PETER_HUTCHINSON_DESIGNS_ - Accounts

PETER HUTCHINSON DESIGNS LIMITED - Company Information

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Company Registration No. 07264582 (England and Wales)

PETER HUTCHINSON DESIGNS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

PETER HUTCHINSON DESIGNS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

PETER HUTCHINSON DESIGNS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

16,000

17,000

Tangible assets

18,349

16,771

34,349

33,771

Current assets

Stocks

85,637

90,962

Debtors

22,981

16,082

Cash at bank and in hand

88,185

135,973

196,803

243,017

Creditors: amounts falling due within one year

(151,454)

(183,701)

Net current assets

45,349

59,316

Total assets less current liabilities

79,698

93,087

Provisions for liabilities

(2,886)

(2,398)

76,812

90,689

Capital and reserves

Called up share capital

100

Profit and loss account

76,712

90,589

Shareholders' funds

76,812

90,689

PETER HUTCHINSON DESIGNS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 22 October 2014

P M Hutchinson

P A Elliot

Director

Company Registration No. 07264582

PETER HUTCHINSON DESIGNS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts.

Revenue is recognised at the point of sale.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

1.5

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

1.6

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% - Reducing balance

Fixtures, fittings & equipment

25% - Reducing balance

1.7

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.8

Stock

Stock is valued at the lower of cost and net realisable value.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

PETER HUTCHINSON DESIGNS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

20,000

28,585

48,585

Additions

5,997

At 31 March 2014

20,000

34,582

54,582

Depreciation

At 1 April 2013

3,000

11,814

14,814

Charge for the year

1,000

4,419

5,419

At 31 March 2014

4,000

16,233

20,233

Net book value

At 31 March 2014

16,000

18,349

34,349

At 31 March 2013

17,000

16,771

33,771

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100