Abbreviated Company Accounts - HFC (UK) LTD

HANDSFREE GROUP LTD - Company Information

Registered Number 05519584

HFC (UK) LTD

Abbreviated Accounts

31 October 2013

HFC (UK) LTD Registered Number 05519584

Abbreviated Balance Sheet as at 31 October 2013

	Notes	2013	2012
		£	£
Fixed assets
Intangible assets	2	12,000	18,000
Tangible assets	3	61,423	73,853
		73,423	91,853
Current assets
Stocks		249,800	184,760
Debtors		851,870	697,883
Cash at bank and in hand		652	7,395
		1,102,322	890,038
Creditors: amounts falling due within one year		(970,478)	(723,541)
Net current assets (liabilities)		131,844	166,497
Total assets less current liabilities		205,267	258,350
Total net assets (liabilities)		205,267	258,350
Capital and reserves
Called up share capital		100	100
Profit and loss account		205,167	258,250
Shareholders' funds		205,267	258,350

For the year ending 31 October 2013 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 26 June 2014

And signed on their behalf by:
S Cassell, Director
M Johnson, Director

HFC (UK) LTD Registered Number 05519584

Notes to the Abbreviated Accounts for the period ended 31 October 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life.

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

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

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

2Intangible fixed assets

	£
Cost
At 1 November 2012	60,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2013	60,000
Amortisation
At 1 November 2012	42,000
Charge for the year	6,000
On disposals	-
At 31 October 2013	48,000
Net book values
At 31 October 2013	12,000
At 31 October 2012	18,000

3Tangible fixed assets

	£
Cost
At 1 November 2012	122,968
Additions	7,717
Disposals	(14,871)
Revaluations	-
Transfers	-
At 31 October 2013	115,814
Depreciation
At 1 November 2012	49,115
Charge for the year	13,048
On disposals	(7,772)
At 31 October 2013	54,391
Net book values
At 31 October 2013	61,423
At 31 October 2012	73,853