Holly's Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08232412 (England and Wales)

Holly's Limited

Abbreviated Unaudited Accounts

for the Period 1 October 2014 to 31 March 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Miss H Morris

REGISTERED OFFICE:

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

REGISTERED NUMBER:

08232412 (England and Wales)

ACCOUNTANTS:

Salisbury & Company

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

FIXED ASSETS

Intangible assets

2

8,000

Tangible assets

3

974

8,974

CURRENT ASSETS

Stocks

300

Debtors

48

Cash at bank and in hand

6,078

6,426

CREDITORS

Amounts falling due within one year

14,986

NET CURRENT LIABILITIES

(8,560

)

TOTAL ASSETS LESS CURRENT LIABILITIES

414

PROVISIONS FOR LIABILITIES

195

NET ASSETS

219

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

218

SHAREHOLDERS' FUNDS

219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 1 June 2016 and were signed by:

Miss H Morris - 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 January 2015).

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 2015, is being amortised evenly over its estimated useful life of five 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 etc

-

25% on cost and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

10,000

At 31 March 2016

10,000

AMORTISATION

Amortisation for period

2,000

At 31 March 2016

2,000

NET BOOK VALUE

At 31 March 2016

8,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

1,053

At 31 March 2016

1,053

DEPRECIATION

Charge for period

79

At 31 March 2016

79

NET BOOK VALUE

At 31 March 2016

974

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

£1

1