Company Registration No. 04321925 (England and Wales)
HKS INTERIORS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
HKS INTERIORS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
HKS INTERIORS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
10,500
12,000
Tangible assets
2
36,780
48,130
47,280
60,130
Current assets
Stocks
355,660
370,151
Debtors
53,168
52,151
Cash at bank and in hand
134,551
81,950
543,379
504,252
Creditors: amounts falling due within one year
(431,663)
(447,204)
Net current assets
111,716
57,048
Total assets less current liabilities
158,996
117,178
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
158,896
117,078
Shareholders' funds
158,996
117,178
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 18 April 2015
T J Burgess
Director
Company Registration No. 04321925
HKS INTERIORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Income and profit are recognised when work has been completed.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
15% Reducing balance
Motor vehicles
25% Reducing balance
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
HKS INTERIORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2014
30,000
150,175
180,175
Additions
3,168
3,168
Disposals
(12,949)
(12,949)
At 31 December 2014
30,000
140,394
170,394
Depreciation
At 1 January 2014
18,000
102,045
120,045
On disposals
(7,399)
(7,399)
Charge for the year
1,500
8,968
10,468
At 31 December 2014
19,500
103,614
123,114
Net book value
At 31 December 2014
10,500
36,780
47,280
At 31 December 2013
12,000
48,130
60,130
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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