HLP Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05730612 (England and Wales)

Abbreviated Accounts for the Year Ended 30 June 2015

for

HLP Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr T R Lovett

REGISTERED OFFICE:

Hillgate Place

77 Middle Hillgate

Stockport

Cheshire

SK1 3EH

REGISTERED NUMBER:

05730612 (England and Wales)

ACCOUNTANT:

C A Foreman - FCCA, CIOT

59 Buckingham Road

Wilmslow

Cheshire

SK9 5LA

FIXED ASSETS

Intangible assets

2

4,200

5,500

Tangible assets

3

12,195

16,065

16,395

21,565

CURRENT ASSETS

Debtors

49,693

70,939

Cash at bank and in hand

17,771

4,676

67,464

75,615

CREDITORS

Amounts falling due within one year

4

51,715

63,456

NET CURRENT ASSETS

15,749

12,159

TOTAL ASSETS LESS CURRENT LIABILITIES

32,144

33,724

CREDITORS

Amounts falling due after more than one year

(8,000

)

(10,000

)

PROVISIONS FOR LIABILITIES

(2,439

)

(3,740

)

NET ASSETS

21,705

19,984

CAPITAL AND RESERVES

Called up share capital

5

10,000

10,000

Profit and loss account

11,705

9,984

SHAREHOLDERS' FUNDS

21,705

19,984

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 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 22 March 2016 and were signed by:

Mr T R Lovett - 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 2007, 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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Taxation

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred taxation is accounted for at expected tax rates on all differences arising from the inclusion of

items of income and expenditure in taxation computations in periods different from those in which they

are included in the financial statements. A deferred tax asset is only recognised when it is more likely

than not that the asset will be recoverable in the foreseeable future out of suitable taxable profits from

which the underlying timing differences can be deducted.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

13,000

AMORTISATION

At 1 July 2014

7,500

Amortisation for year

1,300

At 30 June 2015

8,800

NET BOOK VALUE

At 30 June 2015

4,200

At 30 June 2014

5,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

25,364

Additions

836

Disposals

(783

)

At 30 June 2015

25,417

DEPRECIATION

At 1 July 2014

9,299

Charge for year

4,600

Eliminated on disposal

(677

)

At 30 June 2015

13,222

NET BOOK VALUE

At 30 June 2015

12,195

At 30 June 2014

16,065

4.

CREDITORS

Creditors include an amount of £ 6,963 (2014 - £ 14,127 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

10,000

Ordinary shares

£1

10,000

10,000

6.	RELATED PARTY DISCLOSURES

Mr T R Lovett

A Director of the company

Included in creditors are the following amounts respect of monies owed to the director. This is seen as

a financing loan on which no interest is payable.

2015

2014

£

£

Amount due to related party at the balance sheet date

527

5,319

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr T R Lovett.

By virtue of his 100% ownership of the issued voting share capital.