Prince & Sons Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08113479 (England and Wales)

PRINCE & SONS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 30 JUNE 2013 TO 30 JUNE 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S Prince

REGISTERED OFFICE:

Station House

Connaught Road

Brookwood

WOKING

Surrey

GU24 0ER

REGISTERED NUMBER:

08113479 (England and Wales)

ACCOUNTANTS:

HPCA Limited

Chartered Accountants

Station House

Connaught Road

Brookwood

Woking

Surrey

GU24 0ER

FIXED ASSETS

Intangible assets

2

24,000

32,000

Tangible assets

3

25,227

22,789

49,227

54,789

CURRENT ASSETS

Debtors

6,725

6,983

Cash at bank and in hand

13,028

7,008

19,753

13,991

CREDITORS

Amounts falling due within one year

64,231

62,420

NET CURRENT LIABILITIES

(44,478

)

(48,429

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,749

6,360

PROVISIONS FOR LIABILITIES

2,038

547

NET ASSETS

2,711

5,813

RESERVES

Profit and loss account

2,711

5,813

2,711

5,813

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

The members have not required the company to obtain an audit of its financial statements for the period 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 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 20 March 2015 and were signed by:

S Prince - 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 the sale of food which is zero-rated for VAT. Income is recognised at the point of sale to the

customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

20% on cost

Improvements to property

-

20% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

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

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

lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 30 June 2013

and 30 June 2014

40,000

AMORTISATION

At 30 June 2013

8,000

Amortisation for period

8,000

At 30 June 2014

16,000

NET BOOK VALUE

At 30 June 2014

24,000

At 29 June 2013

32,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 30 June 2013

28,143

Additions

9,741

At 30 June 2014

37,884

DEPRECIATION

At 30 June 2013

5,354

Charge for period

7,303

At 30 June 2014

12,657

NET BOOK VALUE

At 30 June 2014

25,227

At 29 June 2013

22,789

4.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr. and Mrs. Prince.