Hicks & Son Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04558066

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

HICKS & SON LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTOR:

G Hicks

SECRETARY:

Mrs S Hicks

REGISTERED OFFICE:

26 Church Street

Bishop's Stortford

Hertfordshire

CM23 2LY

REGISTERED NUMBER:

04558066

ACCOUNTANTS:

Morris Wheeler & Co Limited

Chartered Accountants

26 Church Street

Bishop's Stortford

Hertfordshire

CM23 2LY

FIXED ASSETS

Tangible assets

2

14,294

19,059

CURRENT ASSETS

Stocks

500

500

Debtors

16,200

21,448

16,700

21,948

CREDITORS

Amounts falling due within one year

3

68,179

65,384

NET CURRENT LIABILITIES

(51,479

)

(43,436

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(37,185

)

(24,377

)

CREDITORS

Amounts falling due after more than one year

3

4,694

12,152

NET LIABILITIES

(41,879

)

(36,529

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(41,979

)

(36,629

)

SHAREHOLDERS' FUNDS

(41,879

)

(36,529

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 23 October 2015 and were signed by:

G Hicks - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The preparation of the financial statements on the going concern basis is considered appropriate

despite the company having net liabilities. The director is of the opinion that there will be a reduction in

the deficit over the next twelve months. In the meantime he considers that the company will be able to

meet its ongoing liabilities as they fall due.

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.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

Deferred tax

Deferred tax is recognised in respect of all material 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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

50,002

DEPRECIATION

At 1 November 2013

30,943

Charge for year

4,765

At 31 October 2014

35,708

NET BOOK VALUE

At 31 October 2014

14,294

At 31 October 2013

19,059

3.

CREDITORS

Creditors include an amount of £ 12,152 (31.10.13 - £ 19,610 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

100

Ordinary

£1

100

100

5.	ULTIMATE CONTROLLING PARTY

The controlling party is G Hicks.

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to four) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Hicks & Son Limited for the year ended 31 October 2014 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Hicks & Son Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hicks & Son Limited and state those matters that we have agreed to state to the director of Hicks & Son Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Hicks & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hicks & Son Limited. You consider that Hicks & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hicks & Son

Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or

information and explanations you have given to us and we do not, therefore, express any opinion on the

statutory financial statements.

Morris Wheeler & Co Limited

Chartered Accountants

26 Church Street

Bishop's Stortford

Hertfordshire

CM23 2LY

26 October 2015