Holtstress Limited - Period Ending 2014-01-31

Registration number: 01969613

Holtstress Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2014
 

Auker Rhodes Accounting Limited
Chartered Accountants
Devonshire House
32-34 North Parade
Bradford
West Yorkshire
BD1 3HZ

Holtstress Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Holtstress Limited
(Registration number: 01969613)
Abbreviated Balance Sheet at 31 January 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					6,647			4,757
Current assets
Stocks					3,080			3,350
Debtors					442			422
					3,522			3,772
Creditors: Amounts falling due within one year					(92,103)			(78,179)
Net current liabilities					(88,581)			(74,407)
Net liabilities					(81,934)			(69,650)
Capital and reserves
Called up share capital		4			600			600
Profit and loss account					(82,534)			(70,250)
Shareholders' deficit					(81,934)			(69,650)

For the year ending 31 January 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 6 September 2014 and signed on its behalf by:

.........................................
Mr H Vaziri
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Holtstress Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 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 company meets its day to day capital requirements through an overdraft facility which is repayable on demand.

The directors consider it appropriate to prepare the financial statements on a going concern basis, despite the technical insolvency of the company. This is due to the continued support of the directors, who have introduced funds into the company to support it's operations. The financial statements do not include any adjustments that would result from a withdrawal of this support.

Turnover

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

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	15% p.a on a reducing balance basis
Fixtures, fittings & equipment	15% p.a on a reducing balance basis
Motor vehicles	25% p.a on a reducing balance basis

Stock and work in progress

Stock and work in progress are 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Holtstress Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2013		16,599			16,599
Additions		3,733			3,733
Disposals		(3,296)			(3,296)
At 31 January 2014		17,036			17,036
Depreciation
At 1 February 2013		11,842			11,842
Charge for the year		1,061			1,061
Eliminated on disposals		(2,514)			(2,514)
At 31 January 2014		10,389			10,389
Net book value
At 31 January 2014		6,647			6,647
At 31 January 2013		4,757			4,757

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		28,337			26,547

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
600 Ordinary shares of £1 each		600			600			600			600

5

Control

The company is controlled by Mr H Vaziri who is a director and the majority shareholder in the company.

Page 3