| Highland Souvenirs Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Highland Souvenirs Limited for the year ended 30 April 2014 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Highland Souvenirs Limited for the year ended 30 April 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Highland Souvenirs Limited, as a body, in accordance with the terms of our engagement letter dated 6 October 2011. Our work has been undertaken solely to prepare for your approval the accounts of Highland Souvenirs Limited and state those matters that we have agreed to state to the Board of Directors of Highland Souvenirs Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Highland Souvenirs Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Highland Souvenirs Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Highland Souvenirs Limited. You consider that Highland Souvenirs Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of Highland Souvenirs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts. |
|
| CTMP Accountants Ltd |
| Chartered Accountants |
| 838 Wickham Road |
| Croydon |
| CR0 8ED |
|
| 21 January 2015 |
|
| Highland Souvenirs Limited |
| Registered number: |
SC340623 |
| Abbreviated Balance Sheet |
| as at 30 April 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
12,832 |
|
|
13,909 |
|
| Current assets |
| Stocks |
|
|
83,231 |
|
|
90,213 |
| Debtors |
|
|
18,167 |
|
|
19,862 |
| Cash at bank and in hand |
|
|
222 |
|
|
588 |
|
|
|
101,620 |
|
|
110,663 |
|
| Creditors: amounts falling due within one year |
|
|
(111,375) |
|
|
(105,161) |
|
| Net current (liabilities)/assets |
|
|
|
(9,755) |
|
|
5,502 |
|
| Net assets |
|
|
|
3,077 |
|
|
19,411 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
3,075 |
|
|
19,409 |
|
| Shareholders' funds |
|
|
|
3,077 |
|
|
19,411 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| M G D Bowie |
| Director |
| Approved by the board on 21 January 2015 |
|
| Highland Souvenirs Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 April 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
FA Equipment |
15% on reducing balance |
|
FA Property Improvement |
10% on cost |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 May 2013 |
22,569 |
|
Additions |
1,255 |
|
At 30 April 2014 |
23,824 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2013 |
8,660 |
|
Charge for the year |
2,332 |
|
At 30 April 2014 |
10,992 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2014 |
12,832 |
|
At 30 April 2013 |
13,909 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
