H_O_CHAMPNEYS_LIMITED - Accounts

H. O. CHAMPNEYS LIMITED - Company Information

Print Friendly Version

Company Registration No. 00545994 (England and Wales)

H O CHAMPNEYS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

H O CHAMPNEYS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

H O CHAMPNEYS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

483,808

523,040

Investments

483,828

523,060

Current assets

Stocks

82,371

73,674

Debtors

48,690

27,580

Cash at bank and in hand

87,922

68,978

218,983

170,232

Creditors: amounts falling due within one year

(488,803)

(478,196)

Net current liabilities

(269,820)

(307,964)

Total assets less current liabilities

214,008

215,096

Provisions for liabilities

(49,294)

(48,981)

164,714

166,115

Capital and reserves

Called up share capital

10,000

Profit and loss account

154,714

156,115

Shareholders' funds

164,714

166,115

H O CHAMPNEYS 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 for issue on 10 December 2014

Mrs M H Champneys

Director

Company Registration No. 00545994

H O CHAMPNEYS 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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 and services net of VAT and trade discounts.

1.4

Milk Quota

The company amortises the cost of the milk quota in equal instalments over five years.

1.5

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:

Land and buildings Leasehold

5% per annum on cost

Plant and machinery

20% per annum on the reducing balance

Tractors

25% per annum on the reducing balance

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock

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

1.8

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes, to the extent that such differences are considered to be material. The deferred tax balance has not been discounted.

1.9

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

H O CHAMPNEYS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost

At 1 April 2013

123,907

883,862

1,007,789

Additions

31,764

Disposals

(6,700)

At 31 March 2014

123,907

908,926

1,032,853

Depreciation

At 1 April 2013

123,907

360,822

484,729

On disposals

(6,530)

Charge for the year

70,826

At 31 March 2014

123,907

425,118

549,025

Net book value

At 31 March 2014

483,808

483,828

At 31 March 2013

523,040

523,060

Share capital

2014

2013

Allotted, called up and fully paid

10,000 Ordinary shares of £1 each

10,000