Hackthorne Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05374721 (England and Wales)

Hackthorne Limited

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

4,129

7,941

Tangible assets

3

180,684

180,913

184,813

188,854

CURRENT ASSETS

Stocks

3,500

3,500

Debtors

2,551

2,551

Cash at bank and in hand

11,152

4,106

17,203

10,157

CREDITORS

Amounts falling due within one year

83,646

84,768

NET CURRENT LIABILITIES

(66,443

)

(74,611

)

TOTAL ASSETS LESS CURRENT LIABILITIES

118,370

114,243

CREDITORS

Amounts falling due after more than one year

4

74,171

86,233

NET ASSETS

44,199

28,010

CAPITAL AND RESERVES

Called up share capital

5

100

100

Revaluation reserve

26,705

26,705

Profit and loss account

17,394

1,205

SHAREHOLDERS' FUNDS

44,199

28,010

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 18 November 2014 and were signed on its behalf by:

Mr A Gordon-Freeman - Director

Mrs D M Gordon-Freeman - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant & equipment

-

25% on reducing balance

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 timing differences that have originated but not reversed at the balance

sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or

a right to pay less or to receive more, tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

38,117

AMORTISATION

At 1 April 2013

30,176

Amortisation for year

3,812

At 31 March 2014

33,988

NET BOOK VALUE

At 31 March 2014

4,129

At 31 March 2013

7,941

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2013

and 31 March 2014

188,568

DEPRECIATION

At 1 April 2013

7,655

Charge for year

229

At 31 March 2014

7,884

NET BOOK VALUE

At 31 March 2014

180,684

At 31 March 2013

180,913

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

31,430

40,641

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

1.00

100

100