Haruni Brothers Limited - Limited company accounts 11.7

REGISTERED NUMBER: 00707866 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

FOR

HARUNI BROTHERS LIMITED

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Mr R Haruni

SECRETARY:

Mr R Haruni

REGISTERED OFFICE:

39 Greville Street

London

EC1N 8PJ

REGISTERED NUMBER:

00707866 (England and Wales)

ACCOUNTANTS:

NWN Blue Squared Ltd

Chartered Certified Accountants

7 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

The director presents his report with the financial statements of the company for the year ended 30 September 2014.

DIRECTOR

Mr R Haruni held office during the whole of the period from 1 October 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

Mr R Haruni - Director

26 June 2015

TURNOVER

111,485

95,106

Cost of sales

88,210

115

GROSS PROFIT

23,275

94,991

Administrative expenses

26,487

82,555

OPERATING (LOSS)/PROFIT

2

(3,212

)

12,436

Interest receivable and similar income

20

(LOSS)/PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

(3,192

)

12,456

Tax on (loss)/profit on ordinary activities

3

-

4

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(3,192

)

12,452

Retained profit brought forward

32,997

20,545

RETAINED PROFIT CARRIED FORWARD

29,805

32,997

FIXED ASSETS

Tangible assets

4

1,780

1,982

CURRENT ASSETS

Debtors

5

182,109

180,053

Cash at bank

40,334

44,907

222,443

224,960

CREDITORS

Amounts falling due within one year

6

194,318

193,845

NET CURRENT ASSETS

28,125

31,115

TOTAL ASSETS LESS CURRENT LIABILITIES

29,905

33,097

CAPITAL AND RESERVES

Called up share capital

7

100

Profit and loss account

29,805

32,997

SHAREHOLDERS' FUNDS

29,905

33,097

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 26 June 2015 and were signed by:

Mr R Haruni - 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 sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

2.	OPERATING (LOSS)/PROFIT

The operating loss (2013 - operating profit) is stated after charging:

2014

2013

£

Depreciation - owned assets

202

269

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the loss on ordinary activities for the year was as follows:

2014

2013

£

Current tax:

UK corporation tax

-

4

Tax on (loss)/profit on ordinary activities

-

4

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

COST

At 1 October 2013

and 30 September 2014

1,175

26,772

6,184

34,131

DEPRECIATION

At 1 October 2013

-

26,296

5,853

32,149

Charge for year

-

119

83

202

At 30 September 2014

-

26,415

5,936

32,351

NET BOOK VALUE

At 30 September 2014

1,175

357

248

1,780

At 30 September 2013

1,175

476

331

1,982

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Trade debtors

50,813

47,173

Amounts owed by participating interests

40,920

Other debtors

87,295

88,991

Tax

1,026

Prepayments and accrued income

2,055

1,943

182,109

180,053

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Trade creditors

39,030

41,182

Amounts owed to participating interests

125,143

122,534

Tax

-

4

Other creditors

29,125

Accruals and deferred income

1,020

1,000

194,318

193,845

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary shares

£1

100

8.	RELATED PARTY DISCLOSURES

Limecroft Haulage Limited is a company with common shareholders Mrs E. Haruni and Mrs A. Haruni.

International Gemstones Limited, Alpha Gems (UK) Limited and Limecroft Haulage Limited have a common

director Mr. R. Haruni. Management fees to and from related parties are made on an arms length basis.

During the year transactions with related parties as defined by FRS 8 were as follows:

Management fee payable to International Gemstones Limited £Nil (2013: £Nil). Alpha Gems (UK) Limited £Nil

(2013: £Nil.

The company also received rent from International Gemstones Limited £5,000 (2013 : £5,000) and services

charges of £3,157.(2013 : £2,821). These amounts are disclosed within sales.

Amounts included in the balance sheet in respect of amounts owing from related parties are as follows;

International Gemstones Limited £40,920 (2013 : £40,920).

Amounts included in the balance sheet in respect of amounts owing to related parties are as follows;

Alpha Gems (UK) Limited £14,690. (2013 : (£14,690).

Limecroft Haulage Limited £110,724 (2013 : £107,844).

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R Haruni.