Hispec Electrical Products Ltd - Limited company - abbreviated

REGISTERED NUMBER: 04619331 (England and Wales)

HISPEC ELECTRICAL PRODUCTS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTOR:

W L D Loughlin

SECRETARY:

Mrs P Foss

REGISTERED OFFICE:

Oak House

Barrington Road

Altrincham

Cheshire

WA14 1HZ

REGISTERED NUMBER:

04619331 (England and Wales)

ACCOUNTANTS:

Sheppards

Chartered Accountants

Oak House

Barrington Road

Altrincham

Cheshire

WA14 1HZ

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

78,593

70,984

78,593

70,984

CURRENT ASSETS

Stocks

418,710

406,246

Debtors

696,281

504,762

Cash at bank and in hand

139,598

56,104

1,254,589

967,112

CREDITORS

Amounts falling due within one year

373,998

395,241

NET CURRENT ASSETS

880,591

571,871

TOTAL ASSETS LESS CURRENT
LIABILITIES

959,184

642,855

CREDITORS

Amounts falling due after more than one
year

4,948

11,544

NET ASSETS

954,236

631,311

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

954,136

631,211

SHAREHOLDERS' FUNDS

954,236

631,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 16th December 2014 and were signed by:

W L D Loughlin - 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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

and 31st March 2014

30,000

AMORTISATION

At 1st April 2013

and 31st March 2014

30,000

NET BOOK VALUE

At 31st March 2014

-

At 31st March 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

110,797

Additions

24,039

At 31st March 2014

134,836

DEPRECIATION

At 1st April 2013

39,813

Charge for year

16,430

At 31st March 2014

56,243

NET BOOK VALUE

At 31st March 2014

78,593

At 31st March 2013

70,984

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

£1

100

Hispec Electrical Products Ltd - Limited company - abbreviated - 11.6

Hispec Electrical Products Ltd - Limited company - abbreviated - 11.6