C. J. HAWORTH (INTERNATIONAL) LIMITED - Limited company accounts 11.7

REGISTERED NUMBER: 02847722 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2014

FOR

C. J. HAWORTH (INTERNATIONAL) LIMITED

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Mr C. J. Haworth

Mrs E N George

SECRETARY:

Mrs E N George

REGISTERED OFFICE:

16/18, Upland Road,

Dulwich,

London

SE22 9GG

REGISTERED NUMBER:

02847722 (England and Wales)

ACCOUNTANTS:

Bennett & Co

16-18 Upland Road

Dulwich

London

SE22 9GG

BANKERS:

The Royal Bank of Scotland,

The directors present their report with the financial statements of the company for the year ended 31 August 2014.

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of £6 per share.

The total distribution of dividends for the year ended 31 August 2014 will be £ 6,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2013 to the date of this

report.

Mr C. J. Haworth

Mrs E N George

ON BEHALF OF THE BOARD:

Mrs E N George - Secretary

29 June 2015

TURNOVER

408,078

333,616

Cost of sales

199,516

120,658

GROSS PROFIT

208,562

212,958

Administrative expenses

194,597

200,327

OPERATING PROFIT

3

13,965

12,631

Interest receivable and similar income

4

3

13,969

12,634

Interest payable and similar charges

868

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

13,101

11,766

Tax on profit on ordinary activities

4

3,400

(31

)

PROFIT FOR THE FINANCIAL YEAR

9,701

11,797

FIXED ASSETS

Tangible assets

6

23,400

30,600

CURRENT ASSETS

Stocks

7

116,141

115,456

Debtors

8

37,413

54,023

Cash at bank and in hand

88,330

7,572

241,884

177,051

CREDITORS

Amounts falling due within one year

9

185,417

131,485

NET CURRENT ASSETS

56,467

45,566

TOTAL ASSETS LESS CURRENT
LIABILITIES

79,867

76,166

CAPITAL AND RESERVES

Called up share capital

10

1,000

Profit and loss account

11

78,867

75,166

SHAREHOLDERS' FUNDS

79,867

76,166

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 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 Board of Directors on 29 June 2015 and were signed on its behalf by:

Mr C. J. Haworth - 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

-

20% on reducing balance

Motor vehicles

-

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

One of the directors is acquiring benefits under the company's pension scheme.

2.	STAFF COSTS

31.8.14

31.8.13

£

Wages and salaries

99,197

94,534

Social security costs

6,438

7,872

Other pension costs

2,500

2,400

108,135

104,806

The average monthly number of employees during the year was as follows:

31.8.14

31.8.13

Sales and administration

5

3.	OPERATING PROFIT

The operating profit is stated after charging:

31.8.14

31.8.13

£

Depreciation - owned assets

7,200

8,446

Directors' remuneration

24,000

4.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit on ordinary activities for the year was as follows:

31.8.14

31.8.13

£

Current tax:

UK corporation tax

3,400

(31

)

Tax on profit on ordinary activities

3,400

(31

)

5.

DIVIDENDS

31.8.14

31.8.13

£

Ordinary shares of £1 each

Final

6,000

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 September 2013

and 31 August 2014

43,391

41,843

85,234

DEPRECIATION

At 1 September 2013

35,391

19,243

54,634

Charge for year

1,600

5,600

7,200

At 31 August 2014

36,991

24,843

61,834

NET BOOK VALUE

At 31 August 2014

6,400

17,000

23,400

At 31 August 2013

8,000

22,600

30,600

7.

STOCKS

31.8.14

31.8.13

£

Stocks

116,141

115,456

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.14

31.8.13

£

Trade debtors

37,015

51,978

Other debtors

398

2,045

37,413

54,023

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.14

31.8.13

£

Bank loans and overdrafts

19,488

12,846

Hire purchase contracts

4,001

13,778

Trade creditors

82,504

31,467

Taxation and social security

14,964

10,691

Other creditors

64,460

62,703

185,417

131,485

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.14

31.8.13

value:

£

1,000

Ordinary

£1

1,000

11.

RESERVES

Profit

and loss

account

£

At 1 September 2013

75,166

Profit for the year

9,701

Dividends

(6,000

)

At 31 August 2014

78,867