Howard & Wilton Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01770781

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Howard & Wilton Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

P H Mann

SECRETARY:

Mrs A K Mann

REGISTERED OFFICE:

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

REGISTERED NUMBER:

01770781

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

2

213

266

CURRENT ASSETS

Stocks

-

12,047

Debtors

-

242

Cash at bank

35,027

26,152

35,027

38,441

CREDITORS

Amounts falling due within one year

27,408

25,632

NET CURRENT ASSETS

7,619

12,809

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,832

13,075

CAPITAL AND RESERVES

Called up share capital

3

50,000

Profit and loss account

(42,168

)

(36,925

)

SHAREHOLDERS' FUNDS

7,832

13,075

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 12 December 2016 and were signed by:

P H Mann - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost and 20% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

417

DEPRECIATION

At 1 April 2015

151

Charge for year

53

At 31 March 2016

204

NET BOOK VALUE

At 31 March 2016

213

At 31 March 2015

266

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

20,000

Redeemable preference

£1.00

20,000

30,000

Ordinary

£1.00

30,000

50,000

The redeemable preference shares can be redeemed at any time for par at the shareholders option.

4.	DEFERRED TAX

No provision has been made for deferred taxation on accelerated capital allowances due to the availability of tax

deficits. The potential provision before tax deficits is £38 as an asset (2015: £45, asset), and deficits are available

of £104,799 (2015: £108,448).