Harewood Stockton Limited - Period Ending 2013-12-31

Registration number: 07305875

Harewood Stockton Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Harewood Stockton Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Harewood Stockton Limited
(Registration number: 07305875)
Abbreviated Balance Sheet at 31 December 2013

		Note			31 December 2013 £			31 December 2012 £
Fixed assets
Tangible fixed assets					-			87,855
Current assets
Stocks					-			10,906
Debtors					50,000			17,428
Cash at bank and in hand					-			12,647
					50,000			40,981
Creditors: Amounts falling due within one year					-			(469,783)
Net current assets/(liabilities)					50,000			(428,802)
Net assets/(liabilities)					50,000			(340,947)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					49,999			(340,948)
Shareholders' funds/(deficit)					50,000			(340,947)

For the year ending 31 December 2013 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 director acknowledges his 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 director on 30 September 2014

.........................................
P Kinsey
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Harewood Stockton Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... 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).

Going concern

Following the transfer of its main trade and associated assets on 22 April 2013 to Harewood Venues Limited, the Company became dormant. The directors are of the opinion that the company remains a going concern on the basis that it is solvent and could re-commence trading at a point in the future.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

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
Fixtures, fittings & equipment	25% straight line

Stock

Stock is valued at the lower of cost and net realisable value

Deferred tax

Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayment outstanding.

Page 2

Harewood Stockton Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

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 January 2013		146,425			146,425
Disposals		(146,425)			(146,425)
At 31 December 2013		-			-
Depreciation
At 1 January 2013		58,570			58,570
Charge for the year		9,762			9,762
Eliminated on disposals		(68,332)			(68,332)
At 31 December 2013		-			-
Net book value
At 31 December 2013		-			-
At 31 December 2012		87,855			87,855

3	Share capital

Allotted, called up and fully paid shares

	31 December 2013						31 December 2012
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

4

Control

The company is controlled by Fresh Evening Limited by virtue of its 100% holding of the issued share capital of the company. The financial statements of Fresh Evening Limited are available from Companies House, Cardiff. The ultimate controlling party is P Kinsey by virtue of his majority holding of the share capital in Fresh Evening Limited.

Page 3