MIKE_HUGHES_KITCHENS_AND_ - Accounts

MIKE HUGHES KITCHENS AND BEDROOMS LIMITED - Company Information

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Company Registration No. 03964416 (England and Wales)

MIKE HUGHES KITCHENS AND BEDROOMS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

MIKE HUGHES KITCHENS AND BEDROOMS LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

MIKE HUGHES KITCHENS AND BEDROOMS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

640

Tangible assets

217,592

222,413

217,593

223,053

Current assets

Stocks

105,548

103,822

Debtors

17,582

15,204

Cash at bank and in hand

125

8,767

123,255

127,793

Creditors: amounts falling due within one year

(203,669)

(128,297)

Net current liabilities

(80,414)

(504)

Total assets less current liabilities

137,179

222,549

Creditors: amounts falling due after more than one year

(112,881)

(125,207)

24,298

97,342

Capital and reserves

Called up share capital

100

Revaluation reserve

110,085

114,871

Profit and loss account

(85,887)

(17,629)

Shareholders' funds

24,298

97,342

MIKE HUGHES KITCHENS AND BEDROOMS LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 19 July 2016

Michael Hughes

Director

Company Registration No. 03964416

MIKE HUGHES KITCHENS AND BEDROOMS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The accounts have been prepared on the going concern basis, as the directors deem this to be appropriate due to their support and through the use of bank loans.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 15 years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

2% straight line

Plant and machinery

15% straight line

Fixtures, fittings & equipment

15%/33% straight line

Motor vehicles

20% straight line

1.6

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

MIKE HUGHES KITCHENS AND BEDROOMS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost or valuation

At 1 January 2015

9,600

286,312

295,912

Additions

1,119

Disposals

(9,950)

At 31 December 2015

9,600

277,481

287,081

Depreciation

At 1 January 2015

8,960

63,899

72,859

On disposals

(9,949)

Charge for the year

639

5,939

6,578

At 31 December 2015

9,599

59,889

69,488

Net book value

At 31 December 2015

217,592

217,593

At 31 December 2014

640

222,413

223,053

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £13,458 (2014 - £12,991).

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

54,170

68,538

The aggregate amount of creditors for which security has been given amounted to £112,881 (2014 - £125,208).

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100