Abbreviated Company Accounts - HAIR & SON AUCTIONS LIMITED

Abbreviated Company Accounts - HAIR & SON AUCTIONS LIMITED


Registered Number 04688701

HAIR & SON AUCTIONS LIMITED

Abbreviated Accounts

31 March 2014

HAIR & SON AUCTIONS LIMITED Registered Number 04688701

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Current assets
Debtors 50 -
Cash at bank and in hand 104,119 60,559
104,169 60,559
Creditors: amounts falling due within one year (44,857) (21,077)
Net current assets (liabilities) 59,312 39,482
Total assets less current liabilities 59,312 39,482
Total net assets (liabilities) 59,312 39,482
Capital and reserves
Called up share capital 2 10 10
Profit and loss account 59,302 39,472
Shareholders' funds 59,312 39,482
  • For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 12 December 2014

And signed on their behalf by:
T G Hair, Director

HAIR & SON AUCTIONS LIMITED Registered Number 04688701

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Other accounting policies
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.

2Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
10 Ordinary shares of £1 each 10 10