Frank Howard Tools & Fixings Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04093864 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2014

for

Frank Howard Tools & Fixings Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

F M Howard

SECRETARY:

P Howard

REGISTERED OFFICE:

75 Springfield Road

Chelmsford

Essex

CM2 6JB

REGISTERED NUMBER:

04093864 (England and Wales)

ACCOUNTANTS:

NSO Associates LLP

75 Springfield Road

Chelmsford

Essex

CM2 6JB

BANKERS:

HSBC Bank plc

2 The Quadrant

Hoylake

Wirral

Cheshire

CH47 2EG

FIXED ASSETS

112,885

Tangible assets

2

182,858

CURRENT ASSETS

1,021,372

Stocks

1,082,862

787,124

Debtors

908,696

529,939

Cash at bank and in hand

272,847

2,338,435

2,264,405

CREDITORS

998,561

Amounts falling due within one year

818,609

1,339,874

NET CURRENT ASSETS

1,445,796

1,452,759

TOTAL ASSETS LESS CURRENT LIABILITIES

1,628,654

CREDITORS

(21,436

)

Amounts falling due after more than one year

(26,704

)

(11,029

)

PROVISIONS FOR LIABILITIES

(23,712

)

1,420,294

NET ASSETS

1,578,238

CAPITAL AND RESERVES

60

Called up share capital

3

60

40

Capital redemption reserve

40

1,420,194

Profit and loss account

1,578,138

1,420,294

SHAREHOLDERS' FUNDS

1,578,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 6 January 2015 and were signed by:

F M Howard - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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 etc

-

33% on cost, 25% on reducing balance and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

284,709

Additions

145,065

Disposals

(81,131

)

At 31 July 2014

348,643

DEPRECIATION

At 1 August 2013

171,824

Charge for year

33,706

Eliminated on disposal

(39,745

)

At 31 July 2014

165,785

NET BOOK VALUE

At 31 July 2014

182,858

At 31 July 2013

112,885

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

60

Ordinary

£1

60

60