Hire or Buy Group Limited - Limited company - abbreviated - 11.0.0
Hire or Buy Group Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| FOR |
| HIRE OR BUY GROUP LIMITED |
| HIRE OR BUY GROUP LIMITED (REGISTERED NUMBER: 01386833) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| HIRE OR BUY GROUP LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| HIRE OR BUY GROUP LIMITED (REGISTERED NUMBER: 01386833) |
| ABBREVIATED BALANCE SHEET |
| 31 DECEMBER 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Other reserves |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| HIRE OR BUY GROUP LIMITED (REGISTERED NUMBER: 01386833) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 DECEMBER 2013 |
| The financial statements were approved by the Board of Directors on |
| HIRE OR BUY GROUP LIMITED (REGISTERED NUMBER: 01386833) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on the assumption that the company is able to carry on business as a going |
| concern. The directors consider this to be appropriate having recently renewed its banking facilities and having |
| considered the future trading prospects of the business. The company also benefits from the support of its |
| directors and shareholders. |
| 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). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Hire or Buy Group Limited as an individual company and do |
| not contain consolidated financial information as the parent of a group. The company has taken the option under |
| Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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 |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| and 31 December 2013 |
| AMORTISATION |
| At 1 January 2013 |
| and 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| HIRE OR BUY GROUP LIMITED (REGISTERED NUMBER: 01386833) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2013 |
| DEPRECIATION |
| At 1 January 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 2013 | 2012 |
| £ | £ |
| Investments in subsidiaries |
| The company's investments at the balance sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary |
| £ | £ |
| Aggregate capital and reserves | 2 | 2 |
| This company became dormant on 30 September 1998 when the group activities were consolidated into Hire or |
| Buy Group Limited. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary |
| £ | £ |
| Aggregate capital and reserves | 2 | 2 |
| This company became dormant on 30 September 1998 when the group activities were consolidated into Hire or |
| Buy Group Limited. |
| HIRE OR BUY GROUP LIMITED (REGISTERED NUMBER: 01386833) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary |
| £ | £ |
| Aggregate capital and reserves | 10 | 10 |
| This company has been dormant since incorporation. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary |
| £ | £ |
| Aggregate capital and reserves | - | 100 |
| During the year this Company was struck off at Companies House, and has been written off accordingly. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary |
| £ | £ |
| Aggregate capital and reserves | 1 | 1 |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| Ordinary | £1 |
| Redeemable ordinary | £1 |
| 122 | 122 |
| By Special Resolution the directors have exercised their powers under the Company's Articles of Association to |
| issue Ordinary Redeemable Employee Shares (Non Voting) out of the existing authorised share capital of the |
| Company. These are non-equity shares and are redeemable either when an employee leaves the employment or |
| at the option of the company at any point. |
| HIRE OR BUY GROUP LIMITED (REGISTERED NUMBER: 01386833) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 7. | RELATED PARTY DISCLOSURES |
| Mr N A Stewart ultimately controls the company by virtue of his controlling interest in the issued ordinary share |
| capital. |
| Mr N A Stewart has given a personal guarantee up to the value of £10,000 for a rental lease of the Company. |
| The Company paid rent of £28,000 during the year to pension funds in which Mr N A Stewart and Mrs R A |
| Stewart have beneficial interests. |
| Mr N A Stewart has provided a loan to the Company, the amount outstanding at 31 December 2013 was |
| £194,803. |
| Mr J R Newland has provided a loan to the Company, the amount outstanding at 31 December 2013 was £789. |
| During 2013 the directors charged the Company loan interest against these loans of £11,855. |