HPFS Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04382619 (England and Wales)

HERBERT PARNELL FINANCIAL SERVICES LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

L S Ozanne

A M Peckham

A W Hodgetts

SECRETARY:

A M Peckham

REGISTERED OFFICE:

Station House

Connaught Road

Brookwood

WOKING

Surrey

GU24 0ER

REGISTERED NUMBER:

04382619 (England and Wales)

ACCOUNTANTS:

HPCA Limited

Chartered Accountants

Station House

Connaught Road

Brookwood

Woking

Surrey

GU24 0ER

FIXED ASSETS

Intangible assets

2

49,000

-

Tangible assets

3

4,372

10,818

53,372

10,818

CURRENT ASSETS

Debtors

11,997

11,493

Investments

51,961

50,000

Cash at bank

234,691

208,734

298,649

270,227

CREDITORS

Amounts falling due within one year

85,350

48,502

NET CURRENT ASSETS

213,299

221,725

TOTAL ASSETS LESS CURRENT LIABILITIES

266,671

232,543

PROVISIONS FOR LIABILITIES

12,908

14,095

NET ASSETS

253,763

218,448

CAPITAL AND RESERVES

Called up share capital

4

401

401

Profit and loss account

253,362

218,047

SHAREHOLDERS' FUNDS

253,763

218,448

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 15 March 2016 and were signed on its behalf by:

L S Ozanne - 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 the amounts derived from the provision of services falling within the company's

ordinary activities, after making provision for the estimated level of reversals of income arising from the

early termination of investment or life policies sold.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

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.

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

Additions

56,000

At 30 June 2015

56,000

AMORTISATION

Amortisation for year

7,000

At 30 June 2015

7,000

NET BOOK VALUE

At 30 June 2015

49,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

74,850

Additions

697

At 30 June 2015

75,547

DEPRECIATION

At 1 July 2014

64,032

Charge for year

7,143

At 30 June 2015

71,175

NET BOOK VALUE

At 30 June 2015

4,372

At 30 June 2014

10,818

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

381

'A' Ordinary

£1

381

381

20

'B' Ordinary

£1

20

20

401

401

5.	RELATED PARTY DISCLOSURES

Contributions towards office and accounting services amounting to £23,400 (2014 - £23,400) and rent

of £12,000 (2014: £12,000) were paid to HPCA Ltd during the year. Mr A Peckham and Mr A

Hodgetts, directors of Herbert Parnell Financial Services Ltd, are also directors of HPCA Ltd. There

were no amounts outstanding at the year end.