Gary Hoerty Associates Ltd - Period Ending 2016-03-31

Registration number: 04619062

Gary Hoerty Associates Ltd

Unaudited Abbreviated Accounts

for the Period from 1 January 2015 to 31 March 2016

 

MacMahon Leggate Chartered Accountants Charter House 18-20 Finsley Gate Burnley BB11 2HA

Gary Hoerty Associates Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Gary Hoerty Associates Ltd
for the Period 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 accounts of Gary Hoerty Associates Ltd for the period ended 31 March 2016 set out on pages 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Gary Hoerty Associates Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gary Hoerty Associates Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gary Hoerty Associates Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gary Hoerty Associates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gary Hoerty Associates Ltd. You consider that Gary Hoerty Associates Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Gary Hoerty Associates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MacMahon Leggate
Chartered Accountants
Charter House
18-20 Finsley Gate
Burnley
Lancashire
BB11 2HA

22 December 2016

Page 1

Gary Hoerty Associates Ltd
(Registration number: 04619062)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			31 December 2014 £
Fixed assets
Tangible fixed assets					14,560			19,132
Current assets
Stocks					135,000			95,000
Debtors					49,771			67,229
Cash at bank and in hand					5,238			3,481
					190,009			165,710
Creditors: Amounts falling due within one year					(192,183)			(169,274)
Net current liabilities					(2,174)			(3,564)
Total assets less current liabilities					12,386			15,568
Creditors: Amounts falling due after more than one year					(8,682)			(13,337)
Net assets					3,704			2,231
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					3,604			2,131
Shareholders' funds					3,704			2,231

For the year ending 31 March 2016 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 22 December 2016

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Gary Hoerty Associates Ltd
(Registration number: 04619062)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mr G Hoerty
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Gary Hoerty Associates Ltd
Notes to the Abbreviated Accounts for the Period from 1 January 2015 to 31 March 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, 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 and fittings	20% reducing balance basis
Motor vehicles	25% reducing balance basis

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

Page 4

Gary Hoerty Associates Ltd
Notes to the Abbreviated Accounts for the Period from 1 January 2015 to 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		60,119			60,119
At 31 March 2016		60,119			60,119
Depreciation
At 1 January 2015		40,987			40,987
Charge for the period		4,572			4,572
At 31 March 2016		45,559			45,559
Net book value
At 31 March 2016		14,560			14,560
At 31 December 2014		19,132			19,132

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						31 December 2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 5