Peter Hepworth Components Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06529446 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2014

FOR

PETER HEPWORTH COMPONENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G P C Hepworth

Mrs C A Hepworth

SECRETARY:

G P C Hepworth

REGISTERED OFFICE:

3 & 4 Park Court

Riccall Road

Escrick

York

North Yorkshire

YO19 6ED

REGISTERED NUMBER:

06529446 (England and Wales)

ACCOUNTANTS:

CGA

Chartered Certified Accountants

3 & 4 Park Court

Riccall Road

Escrick

York

North Yorkshire

YO19 6ED

FIXED ASSETS

Intangible assets

2

91,000

97,500

Tangible assets

3

5,724

1,782

Investments

4

8,000

-

104,724

99,282

CURRENT ASSETS

Stocks

14,611

17,315

Debtors

100,092

95,997

Cash at bank and in hand

56

6,317

114,759

119,629

CREDITORS

Amounts falling due within one year

5

77,132

44,015

NET CURRENT ASSETS

37,627

75,614

TOTAL ASSETS LESS CURRENT LIABILITIES

142,351

174,896

PROVISIONS FOR LIABILITIES

1,145

356

NET ASSETS

141,206

174,540

CAPITAL AND RESERVES

Called up share capital

6

2

2

Profit and loss account

141,204

174,538

SHAREHOLDERS' FUNDS

141,206

174,540

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2014 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.

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 Board of Directors on 28th June 2014 and were signed on its behalf by:

G P C Hepworth - 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 goods, excluding value added tax.

Revenue is recognised once the goods have been sold and where it is virtually certain that payment will be

received.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

and 31st March 2014

130,000

AMORTISATION

At 1st April 2013

32,500

Amortisation for year

6,500

At 31st March 2014

39,000

NET BOOK VALUE

At 31st March 2014

91,000

At 31st March 2013

97,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

3,414

Additions

5,851

At 31st March 2014

9,265

DEPRECIATION

At 1st April 2013

1,632

Charge for year

1,909

At 31st March 2014

3,541

NET BOOK VALUE

At 31st March 2014

5,724

At 31st March 2013

1,782

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

8,000

At 31st March 2014

8,000

NET BOOK VALUE

At 31st March 2014

8,000

5.

CREDITORS

Creditors include an amount of £ 47,231 for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year under review the directors made transactions with the company.

The company made advances totalling £103,717 (2013 - £93,715) and this was offset by credits totalling

£102,971 (2013 - £91,440) of which £101,000 (2013 - £84,000) comprised a voted dividend.

The company also paid the directors £8,880 (2013 - £8,880) in the year in respect of rent.

At the year end, the amount owed to the directors was £264 (2013 - £1,010) and this is included within other

creditors.

This balance has no interest charged thereon.

There are no conditions attached to advances to the director, however, the director must ensure that this is not

detrimental to the company.

8.	CONTROLLING PARTY

The company is under control by the directors by virtue of their 100% shareholding.