Abbreviated Company Accounts - 1HX SPORTS LIMITED

1HX SPORTS LIMITED - Company Information

08247448 1HX SPORTS LIMITED 2014-10-31 false 2013-11-01 2014-10-31 true 08247448 2013-11-01 2014-10-31 08247448 2014-10-31 08247448 2013-10-31 08247448 uk-gaap-cd-bus:Director1 2013-11-01 2014-10-31 08247448 uk-gaap-cd-bus:Director2 2013-11-01 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-11-01 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-31 iso4217:GBP shares

Registered Number 08247448

1HX SPORTS LIMITED

Abbreviated Accounts

31 October 2014

1HX SPORTS LIMITED Registered Number 08247448

Abbreviated Balance Sheet as at 31 October 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	17,400	23,200
Tangible assets	3	4,826	6,435
		22,226	29,635
Current assets
Stocks		10,214	9,272
Debtors		313	-
Cash at bank and in hand		3,404	7,208
		13,931	16,480
Creditors: amounts falling due within one year		(53,191)	(51,656)
Net current assets (liabilities)		(39,260)	(35,176)
Total assets less current liabilities		(17,034)	(5,541)
Total net assets (liabilities)		(17,034)	(5,541)
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		(17,134)	(5,641)
Shareholders' funds		(17,034)	(5,541)

For the year ending 31 October 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 23 October 2015

And signed on their behalf by:
I Croad, Director

1HX SPORTS LIMITED Registered Number 08247448

Notes to the Abbreviated Accounts for the period ended 31 October 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when the goods are dispatched, which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of ownership pass to the buyer.

Tangible assets depreciation policy
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:
Fixtures, fittings and equipment at 25% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

2Intangible fixed assets

	£
Cost
At 1 November 2013	29,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2014	29,000
Amortisation
At 1 November 2013	5,800
Charge for the year	5,800
On disposals	-
At 31 October 2014	11,600
Net book values
At 31 October 2014	17,400
At 31 October 2013	23,200

3Tangible fixed assets

	£
Cost
At 1 November 2013	8,580
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2014	8,580
Depreciation
At 1 November 2013	2,145
Charge for the year	1,609
On disposals	-
At 31 October 2014	3,754
Net book values
At 31 October 2014	4,826
At 31 October 2013	6,435

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100