HERVIA_BAZAAR_LIMITED - Accounts

HERVIA BAZAAR LIMITED - Company Information

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Company Registration No. 05372235 (England and Wales)

HERVIA BAZAAR LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

HERVIA BAZAAR LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HERVIA BAZAAR LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

42,443

52,134

Current assets

Stocks

397,402

300,105

Debtors

81,755

48,826

Cash at bank and in hand

124,060

163,273

603,217

512,204

Creditors: amounts falling due within one year

(294,668)

(269,013)

Net current assets

308,549

243,191

Provisions for liabilities

(2,052)

348,940

295,325

Creditors: amounts falling due after more than one year

350,000

Shareholders' funds

Called up share capital

51,000

Profit and loss account

(52,060)

(105,675)

348,940

295,325

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 September 2015

Mr O V Pinto-Hervia

Mr R C Duncalf

Director

Company Registration No. 05372235

HERVIA BAZAAR LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements have been prepared on a going concern basis. Whilst the balance sheet shows an excess of liabilities over assets, the directors believe this basis to be appropriate because the company's major creditor is a long term loan from its parent. The parent company has indicated that it does not intend to seek repayment of this debt within the period of not less than 12 months from the date on which the accounts are approved.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Tenants Improvements

15% Reducing balance

Fixtures, fittings & equipment

25% Reducing balance

Website costs

25% Straight line

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

HERVIA BAZAAR LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2014

151,428

Additions

2,695

At 31 March 2015

154,123

Depreciation

At 1 April 2014

99,294

Charge for the year

12,386

At 31 March 2015

111,680

Net book value

At 31 March 2015

42,443

At 31 March 2014

52,134

Share capital

2015

2014

Allotted, called up and fully paid

51,000 Ordinary shares of £1 each

51,000

Ultimate parent company

The ultimate parent company is Hervia Group Limited, a company registered in England and Wales