Mad Hares Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 07914834 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 March 2014

for

Mad Hares Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs S D Pratt

T J V Pratt

REGISTERED OFFICE:

192 Duffield Road

Derby

DE22 1BJ

REGISTERED NUMBER:

07914834 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Tangible assets

2

26,771

31,180

CURRENT ASSETS

Stocks

15,467

33,500

Debtors

902

3,362

Cash at bank

3,447

2,117

19,816

38,979

CREDITORS

Amounts falling due within one year

109,079

104,887

NET CURRENT LIABILITIES

(89,263

)

(65,908

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(62,492

)

(34,728

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(62,592

)

(34,828

)

SHAREHOLDERS' FUNDS

(62,492

)

(34,728

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 30 July 2014 and were signed on its behalf by:

Mrs S D Pratt - 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 April 2008).

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.

Short leasehold

-

over the period of the lease

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all material timing differences.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits

from which the future reversal of underlying timing differences and losses can be deducted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

36,608

DEPRECIATION

At 1 April 2013

5,428

Charge for year

4,409

At 31 March 2014

9,837

NET BOOK VALUE

At 31 March 2014

26,771

At 31 March 2013

31,180

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100