Huttons Butchers Limited - Period Ending 2016-05-31

Registration number: 05676620

Huttons Butchers Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Huttons Butchers 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 Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Huttons Butchers Limited
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Huttons Butchers Limited for the year ended 31 May 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Huttons Butchers 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 Huttons Butchers 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 Huttons Butchers Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Huttons Butchers 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 loss of Huttons Butchers Limited. You consider that Huttons Butchers 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 Huttons Butchers 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.

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

Darnbrough & Co Ltd
8 York Place
Knaresborough
North Yorkshire
HG5 0AA

26 August 2016

Page 1

Huttons Butchers Limited
(Registration number: 05676620)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					264,502			271,196
Current assets
Debtors					26,355			30,462
Cash at bank and in hand					26,550			36,810
					52,905			67,272
Creditors: Amounts falling due within one year					(770)			(2,393)
Net current assets					52,135			64,879
Net assets					316,637			336,075
Capital and reserves
Called up share capital		3			330,000			330,000
Profit and loss account					(13,363)			6,075
Shareholders' funds					316,637			336,075

For the year ending 31 May 2016 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 directors acknowledge their 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 Board on 4 August 2016 and signed on its behalf by:

.........................................
Mr Albert Trevor Mudd
Director

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

Huttons Butchers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... 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 January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

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
Freehold Property	2% on cost
Motor Vehicles	25% on reducing balance

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

		Tangible assets £			Total £
Cost
At 1 June 2015		333,965			333,965
At 31 May 2016		333,965			333,965
Depreciation
At 1 June 2015		62,769			62,769
Charge for the year		6,694			6,694
At 31 May 2016		69,463			69,463
Net book value
At 31 May 2016		264,502			264,502
At 31 May 2015		271,196			271,196

Page 3

Huttons Butchers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		330,000			330,000			330,000			330,000

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Albert Trevor Mudd
Loan to A T Mudd brought forward	10,785	3,000	13,285	2,500
Advanced during year	-	-	-	-
	10,785	3,000	13,285	2,500
Mrs Elizabeth Mudd
Loan brought forward	14,008	3,000	16,508	2,500
Advanced in year	-	-	-	-
	14,008	3,000	16,508	2,500

Page 4