Hallmark Glass & Glazing Limited - Period Ending 2015-03-31

Registration number: 06940120

Hallmark Glass & Glazing Limited

trading as Hallmark Glass and Glazing Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Douglas Jones Accountants Limited
33 High Street
Old Harlow
Essex
CM17 0DN

Hallmark Glass & Glazing Limited
trading as Hallmark Glass and Glazing Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Hallmark Glass & Glazing Limited
trading as Hallmark Glass and Glazing Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hallmark Glass & Glazing Limited for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Hallmark Glass & Glazing Limited, 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 Hallmark Glass & Glazing Limited 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 Hallmark Glass & Glazing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hallmark Glass & Glazing Limited 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 Hallmark Glass & Glazing Limited. You consider that Hallmark Glass & Glazing Limited 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 Hallmark Glass & Glazing Limited. 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.

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

Douglas Jones Accountants Limited
33 High Street
Old Harlow
Essex
CM17 0DN

5 April 2016

Page 1

Hallmark Glass & Glazing Limited
trading as Hallmark Glass and Glazing Limited
(Registration number: 06940120)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					5,000			6,000
Tangible fixed assets					562			96
					5,562			6,096
Current assets
Stocks					1,750			1,500
Debtors					21,694			14,479
					23,444			15,979
Creditors: Amounts falling due within one year					(16,673)			(23,512)
Net current assets/(liabilities)					6,771			(7,533)
Net assets/(liabilities)					12,333			(1,437)
Capital and reserves
Called up share capital		3			100			100
Share premium account					25,185			25,185
Profit and loss account					(12,952)			(26,722)
Shareholders' funds/(deficit)					12,333			(1,437)

For the year ending 31 March 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 5 April 2016

.........................................
Mr R Hall
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Hallmark Glass & Glazing Limited
trading as Hallmark Glass and Glazing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 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	Straight line method at 10%

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% Reducing balance method
Motor Vechicles	25% Reducing balance method

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.

Page 3

Hallmark Glass & Glazing Limited
trading as Hallmark Glass and Glazing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		10,000			6,464			16,464
At 31 March 2015		10,000			6,464			16,464
Depreciation
At 1 April 2014		4,000			6,368			10,368
Charge for the year		1,000			(466)			534
At 31 March 2015		5,000			5,902			10,902
Net book value
At 31 March 2015		5,000			562			5,562
At 31 March 2014		6,000			96			6,096

3	Share capital

Allotted, called up and fully paid shares

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

Page 4