Harmat Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02495671

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

FOR

HARMAT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A W Matthews

Mrs A Matthews

SECRETARY:

Mrs A Matthews

REGISTERED OFFICE:

174 West End Lane

West Hampstead

London

NW6 1SD

REGISTERED NUMBER:

02495671

ACCOUNTANTS:

Civvals Limited

50 Seymour Street

London

W1H 7JG

FIXED ASSETS

Tangible assets

2

3,795

4,464

Investment property

3

2,575,000

2,350,000

2,578,795

2,354,464

CURRENT ASSETS

Debtors

1,425

2,617

Cash at bank

43,480

5,036

44,905

7,653

CREDITORS

Amounts falling due within one year

130,174

146,476

NET CURRENT LIABILITIES

(85,269

)

(138,823

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,493,526

2,215,641

CAPITAL AND RESERVES

Called up share capital

4

501

Revaluation reserve

1,990,005

1,765,005

Profit and loss account

503,020

450,135

SHAREHOLDERS' FUNDS

2,493,526

2,215,641

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 5 July 2016 and were signed on its behalf by:

A W Matthews - Director

Mrs A Matthews - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of

certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Investment properties

Investment properties are valued at their open market value at the balance sheet date. Any surplus on revaluation is

transferred to the investment property revaluation reserve. Any deficit is deducted from the investment property

revaluation reserve, except for permanent diminution in value, which are charged to the profit and loss account.

In accordance with the Financial Reporting Standard for Smaller Entities, no provision for depreciation is made in

respect of investment properties with over 20 years to expiry. The director considers that this accounting policy,

which is a departure from the requirements of the Companies Act 2006 concerning depreciation of fixed assets, is

therefore necessary to provide a true and fair view. Depreciation is only one of the many factors reflected in the

annual valuation and the amount which might otherwise have been shown cannot be separately identified or

quantified.

Deferred tax

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

sheet date.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

29,383

Additions

596

At 30 November 2015

29,979

DEPRECIATION

At 1 December 2014

24,919

Charge for year

1,265

At 30 November 2015

26,184

NET BOOK VALUE

At 30 November 2015

3,795

At 30 November 2014

4,464

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 December 2014

2,350,000

Revaluations

225,000

At 30 November 2015

2,575,000

NET BOOK VALUE

At 30 November 2015

2,575,000

At 30 November 2014

2,350,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

501

Ordinary

£1

501

5.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by A W Matthews and Mrs A Matthews by virtue of jointly holding 100% of

the issued share capital as shown in the directors report.