Huw Parsons Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04888834 (England and Wales)

HUW PARSONS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

30 SEPTEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr H O L Parsons

SECRETARY:

Mrs B J Parsons

REGISTERED OFFICE:

Derwent

Feidr Tywod

Penparc

Cardigan

Ceredigion

SA43 1RE

REGISTERED NUMBER:

04888834 (England and Wales)

ACCOUNTANTS:

D M B Davies Limited

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

194,981

200,386

194,981

200,386

CURRENT ASSETS

Stocks

54,395

50,095

Debtors

23,588

-

Cash at bank

86,321

115,483

164,304

165,578

CREDITORS

Amounts falling due within one year

88,041

79,965

NET CURRENT ASSETS

76,263

85,613

TOTAL ASSETS LESS CURRENT LIABILITIES

271,244

285,999

CREDITORS

Amounts falling due after more than one year

-

9,098

NET ASSETS

271,244

276,901

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

271,144

276,801

SHAREHOLDERS' FUNDS

271,244

276,901

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 20 November 2015 and were signed by:

Mr H O L Parsons - Director

1.	ACCOUNTING POLICIES

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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 etc

-

25% on reducing balance and 15% 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 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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

30,000

AMORTISATION

At 1 October 2014

and 30 September 2015

30,000

NET BOOK VALUE

At 30 September 2015

-

At 30 September 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

260,447

Additions

15,033

Disposals

(7,000

)

At 30 September 2015

268,480

DEPRECIATION

At 1 October 2014

60,061

Charge for year

13,438

At 30 September 2015

73,499

NET BOOK VALUE

At 30 September 2015

194,981

At 30 September 2014

200,386

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary shares

£1

100

100

5.	ULTIMATE PARENT COMPANY