| Hollywood Industrial Supplies Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Hollywood Industrial Supplies Limited for the year ended 31 March 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Hollywood Industrial Supplies Limited for the year ended 31 March 2016 which comprise of the balance sheet and the related notes 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, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
| Jordanou & Co |
| Chartered Accountants |
| 1148a Stratford Road |
| Hall Green |
| Birmingham |
| West Midlands |
| B28 8AF |
|
| 10 November 2016 |
|
| Hollywood Industrial Supplies Limited |
| Registered number: |
06889868 |
| Abbreviated Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
7,200 |
|
|
7,600 |
| Tangible assets |
3 |
|
|
3,895 |
|
|
5,149 |
|
|
|
|
11,095 |
|
|
12,749 |
|
| Current assets |
| Stocks |
|
|
2,740 |
|
|
2,710 |
| Debtors |
|
|
20,300 |
|
|
22,701 |
| Cash at bank and in hand |
|
|
56,141 |
|
|
38,432 |
|
|
|
79,181 |
|
|
63,843 |
|
| Creditors: amounts falling due within one year |
|
|
(86,370) |
|
|
(73,519) |
|
| Net current liabilities |
|
|
|
(7,189) |
|
|
(9,676) |
|
| Net assets |
|
|
|
3,906 |
|
|
3,073 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
3,806 |
|
|
2,973 |
|
| Shareholders' funds |
|
|
|
3,906 |
|
|
3,073 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mr J Farrugia |
| Director |
| Approved by the board on 10 November 2016 |
|
| Hollywood Industrial Supplies Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents net invoiced sales of goods, excluding value added tax. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Fixture and fittings |
20% on reducing balance |
|
Motor vehicles |
25% on reducing balance |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
|
Goodwill |
|
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its useful life of twenty five years. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
10,000 |
|
At 31 March 2016 |
10,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2015 |
2,400 |
|
Provided during the year |
400 |
|
At 31 March 2016 |
2,800 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
7,200 |
|
At 31 March 2015 |
7,600 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
9,370 |
|
At 31 March 2016 |
9,370 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
4,221 |
|
Charge for the year |
1,254 |
|
At 31 March 2016 |
5,475 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
3,895 |
|
At 31 March 2015 |
5,149 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
