High Peak Carpets and Furnishings Limite - Abbreviated accounts 16.3

High Peak Carpets and Furnishings Limite - Abbreviated accounts 16.3

HIGH PEAK CARPETS AND FURNISHINGS LIMITED - Company Information

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REGISTERED NUMBER: 04286463















Abbreviated Unaudited Accounts for the Year Ended 31 October 2016

for

High Peak Carpets and Furnishings
Limited

High Peak Carpets and Furnishings
Limited (Registered number: 04286463)






Contents of the Abbreviated Accounts
for the Year Ended 31 October 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

High Peak Carpets and Furnishings
Limited

Company Information
for the Year Ended 31 October 2016







DIRECTOR: C Martin





REGISTERED OFFICE: Unit 1
Holker Road
Buxton
Derbyshire
SK17 6QN





REGISTERED NUMBER: 04286463





ACCOUNTANTS: DLA Chartered Accountants
36A Market Street
New Mills
High Peak
SK22 4AA
Page 1
High Peak Carpets and Furnishings
Limited (Registered number: 04286463)

Abbreviated Balance Sheet
31 October 2016

31.10.16 31.10.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 18,319 24,426

CURRENT ASSETS
Stocks 9,250 15,500
Debtors 750 4,401
Cash at bank 67,481 23,204
77,481 43,105
CREDITORS
Amounts falling due within one year 45,207 38,855
NET CURRENT ASSETS 32,274 4,250
TOTAL ASSETS LESS CURRENT
LIABILITIES
50,593
28,676

CREDITORS
Amounts falling due after more than one
year
2,166
5,879
NET ASSETS 48,427 22,797

CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and loss account 48,327 22,697
SHAREHOLDERS' FUNDS 48,427 22,797

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 26 July 2017 and were signed by:





C Martin - Director


The notes form part of these abbreviated accounts

Page 2
High Peak Carpets and Furnishings
Limited (Registered number: 04286463)

Notes to the Abbreviated Accounts
for the Year Ended 31 October 2016

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 timing differences that have originated but not reversed at the
balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The
capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 November 2015
and 31 October 2016 36,048
DEPRECIATION
At 1 November 2015 11,622
Charge for year 6,107
At 31 October 2016 17,729
NET BOOK VALUE
At 31 October 2016 18,319
At 31 October 2015 24,426

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.16 31.10.15
value: £    £   
100 Ordinary £1 100 100

Page 3 continued...
High Peak Carpets and Furnishings
Limited (Registered number: 04286463)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 October 2016

4. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director Mr C Martin £1,420, (at 31.10.2015 the company was owed
£3,691 by the director Mr C Martin). This amount is included within Creditors: Amounts falling due within one
year.

5. CONTROL

The company is controlled by the director Mr C Martin.

Page 4