Highnett Limited - Limited company - abbreviated

REGISTERED NUMBER: 02998901 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2014

for

HIGHNETT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTORS:

S Highnett

Mrs C Highnett

SECRETARY:

Mrs C Highnett

REGISTERED OFFICE:

Units E1 & E2

Raceview Business Centre

Hambridge Road

Newbury

RG14 5SA

REGISTERED NUMBER:

02998901 (England and Wales)

ACCOUNTANTS:

Grosvenor House Practice Limited

Chartered Certified Accountants

Avening

Priory Park

London Road

TETBURY

Gloucestershire

GL8 8HZ

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

21,283

15,579

21,283

15,579

CURRENT ASSETS

Stocks

36,999

40,000

Debtors

189,526

158,182

Prepayments and accrued income

12,839

8,752

Cash at bank and in hand

80,114

37,394

319,478

244,328

CREDITORS

Amounts falling due within one year

(253,133

)

(207,417

)

NET CURRENT ASSETS

66,345

36,911

TOTAL ASSETS LESS CURRENT
LIABILITIES

87,628

52,490

CREDITORS

Amounts falling due after more than one
year

(32,387

)

(38,493

)

NET ASSETS

55,241

13,997

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

55,141

13,897

SHAREHOLDERS' FUNDS

55,241

13,997

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 24 September 2014 and were signed on
its behalf by:

Mrs C Highnett - 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 2008, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

and 30 April 2014

15,000

AMORTISATION

At 1 May 2013

and 30 April 2014

15,000

NET BOOK VALUE

At 30 April 2014

-

At 30 April 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

69,503

Additions

12,797

At 30 April 2014

82,300

DEPRECIATION

At 1 May 2013

53,924

Charge for year

7,093

At 30 April 2014

61,017

NET BOOK VALUE

At 30 April 2014

21,283

At 30 April 2013

15,579

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.14

30.4.13

value:

£

100

Ordinary Shares

1

100

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Highnett Limited for the year ended 30 April 2014 which comprise the Profit and

Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its

ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Highnett Limited, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial

statements of Highnett Limited and state those matters that we have agreed to state to the Board of Directors

of Highnett Limited, as a body, in this report in accordance with the requirements of the Association of

Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board

of Directors, as a body, for our work or for this report.

It is your duty to ensure that Highnett Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of

Highnett Limited. You consider that Highnett 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 financial statements of Highnett 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 financial

statements.

Grosvenor House Practice Limited

Chartered Certified Accountants

Avening

Priory Park

London Road

TETBURY

Gloucestershire

GL8 8HZ

Date: .............................................

Highnett Limited - Limited company - abbreviated - 11.0.0

Highnett Limited - Limited company - abbreviated - 11.0.0