED NUMBER: 02555741) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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H & C CARDIEM LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2019 |
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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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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
& Statutory Auditors |
45 Union Road |
New Mills |
High Peak |
SK22 3EL |
H & C CARDIEM LIMITED (REGISTERED NUMBER: 02555741) |
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ABRIDGED BALANCE SHEET |
31 MAY 2019 |
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31/5/19 | 31/5/18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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1,726,829 | 1,928,642 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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H & C CARDIEM LIMITED (REGISTERED NUMBER: 02555741) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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1. | STATUTORY INFORMATION |
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H & C Cardiem 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 represents net invoiced sales of goods, excluding value added tax. Revenue is recognised once goods |
have been dispatched. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. The |
cost of work in progress and finished goods includes all production overheads and depreciation and the |
attributable proportion of indirect overheads based on the normal level of activity. Net realisable value is based |
on the estimated selling price less estimated cost of disposal. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, 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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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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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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 the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account as incurred. |
H & C CARDIEM LIMITED (REGISTERED NUMBER: 02555741) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a money purchase pension scheme. Contributions payable for the year are charged to the |
profit and loss account. |
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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 |
Totals |
£ |
COST |
At 1 June 2018 |
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Additions |
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Disposals | ( |
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At 31 May 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
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COST |
At 1 June 2018 |
and 31 May 2019 | 968,450 |
DEPRECIATION |
At 1 June 2018 | 230,929 |
Charge for year | 77,229 |
At 31 May 2019 | 308,158 |
NET BOOK VALUE |
At 31 May 2019 | 660,292 |
At 31 May 2018 | 737,521 |
H & C CARDIEM LIMITED (REGISTERED NUMBER: 02555741) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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5. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31/5/19 | 31/5/18 |
£ | £ |
Hire purchase contracts | 472,440 | 613,271 |
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Hire purchase contracts are secured by the assets to which they relate. |
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Bibby Financial Services Limited (as security trustees) hold a fixed and floating charge over all the property or |
undertaking of the company. |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 May 2019 and |
31 May 2018: |
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31/5/19 | 31/5/18 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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8. | RELATED PARTY DISCLOSURES |
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At 31st May 2019 the amount due from H & C Merchandising Equipment Limited was £424,675 (2018 : |
£242,824) |
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During the year the company paid rent of £48,319 (2018 : £85,200) in respect of the premises at Strines. |
This was paid into a pension fund where Mr M Houghton is the beneficiary. |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is a 90% subsidiary of H & C Merchandising Equipment Limited, a company incorporated in |
England & Wales. The directors consider this to be the ultimate holding company. |