| Heathside Trading Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Heathside Trading Limited for the year ended 31 August 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Heathside Trading Limited for the year ended 31 August 2015 which comprise of 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, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Heathside Trading Limited, as a body, in accordance with the terms of our engagement letter dated 11 October 2007. Our work has been undertaken solely to prepare for your approval the accounts of Heathside Trading Limited and state those matters that we have agreed to state to the Board of Directors of Heathside Trading Limited, as a body, 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 Heathside Trading Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Heathside Trading Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Heathside Trading Limited. You consider that Heathside Trading 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 accounts of Heathside Trading 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 abbreviated accounts. |
|
| Novitt Bamford Limited |
| Chartered Accountants |
| Pennyfarthing House |
| 560 Brighton Road |
| South Croydon |
| Surrey, |
| CR2 6AW |
|
| 30 October 2015 |
|
| Heathside Trading Limited |
| Registered number: |
05643603 |
| Abbreviated Balance Sheet |
| as at 31 August 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
70,837 |
|
|
8,885 |
|
| Current assets |
| Stocks |
|
|
2,929,041 |
|
|
2,072,661 |
| Debtors |
|
|
1,037,034 |
|
|
883,943 |
| Cash at bank and in hand |
|
|
147,622 |
|
|
98,599 |
|
|
|
4,113,697 |
|
|
3,055,203 |
|
| Creditors: amounts falling due within one year |
|
|
(1,688,285) |
|
|
(791,704) |
|
| Net current assets |
|
|
|
2,425,412 |
|
|
2,263,499 |
|
| Total assets less current liabilities |
|
|
|
2,496,249 |
|
|
2,272,384 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(462,167) |
|
|
(426,343) |
|
| Provisions for liabilities |
|
|
|
(10,154) |
|
|
(864) |
|
|
| Net assets |
|
|
|
2,023,928 |
|
|
1,845,177 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
200 |
|
|
200 |
| Profit and loss account |
|
|
|
2,023,728 |
|
|
1,844,977 |
|
| Shareholders' funds |
|
|
|
2,023,928 |
|
|
1,845,177 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Robert N Myers John C Nelson |
| Director |
Director |
| Approved by the board on 30 October 2015 |
|
| Heathside Trading Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 August 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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 |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Warehouse and Office Equipment |
25% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
Leashold costs |
Over 5 years straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 September 2014 |
27,172 |
|
Additions |
81,236 |
|
At 31 August 2015 |
108,408 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2014 |
18,287 |
|
Charge for the year |
19,284 |
|
At 31 August 2015 |
37,571 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2015 |
70,837 |
|
At 31 August 2014 |
8,885 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
200 |
|
200 |
|
200 |
|
|
|
|
|
|
|
|
|
