Hartford Automotive Ltd - Period Ending 2015-04-30

Registration number: 08044684

Hartford Automotive Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

AIMs Accountants for Business
Chartered Institute of Management Accountants
Twitchen
Odiham Road
Riseley
Berks
RG7 1SD

Hartford Automotive Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Hartford Automotive Ltd
for the Year Ended 30 April 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hartford Automotive Ltd for the year ended 30 April 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants in England and Wales (ACMA), we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Hartford Automotive Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hartford Automotive Ltd and state those matters that we have agreed to state to them, 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 Hartford Automotive Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hartford Automotive Ltd 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 Hartford Automotive Ltd. You consider that Hartford Automotive Ltd 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 Hartford Automotive Ltd. 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 statutory accounts.

......................................

AIMs Accountants for Business
Chartered Institute of Management Accountants
Twitchen
Odiham Road
Riseley
Berks
RG7 1SD

22 January 2016

Page 1

Hartford Automotive Ltd
(Registration number: 08044684)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					47,250			53,550
Tangible fixed assets					1,654			1,262
					48,904			54,812
Current assets
Stocks					84,069			94,678
Debtors					7,500			9,358
Cash at bank and in hand					36,959			39,517
					128,528			143,553
Creditors: Amounts falling due within one year					(110,220)			(123,813)
Net current assets					18,308			19,740
Total assets less current liabilities					67,212			74,552
Creditors: Amounts falling due after more than one year					(6,500)			(12,500)
Net assets					60,712			62,052
Capital and reserves
Called up share capital		3			100			100
Share premium account					52,400			52,400
Profit and loss account					8,212			9,552
Shareholders' funds					60,712			62,052

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 22 January 2016

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Hartford Automotive Ltd
(Registration number: 08044684)
Abbreviated Balance Sheet at 30 April 2015
......... continued

.........................................
Mr Jonathan Mahony
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Hartford Automotive Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straightline basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	25% straight line basis
Fixtures and Fittings	25% straight line basis
Plant and Machinery	25% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Hartford Automotive Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2014		63,000			2,026			65,026
Additions		-			1,019			1,019
At 30 April 2015		63,000			3,045			66,045
Depreciation
At 1 May 2014		9,450			764			10,214
Charge for the year		6,300			627			6,927
At 30 April 2015		15,750			1,391			17,141
Net book value
At 30 April 2015		47,250			1,654			48,904
At 30 April 2014		53,550			1,262			54,812

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

New shares allotted

During the year - having an aggregate nominal value of £nil were allotted for an aggregate consideration of £nil.

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Jonathan Mahony
Balance owing to director on directors loan account	(33,512)	1,207	(34,719)	17,409

Page 5