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REGISTERED NUMBER: 08287076 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

HANKHAM MOTOR WORKS LTD

HANKHAM MOTOR WORKS LTD (REGISTERED NUMBER: 08287076)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HANKHAM MOTOR WORKS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTORS: S P Reed
J D Reed
P E Reed





REGISTERED OFFICE: Hankham Street
Pevensey
East Sussex
BN24 5BA





REGISTERED NUMBER: 08287076 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

HANKHAM MOTOR WORKS LTD (REGISTERED NUMBER: 08287076)

BALANCE SHEET
31 MARCH 2018

2018 2017
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 6,000
Tangible assets 5 16,115 13,667
16,115 19,667

CURRENT ASSETS
Stocks 1,200 1,200
Debtors 6 10,651 10,688
Cash at bank and in hand 7,011 9,017
18,862 20,905
CREDITORS
Amounts falling due within one year 7 (33,045 ) (36,335 )
NET CURRENT LIABILITIES (14,183 ) (15,430 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,932

4,237

CREDITORS
Amounts falling due after more than one
year

8

-

(3,578

)
NET ASSETS 1,932 659

CAPITAL AND RESERVES
Called up share capital 9 6 6
Retained earnings 1,926 653
SHAREHOLDERS' FUNDS 1,932 659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

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.

HANKHAM MOTOR WORKS LTD (REGISTERED NUMBER: 08287076)

BALANCE SHEET - continued
31 MARCH 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 9 November 2018 and were signed on its behalf
by:





J D Reed - Director


HANKHAM MOTOR WORKS LTD (REGISTERED NUMBER: 08287076)

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

1. STATUTORY INFORMATION

Hankham Motor Works Ltd is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"
of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention, as modified by the recognition of certain assets and liabilities measured at fair value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to
the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can
be measured reliably; and when it is probable that future economic benefits will flow to the entity.

In respect of construction contracts and the rendering of services, turnover represents revenue measured by
reference to the stage of completion of the contract activity or of the service transaction at the end of the
reporting period.

Goodwill
Goodwill recognised represents the excess of the fair value and directly attributable costs of the purchase
consideration over the fair values of the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill is amortised through the income statement in equal instalments over its estimated useful life of 5 years.
Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to
the income statement. Reversals of impairment are recognised when the reasons for the impairment no longer
apply.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment
losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working
condition for its intended use, dismantling and restoration costs.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life
or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 3 years straight line

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each
reporting period. The effect of any change is accounted for prospectively.

HANKHAM MOTOR WORKS LTD (REGISTERED NUMBER: 08287076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

2. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other
costs incurred in bringing the inventories to their present location and condition. In respect of work in progress
and finished goods, cost includes a relevant proportion of overheads according to the stage of
manufacture/completion.

Net realisable value is based on estimated selling price less costs to complete and sell.

At the end of each reporting period stocks and work in progress are assessed for impairment. If any stock or
work in progress is impaired, it is reduced to its net realisable value and an impairment charge is recognised in
the income statement. Where a reversal of the impairment is required the impairment charge is reversed, up to
the original impairment loss, and is recognised as a credit in the income statement.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third
parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the
undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments
are initially measured at present value of the future payments and subsequently at amortised cost using the
effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is
recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise
the asset and settle the liability simultaneously.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date. 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.

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.

HANKHAM MOTOR WORKS LTD (REGISTERED NUMBER: 08287076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

2. ACCOUNTING POLICIES - continued

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease. Lease incentives are recognised over the lease term on a straight line basis.

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.

Interest income
Interest income is recognised using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2017
and 31 March 2018 30,000
AMORTISATION
At 1 April 2017 24,000
Charge for year 6,000
At 31 March 2018 30,000
NET BOOK VALUE
At 31 March 2018 -
At 31 March 2017 6,000

HANKHAM MOTOR WORKS LTD (REGISTERED NUMBER: 08287076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2017 5,570 1,989 18,022 1,536 27,117
Additions 4,000 1,550 1,000 - 6,550
At 31 March 2018 9,570 3,539 19,022 1,536 33,667
DEPRECIATION
At 1 April 2017 2,006 951 9,196 1,297 13,450
Charge for year 1,136 389 2,457 120 4,102
At 31 March 2018 3,142 1,340 11,653 1,417 17,552
NET BOOK VALUE
At 31 March 2018 6,428 2,199 7,369 119 16,115
At 31 March 2017 3,564 1,038 8,826 239 13,667

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 10,651 10,688

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts - 3,561
Other loans 938 5,015
Hire purchase contracts 3,578 1,469
Trade creditors 11,645 9,760
Tax 7,100 8,300
Social security and other taxes 804 224
VAT 5,810 4,904
Directors' current accounts 1,620 1,602
Accrued expenses 1,550 1,500
33,045 36,335

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Hire purchase contracts - 3,578

HANKHAM MOTOR WORKS LTD (REGISTERED NUMBER: 08287076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

9. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
2 Ordinary A £1 2 2
2 Ordinary B £1 2 2
2 Ordinary C £1 2 2
6 6