Abbreviated Company Accounts - HUGHES & CO LIMITED

HUGHES & CO LIMITED - Company Information

07406378 HUGHES & CO LIMITED 2014-10-31 false 2013-11-01 2014-10-31 true 07406378 2013-11-01 2014-10-31 07406378 2014-10-31 07406378 2013-10-31 07406378 uk-gaap-cd-bus:Director1 2013-11-01 2014-10-31 07406378 uk-gaap-cd-bus:Director2 2013-11-01 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-11-01 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-11-01 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-10-31 iso4217:GBP shares

Registered Number 07406378

HUGHES & CO LIMITED

Abbreviated Accounts

31 October 2014

HUGHES & CO LIMITED Registered Number 07406378

Abbreviated Balance Sheet as at 31 October 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	28,700	42,700
Tangible assets	3	13,574	18,686
		42,274	61,386
Current assets
Stocks		1,558	3,075
Debtors		29,536	25,310
Cash at bank and in hand		36,102	19,128
		67,196	47,513
Creditors: amounts falling due within one year		(41,652)	(57,350)
Net current assets (liabilities)		25,544	(9,837)
Total assets less current liabilities		67,818	51,549
Provisions for liabilities		(672)	(2,793)
Total net assets (liabilities)		67,146	48,756
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		67,144	48,754
Shareholders' funds		67,146	48,756

For the year ending 31 October 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 directors acknowledge their 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.

Approved by the Board on 10 June 2015

And signed on their behalf by:
David I Hughes, Director

HUGHES & CO LIMITED Registered Number 07406378

Notes to the Abbreviated Accounts for the period ended 31 October 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

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

Tangible assets depreciation policy
Tangible fixed assets are written off over their useful life, taking into account any residual value
Fixtures, Fittings and Buildings 25% reducing balance

Intangible assets amortisation policy
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 annually for impairment.

Valuation information and policy
work in progress is valued at the lower of cost or net realisable value, after due regard for obsolete and slow moving stocks

Other accounting policies
The Company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they are payable in accordance with the rule of the scheme.

2Intangible fixed assets

	£
Cost
At 1 November 2013	61,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2014	61,000
Amortisation
At 1 November 2013	18,300
Charge for the year	14,000
On disposals	-
At 31 October 2014	32,300
Net book values
At 31 October 2014	28,700
At 31 October 2013	42,700

3Tangible fixed assets

	£
Cost
At 1 November 2013	25,349
Additions	609
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2014	25,958
Depreciation
At 1 November 2013	6,663
Charge for the year	5,721
On disposals	-
At 31 October 2014	12,384
Net book values
At 31 October 2014	13,574
At 31 October 2013	18,686

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
1 Ordinary share of £1 each	1	1
1 B Ordinary shares of £1 each	1	1