Hamptons Trading Ltd - Period Ending 2014-11-30

Registration number: 07842405

Hamptons Trading Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2014
 

Tahas
Certified Accountants & Tax Advisors
Suite 2
4 Town Quay Wharaf
Barking
Essex
IG11 7BZ

Hamptons Trading Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Hamptons Trading Ltd
for the Year Ended 30 November 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hamptons Trading Ltd for the year ended 30 November 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Hamptons Trading Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hamptons Trading Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hamptons Trading Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hamptons Trading Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hamptons Trading Ltd. You consider that Hamptons Trading Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Hamptons Trading Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Tahas
Certified Accountants & Tax Advisors
Suite 2
4 Town Quay Wharaf
Barking
Essex
IG11 7BZ

Date:.............................

Page 1

Hamptons Trading Ltd
(Registration number: 07842405)
Abbreviated Balance Sheet at 30 November 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					56,129			64,148
Tangible fixed assets					13,870			18,493
					69,999			82,641
Current assets
Stocks					112,125			99,425
Debtors					16,700			17,150
Cash at bank and in hand					3,567			254
					132,392			116,829
Creditors: Amounts falling due within one year					(58,461)			(55,472)
Net current assets					73,931			61,357
Total assets less current liabilities					143,930			143,998
Creditors: Amounts falling due after more than one year					(119,020)			(114,841)
Net assets					24,910			29,157
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					24,810			29,057
Shareholders' funds					24,910			29,157

For the year ending 30 November 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 director acknowledges his 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 director on 14 August 2015

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Hamptons Trading Ltd
(Registration number: 07842405)
Abbreviated Balance Sheet at 30 November 2014
......... continued

.........................................
Mr Srinivas Reddy Pasham
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Hamptons Trading Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

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 for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	25% on reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Hamptons Trading Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 December 2013		80,185			29,611			109,796
At 30 November 2014		80,185			29,611			109,796
Depreciation
At 1 December 2013		16,037			11,118			27,155
Charge for the year		8,019			4,623			12,642
At 30 November 2014		24,056			15,741			39,797
Net book value
At 30 November 2014		56,129			13,870			69,999
At 30 November 2013		64,148			18,493			82,641

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 5