Hurst Development Solutions Ltd - Limited company accounts 11.6

REGISTERED NUMBER: 07284507 (England and Wales)

Report of the Director and

Financial Statements for the Year Ended 30 June 2014

for

Hurst Development Solutions Ltd

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

M Hurst

SECRETARY:

REGISTERED OFFICE:

Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

REGISTERED NUMBER:

07284507 (England and Wales)

ACCOUNTANTS:

Mike Brooks

ABM Accountants Reading Ltd

549 Oxford Road

Reading

Berkshire

RG30 1HJ

The director presents his report with the financial statements of the company for the year ended 30 June 2014.

DIRECTOR

M Hurst held office during the whole of the period from 1 July 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M Hurst - Director

3 February 2015

TURNOVER

678,163

198,207

Cost of sales

516,210

137,409

GROSS PROFIT

161,953

60,798

Administrative expenses

108,703

40,664

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE
TAXATION

2

53,250

20,134

Tax on profit on ordinary activities

3

10,900

4,674

PROFIT FOR THE FINANCIAL YEAR

42,350

15,460

FIXED ASSETS

Tangible assets

5

5,769

4,175

Investments

6

200

5,969

4,375

CURRENT ASSETS

Stocks

35,550

5,248

Debtors

7

44,700

43,740

Cash at bank

-

13,313

80,250

62,301

CREDITORS

Amounts falling due within one year

8

44,530

37,337

NET CURRENT ASSETS

35,720

24,964

TOTAL ASSETS LESS CURRENT LIABILITIES

41,689

29,339

PROVISIONS FOR LIABILITIES

9

97

NET ASSETS

41,592

29,242

CAPITAL AND RESERVES

Called up share capital

10

50

Profit and loss account

11

41,542

29,192

SHAREHOLDERS' FUNDS

41,592

29,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 3 February 2015 and were signed by:

M Hurst - 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.

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.

2.	OPERATING PROFIT

The operating profit is stated after charging:

30.6.14

30.6.13

£

Depreciation - owned assets

1,044

1,526

Director's remuneration and other benefits etc

43,865

23,866

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

30.6.14

30.6.13

£

Current tax:

UK corporation tax

10,900

4,186

prior year provision

-

391

Total current tax

10,900

4,577

Deferred tax

-

97

Tax on profit on ordinary activities

10,900

4,674

4.

DIVIDENDS

30.6.14

30.6.13

£

ordinary shares of 1 each

Interim

30,000

38,750

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2013

5,701

Additions

2,638

At 30 June 2014

8,339

DEPRECIATION

At 1 July 2013

1,526

Charge for year

1,044

At 30 June 2014

2,570

NET BOOK VALUE

At 30 June 2014

5,769

At 30 June 2013

4,175

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2013

and 30 June 2014

200

NET BOOK VALUE

At 30 June 2014

200

At 30 June 2013

200

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.14

30.6.13

£

Trade debtors

44,678

988

Other debtors

22

42,752

44,700

43,740

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.14

30.6.13

£

Bank loans and overdrafts

11,074

-

Trade creditors

22,556

14,308

Taxation and social security

10,900

13,094

Other creditors

-

9,935

44,530

37,337

9.	PROVISIONS FOR LIABILITIES

30.6.14

30.6.13

£

Deferred tax

Accelerated capital allowances

97

Deferred

tax

£

Balance at 1 July 2013

97

Balance at 30 June 2014

97

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

50

ordinary

1

50

11.

RESERVES

Profit

and loss

account

£

At 1 July 2013

29,192

Profit for the year

42,350

Dividends

(30,000

)

At 30 June 2014

41,542