Abbreviated Company Accounts - HALLS OF IBSTOCK LIMITED
Abbreviated Company Accounts - HALLS OF IBSTOCK LIMITED
Registered Number 01569572
HALLS OF IBSTOCK LIMITED
Abbreviated Accounts
31 January 2014
HALLS OF IBSTOCK LIMITED Registered Number 01569572
Abbreviated Balance Sheet as at 31 January 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 |
( |
( |
Net current assets (liabilities) |
( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 5 |
( |
( |
Total net assets (liabilities) |
( |
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Capital and reserves | |||
Called up share capital | 6 |
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Profit and loss account |
( |
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Shareholders' funds |
( |
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For the year ending 31 January 2014 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 directors acknowledge their 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 Board on
And signed on their behalf by:
HALLS OF IBSTOCK LIMITED Registered Number 01569572
Notes to the Abbreviated Accounts for the period ended 31 January 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Equipment on rental - 25% straight line per annum
Fixtures and equipment - 15% straight line per annum
Motor vehicles - 25% straight line per annum
Intangible assets amortisation policy
Goodwill - Over 10 years
Other accounting policies
The company is supported by the shareholders and directors of the company, who will continue to support the company for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Investments
Investments held as fixed assets are shown at cost less provision for impairment.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
£ | |
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Cost | |
At 1 February 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2014 |
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Amortisation | |
At 1 February 2013 |
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Charge for the year |
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On disposals |
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At 31 January 2014 |
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Net book values | |
At 31 January 2014 | 45,000 |
At 31 January 2013 | 50,000 |
£ | |
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Cost | |
At 1 February 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2014 |
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Depreciation | |
At 1 February 2013 |
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Charge for the year |
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On disposals |
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At 31 January 2014 |
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Net book values | |
At 31 January 2014 | 17,185 |
At 31 January 2013 | 13,257 |
4Fixed assets Investments
At 1 February 2013 - 9,933
Additions - 273
At 31 January 2014 - 10,206
Net book value
At 31 January 2014 - 10,206
At 31 January 2013 - 9,933
2014
£ |
2013
£ |
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Secured Debts |
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