Hughes & Armson Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05382637 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

Hughes & Armson Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N Bailey

RC Entecott

J Macmorland

REGISTERED OFFICE:

Ground Floor

19 New Road

Brighton

East Sussex

BN1 1UF

REGISTERED NUMBER:

05382637 (England and Wales)

ACCOUNTANTS:

Lucraft Hodgson & Dawes LLP

Ground Floor

19 New Road

Brighton

East Sussex

BN1 1UF

FIXED ASSETS

Intangible assets

2

34,440

37,720

Tangible assets

3

23,359

71,415

57,799

109,135

CURRENT ASSETS

Stocks

15,000

19,130

Debtors

22,869

26,463

Cash at bank and in hand

9,382

2,389

47,251

47,982

CREDITORS

Amounts falling due within one year

4

45,886

125,985

NET CURRENT ASSETS/(LIABILITIES)

1,365

(78,003

)

TOTAL ASSETS LESS CURRENT LIABILITIES

59,164

31,132

CREDITORS

Amounts falling due after more than one year

4

39,211

33,038

NET ASSETS/(LIABILITIES)

19,953

(1,906

)

CAPITAL AND RESERVES

Called up share capital

5

1,020

1,020

Profit and loss account

18,933

(2,926

)

SHAREHOLDERS' FUNDS

19,953

(1,906

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 5 October 2015 and were signed on its behalf by:

RC Entecott - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Cost of raw materials is determined on the first in first out basis. In the case of work in progress and finished goods,

cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable

value is the price at which the stock can be realised in the normal course of business, less further costs to completion

of sale.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

65,600

AMORTISATION

At 1 April 2014

27,880

Amortisation for year

3,280

At 31 March 2015

31,160

NET BOOK VALUE

At 31 March 2015

34,440

At 31 March 2014

37,720

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

155,762

Additions

1,055

Disposals

(84,758

)

At 31 March 2015

72,059

DEPRECIATION

At 1 April 2014

84,347

Charge for year

4,227

Eliminated on disposal

(39,874

)

At 31 March 2015

48,700

NET BOOK VALUE

At 31 March 2015

23,359

At 31 March 2014

71,415

4.

CREDITORS

Creditors include an amount of £ 46,960 (31.3.14 - £ 64,943 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

1,000

Ordinary

1

1,000

1,000

10

Ordinary B Non Voting

1

10

10

10

Ordinary C Non Voting

1

10

10

1,020

1,020