J Huddleston Limited - Period Ending 2014-11-30

Registration number: 3278032

J Huddleston Limited

Abbreviated Accounts

for the Year Ended 30 November 2014
 

787878787
J Huddleston Limited
Registration number: 3278032
Abbreviated Balance Sheet at 30 November 2014

		Note			2014						2013
	£			£			£			£
Fixed assets
Tangible fixed assets		2						12,188						14,603
Current assets
Debtors					10,823						6,134
Investments					30,000						30,000
Cash at bank and in hand					3,123						4,904
					43,946						41,038
Creditors: Amounts falling due within one year					(50,985)						(25,052)
Net current (liabilities)/assets								(7,039)						15,986
Total assets less current liabilities								5,149						30,589
Provisions for liabilities								(1,329)						(1,746)
Net assets								3,820						28,843
Capital and reserves
Called up share capital		3			100						100
Profit and loss account					3,720						28,743
Shareholders' funds								3,820						28,843

For the year ending 30 November 2014 the company was entitled to exemption from audit 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 directors acknowledge their 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 17 August 2015 and signed on its behalf by:

Mr J Huddleston
Director

The notes on pages 2 to 3 form an integral part of these financial statements.

787878787
J Huddleston Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014

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.

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
Plant and machinery	15% per annum on written down value
Motor vehicles	25% per annum on written down value
Buildings	5% per annum on straight line basis

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Assets held under finance leases and hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

The notes on pages 2 to 3 form an integral part of these financial statements.

787878787
J Huddleston Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2013		26,805			26,805
At 30 November 2014		26,805			26,805
Amortisation
At 1 December 2013		12,202			12,202
Charge for the year		2,415			2,415
At 30 November 2014		14,617			14,617
Net book value
At 30 November 2014		12,188			12,188
At 30 November 2013		14,603			14,603

3	Share capital

Allotted, called up and fully paid shares

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

The notes on pages 2 to 3 form an integral part of these financial statements.