Huttons Butchers Limited - Period Ending 2014-05-31

Registration number: 05676620

Huttons Butchers Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2014
 

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 2014

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 2014 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 profit 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

1 October 2014

Page 1

Huttons Butchers Limited
(Registration number: 05676620)
Abbreviated Balance Sheet at 31 May 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					277,921			285,932
Current assets
Debtors					35,498			26,914
Cash at bank and in hand					25,594			27,531
					61,092			54,445
Creditors: Amounts falling due within one year					(3,684)			(4,112)
Net current assets					57,408			50,333
Net assets					335,329			336,265
Capital and reserves
Called up share capital		3			330,000			330,000
Profit and loss account					5,329			6,265
Shareholders' funds					335,329			336,265

For the year ending 31 May 2014 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 9 September 2014 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 2014
......... 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).

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 2013		340,960			340,960
Disposals		(6,995)			(6,995)
At 31 May 2014		333,965			333,965
Depreciation
At 1 June 2013		55,028			55,028
Charge for the year		6,767			6,767
Eliminated on disposals		(5,751)			(5,751)
At 31 May 2014		56,044			56,044
Net book value
At 31 May 2014		277,921			277,921
At 31 May 2013		285,932			285,932

Page 3

Huttons Butchers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		330,000			330,000			330,000			330,000

4	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr Albert Trevor Mudd
Loan to A T Mudd brought forward	8,757	-	8,757	-
Advanced during year	5,028	3,000	-	-
	13,785	3,000	8,757	-
Mrs Elizabeth Mudd
Loan brought forward	13,380	-	9,780	-
Advanced in year	8,628	3,000	3,600	-
	22,008	3,000	13,380	-

Page 4