Company Registration No. 02792946 (England and Wales)
HYDERCO UK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2016
HYDERCO UK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
HYDERCO UK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
29 FEBRUARY 2016
29 February 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
7,695
5,721
Current assets
Debtors
190,123
153,425
Cash at bank and in hand
260,641
1,518,387
450,764
1,671,812
Creditors: amounts falling due within one year
(196,161)
(1,359,141)
Net current assets
254,603
312,671
Total assets less current liabilities
262,298
318,392
Provisions for liabilities
(1,168)
(691)
261,130
317,701
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
251,130
307,701
Shareholder's funds
261,130
317,701
For the financial year ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 21 November 2016
Mr N Akwiwu
Director
Company Registration No. 02792946
HYDERCO UK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% reducing balance
1.4
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2015
27,244
Additions
3,897
At 29 February 2016
31,141
Depreciation
At 1 March 2015
21,523
Charge for the year
1,923
At 29 February 2016
23,446
Net book value
At 29 February 2016
7,695
At 28 February 2015
5,721
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000