Home Delivery Solutions Limited - Period Ending 2014-12-31

Registration number: 06966113

Home Delivery Solutions Limited
 
  Abbreviated Accounts
 
  for the Year Ended 31 December 2014
 

Home Delivery Solutions Limited
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					276,250			318,750
Tangible fixed assets					385,651			409,923
					661,901			728,673
Current assets
Stocks					19,968			-
Debtors					1,312,978			1,666,258
Cash at bank and in hand					32,040			78,527
					1,364,986			1,744,785
Creditors: Amounts falling due within one year					(1,665,947)			(2,228,774)
Net current liabilities					(300,961)			(483,989)
Total assets less current liabilities					360,940			244,684
Creditors: Amounts falling due after more than one year					(21,504)			(27,402)
Provisions for liabilities					(45,700)			(40,000)
Net assets					293,736			177,282
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					293,735			177,281
Shareholders' funds					293,736			177,282

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

These accounts were approved by the director and authorised for issue on 8 May 2015.

S.J. Taylor
 DirectorCompany Registration Number: 06966113

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Home Delivery Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014

1	Accounting policies

Basis of preparation

The full accounts, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The accounts have been prepared on a going concern basis on the assumption that the director will continue his support for the foreseeable future.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Goodwill	10 years straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Leasehold Property	10 years straight line basis
Pland & Machinery	10 years straight line basis
Motor Vehicles	10 years straight line basis
Equipment	3 years straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 2

Home Delivery Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014

Operating lease agreements

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company has created a trust whose beneficiaries will include employees of the company and their dependants. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion. Where assets are held in the trust and these are considered by the company to be in respect of services already provided by employees to the company, the company will account for these as assets of the trust when payment is made to the trust. The value transferred will be charged in the company's profit and loss account for the year to which it relates.

Page 3

Home Delivery Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		425,000			517,866			942,866
Additions		-			41,255			41,255
Disposals		-			(12,201)			(12,201)
At 31 December 2014		425,000			546,920			971,920
Depreciation
At 1 January 2014		106,250			107,943			214,193
Charge for the year		42,500			54,956			97,456
Eliminated on disposals		-			(1,630)			(1,630)
At 31 December 2014		148,750			161,269			310,019
Net book value
At 31 December 2014		276,250			385,651			661,901
At 31 December 2013		318,750			409,923			728,673

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

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