Hortic Express Limited - Period Ending 2014-12-31

Registration number: 03898900

Hortic Express Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Hortic Express Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Hortic Express Limited
(Registration number: 03898900)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					4,161			7,536
Tangible fixed assets		2			156,079			141,689
					160,240			149,225
Current assets
Stocks					42,369			25,428
Debtors					348,987			254,357
Cash at bank and in hand					442			442
					391,798			280,227
Creditors: Amounts falling due within one year					(242,925)			(264,401)
Net current assets					148,873			15,826
Total assets less current liabilities					309,113			165,051
Creditors: Amounts falling due after more than one year					(94,893)			-
Provisions for liabilities					(10,853)			(11,412)
Net assets					203,367			153,639
Capital and reserves
Called up share capital		4			3			3
Profit and loss account					203,364			153,636
Shareholders' funds					203,367			153,639

For the year ending 31 December 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 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 .

Approved by the Board on 30 September 2015 and signed on its behalf by:

 A F C Nicholl-Smith
 Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Hortic Express Limited
(Registration number: 03898900)
Abbreviated Balance Sheet at 31 December 2014
......... continued

  C J Nicholl-Smith
 Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Hortic Express Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

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

Amortisation

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

Asset class	Amortisation method and rate
Website Design	50% per annum on cost

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	10% per annum on WDV
Office equipment	15% per annum on WDV

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

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.

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.

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Hortic Express Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		54,166			199,319			253,485
Additions		8,324			23,887			32,211
At 31 December 2014		62,490			223,206			285,696
Depreciation
At 1 January 2014		46,630			57,630			104,260
Charge for the year		11,699			9,497			21,196
At 31 December 2014		58,329			67,127			125,456
Net book value
At 31 December 2014		4,161			156,079			160,240
At 31 December 2013		7,536			141,689			149,225

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years by instalments		14,893			-

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		3			3			3			3

Page 4

Hortic Express Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

5

Control

The company is controlled by Tsehai Limited, a company registered in England and Wales. The current directors hold all of the shares in Tsehai Limited.

Page 5