Huw Parsons Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04888834 (England and Wales)

HUW PARSONS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

30 SEPTEMBER 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr H O L Parsons

SECRETARY:

Mrs B J Parsons

REGISTERED OFFICE:

Derwent

Feidr Tywod

Penparc

Cardigan

Ceredigion

SA43 1RE

REGISTERED NUMBER:

04888834 (England and Wales)

ACCOUNTANTS:

D M B Davies Limited

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

200,386

197,298

200,386

197,298

CURRENT ASSETS

Stocks

50,095

4,500

Debtors

-

18,096

Cash at bank

115,483

124,250

165,578

146,846

CREDITORS

Amounts falling due within one year

79,965

45,172

NET CURRENT ASSETS

85,613

101,674

TOTAL ASSETS LESS CURRENT LIABILITIES

285,999

298,972

CREDITORS

Amounts falling due after more than one year

9,098

19,967

NET ASSETS

276,901

279,005

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

276,801

278,905

SHAREHOLDERS' FUNDS

276,901

279,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 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 25 November 2014 and were signed by:

Mr H O L Parsons - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% 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.

Rentals paid under operating leases are charged to the profit and loss

account on a straight line basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

30,000

AMORTISATION

At 1 October 2013

and 30 September 2014

30,000

NET BOOK VALUE

At 30 September 2014

-

At 30 September 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

242,487

Additions

17,960

At 30 September 2014

260,447

DEPRECIATION

At 1 October 2013

45,189

Charge for year

14,872

At 30 September 2014

60,061

NET BOOK VALUE

At 30 September 2014

200,386

At 30 September 2013

197,298

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary shares

£1

100

100

5.	ULTIMATE PARENT COMPANY