Horti Gifts Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08060594 (England and Wales)

HORTI GIFTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

B P Barber

A P W Barber

REGISTERED OFFICE:

Unit 4

Quarry Farm

Bodiam

East Sussex

TN32 5RA

REGISTERED NUMBER:

08060594 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

20 Eversley Road

Bexhill-on-Sea

East Sussex

TN40 1HE

FIXED ASSETS

Tangible assets

4

6,132

8,274

CURRENT ASSETS

Stocks

3,672

4,267

Debtors

5

16,072

19,539

Cash at bank and in hand

55,967

47,487

75,711

71,293

CREDITORS

Amounts falling due within one year

6

34,510

45,724

NET CURRENT ASSETS

41,201

25,569

TOTAL ASSETS LESS CURRENT LIABILITIES

47,333

33,843

PROVISIONS FOR LIABILITIES

1,772

1,407

NET ASSETS

45,561

32,436

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

45,461

32,336

SHAREHOLDERS' FUNDS

45,561

32,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21st June 2018 and were signed on its behalf by:

A P W Barber - Director

1.	STATUTORY INFORMATION

Horti Gifts Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have

been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred tax

is measured using tax rates and laws that have been enacted or substantively enacted by the

year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

Equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1st October 2016

1,557

2,917

10,625

15,099

Additions

-

-

680

680

At 30th September 2017

1,557

2,917

11,305

15,779

DEPRECIATION

At 1st October 2016

822

1,687

4,316

6,825

Charge for year

184

308

2,330

2,822

At 30th September 2017

1,006

1,995

6,646

9,647

NET BOOK VALUE

At 30th September 2017

551

922

4,659

6,132

At 30th September 2016

735

1,230

6,309

8,274

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

15,336

18,806

Other debtors

676

676

Prepayments

60

57

16,072

19,539

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

8,410

20,771

Tax

8,410

10,526

Social security and other taxes

42

221

VAT

9,477

8,606

Other creditors

849

859

Directors' current accounts

7,322

4,741

34,510

45,724

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

7,380

1,845

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.	FIRST YEAR ADOPTION

In preparing the accounts, the company has considered whether in applying the accounting

policies required by FRS102 the reinstatement of comparatives was required. No prior

adjustments were necessary.