Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-04-01 10039984 2017-04-01 2018-03-31 10039984 2016-03-03 2017-03-31 10039984 2018-03-31 10039984 2017-03-31 10039984 c:Director1 2017-04-01 2018-03-31 10039984 d:OfficeEquipment 2017-04-01 2018-03-31 10039984 d:OfficeEquipment 2018-03-31 10039984 d:OfficeEquipment 2017-03-31 10039984 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 10039984 d:CurrentFinancialInstruments 2018-03-31 10039984 d:CurrentFinancialInstruments 2017-03-31 10039984 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 10039984 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 10039984 d:ShareCapital 2018-03-31 10039984 d:ShareCapital 2017-03-31 10039984 d:RetainedEarningsAccumulatedLosses 2018-03-31 10039984 d:RetainedEarningsAccumulatedLosses 2017-03-31 10039984 d:AcceleratedTaxDepreciationDeferredTax 2018-03-31 10039984 d:AcceleratedTaxDepreciationDeferredTax 2017-03-31 10039984 c:FRS102 2017-04-01 2018-03-31 10039984 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 10039984 c:FullAccounts 2017-04-01 2018-03-31 10039984 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure
Registered number: 10039984









HUSTRONICS LTD

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018







































 
HUSTRONICS LTD
REGISTERED NUMBER: 10039984

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,508
9,845

  
8,508
9,845

Current assets
  

Debtors: amounts falling due within one year
 5 
2,016
7,104

Cash at bank and in hand
 6 
6,980
16,286

  
8,996
23,390

Creditors: amounts falling due within one year
 7 
(9,983)
(11,975)

Net current (liabilities)/assets
  
 
 
(987)
 
 
11,415

Total assets less current liabilities
  
7,521
21,260

Provisions for liabilities
  

Deferred tax
 8 
(1,446)
(1,674)

  
 
 
(1,446)
 
 
(1,674)

Net assets
  
6,075
19,586


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
5,975
19,486

  
6,075
19,586


Page 1

 
HUSTRONICS LTD
REGISTERED NUMBER: 10039984
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2018

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr G J Husbands
Director

Date: 12 November 2018

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HUSTRONICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

Hustronics Limited is a private limited company incorporated in England.
Registered Office:
Fieldside
Padnal
Littleport
Ely
Cambridgeshire
CB6 1NS

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

Page 3

 
HUSTRONICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
HUSTRONICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).

Page 5

 
HUSTRONICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2017
11,585


Additions
165



At 31 March 2018

11,750



Depreciation


At 1 April 2017
1,740


Charge for the year on owned assets
1,502



At 31 March 2018

3,242



Net book value



At 31 March 2018
8,508



At 31 March 2017
9,845


5.


Debtors

2018
2017
£
£


Trade debtors
-
7,104

Prepayments and accrued income
2,016
-

2,016
7,104



6.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
6,980
16,286

6,980
16,286


Page 6

 
HUSTRONICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

7.


Creditors: Amounts falling due within one year

2018
2017
£
£

Corporation tax
8,702
10,114

Other creditors
158
841

Accruals and deferred income
1,123
1,020

9,983
11,975



8.


Deferred taxation




2018


£






At beginning of year
(1,674)


Charged to profit or loss
-


Utilised in year
228



At end of year
(1,446)

The provision for deferred taxation is made up as follows:

2018
2017
£
£


Accelerated capital allowances
(1,446)
(1,674)

(1,446)
(1,674)

 
Page 7