PETER_HUTCHINSON_DESIGNS_ - Accounts

PETER HUTCHINSON DESIGNS LIMITED - Company Information

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Company Registration No. 07264582 (England and Wales)

PETER HUTCHINSON DESIGNS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

PETER HUTCHINSON DESIGNS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

PETER HUTCHINSON DESIGNS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

15,000

16,000

Tangible assets

46,566

18,349

61,566

34,349

Current assets

Stocks

119,593

85,637

Debtors

53,871

22,981

Cash at bank and in hand

137,958

88,185

311,422

196,803

Creditors: amounts falling due within one year

(290,049)

(151,454)

Net current assets

21,373

45,349

Total assets less current liabilities

82,939

79,698

Provisions for liabilities

(8,670)

(2,886)

74,269

76,812

Capital and reserves

Called up share capital

100

Profit and loss account

74,169

76,712

Shareholders' funds

74,269

76,812

PETER HUTCHINSON DESIGNS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 12 August 2015

P M Hutchinson

P A Elliot

Director

Company Registration No. 07264582

PETER HUTCHINSON DESIGNS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts.

Revenue is invoiced and recognised at the point of sale.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

1.5

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

1.6

Tangible fixed assets and depreciation

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:

Plant and machinery

15% Reducing balance

Website development

20% Straight line

Fixtures, fittings & equipment

25% Reducing balance

1.7

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.8

Stock

Stock is valued at the lower of cost and net realisable value.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

PETER HUTCHINSON DESIGNS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2014

20,000

34,583

54,583

Additions

38,618

Disposals

(1,482)

At 31 March 2015

20,000

71,719

91,719

Depreciation

At 1 April 2014

4,000

16,234

20,234

On disposals

(708)

Charge for the year

1,000

9,627

10,627

At 31 March 2015

5,000

25,153

30,153

Net book value

At 31 March 2015

15,000

46,566

61,566

At 31 March 2014

16,000

18,349

34,349

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100