Harmat Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02495671

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2014

FOR

HARMAT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A W Matthews

Mrs A Matthews

SECRETARY:

Mrs A Matthews

REGISTERED OFFICE:

174 West End Lane

West Hampstead

London

NW6 1SD

REGISTERED NUMBER:

02495671

ACCOUNTANTS:

Civvals Limited

50 Seymour Street

London

W1H 7JG

FIXED ASSETS

Tangible assets

2

4,464

5,085

Investment property

3

2,350,000

2,200,000

2,354,464

2,205,085

CURRENT ASSETS

Debtors

2,617

2,839

Cash at bank

5,036

10,728

7,653

13,567

CREDITORS

Amounts falling due within one year

146,476

193,753

NET CURRENT LIABILITIES

(138,823

)

(180,186

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,215,641

2,024,899

CAPITAL AND RESERVES

Called up share capital

4

501

501

Revaluation reserve

1,765,005

1,615,005

Profit and loss account

450,135

409,393

SHAREHOLDERS' FUNDS

2,215,641

2,024,899

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 August 2015 and were signed on its behalf by:

A W Matthews - Director

Mrs A Matthews - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Investment properties

Investment properties are valued at their open market value at the balance sheet date. Any surplus on revaluation

is transferred to the investment property revaluation reserve. Any deficit is deducted from the investment

property revaluation reserve, except for permanent diminution in value, which are charged to the profit and loss

account.

In accordance with the Financial Reporting Standard for Smaller Entities, no provision for depreciation is made

in respect of investment properties with over 20 years to expiry. The director considers that this accounting

policy, which is a departure from the requirements of the Companies Act 2006 concerning depreciation of fixed

assets, is therefore necessary to provide a true and fair view. Depreciation is only one of the many factors

reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately

identified or quantified.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2013

28,516

Additions

867

At 30 November 2014

29,383

DEPRECIATION

At 1 December 2013

23,431

Charge for year

1,488

At 30 November 2014

24,919

NET BOOK VALUE

At 30 November 2014

4,464

At 30 November 2013

5,085

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 December 2013

2,200,000

Revaluations

150,000

At 30 November 2014

2,350,000

NET BOOK VALUE

At 30 November 2014

2,350,000

At 30 November 2013

2,200,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

501

Ordinary

£1

501

501

5.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by A W Matthews and Mrs A Matthews by virtue of jointly holding 100%

of the issued share capital as shown in the directors report.