| HARVEY & COOMBES PUB COMPANY LTD. |
| UNAUDITED FINANCIAL STATEMENTS |
| 10 Month period ended 31 May 2015 |
| Balance Sheet (Continued...) |
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| For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. |
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| Members have not required the company to obtain an audit in accordance with section 476 of the act. |
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The directors acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records which comply with section 386 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company. |
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| These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller entities (effective April 2008) |
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| ON BEHALF OF THE BOARD: |
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| B. Coombes |
| Director |
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| Approved Date: |
03/12/2015 |
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| HARVEY & COOMBES PUB COMPANY LTD. |
| UNAUDITED FINANCIAL STATEMENTS |
| 10 Month period ended 31 May 2015 |
| Notes to the Accounts |
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| 1 |
ACCOUNTING POLICIES |
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Accounting Convention |
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The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Compliance with Accounting Standards |
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The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and have been applied consistently (except otherwise stated). |
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Turnover |
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The turnover shown in the net profit and loss account represents the amounts invoiced during the period, net of VAT. |
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Depreciation |
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Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows; |
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Freehold Property |
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30 Year Straight Line |
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Plant & Machinery |
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25% Reducing Balance |
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Fixtures & Fittings |
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20% Reducing Balance |
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Deferred Taxation |
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Deferred tax is recognised in resepct of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax, or a right to pay less tax, or a right to received repayments of tax.
Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
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| HARVEY & COOMBES PUB COMPANY LTD. |
| UNAUDITED FINANCIAL STATEMENTS |
| 10 Month period ended 31 May 2015 |
| Notes to the Accounts |
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| 4 |
TRANSACTIONS WITH DIRECTORS |
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During the year a loan account existed between the company and the directors. The balance payable by the company at the 31 May 2015. |
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2015 |
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£ |
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B. Coombes |
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280 |
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R. J. Harvey |
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14,478 |
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14,758 |
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| 5 |
RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
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2015 |
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£ |
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Profit / Loss for the financial year |
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- 18,301 |
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Share Redemption |
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- |
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Net addition to shareholders' funds |
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Net deduction to shareholders' funds |
18,301 |
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Opening Shareholders' funds |
- |
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Closing Shareholders' funds |
- 18,301 |
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Equity Interests |
- 18,301 |
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| 6 |
ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party as both B. Coombes and R. J. Harvey hold 50% of the issued share capital. |
