Hills Retail Stores Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02904363 (England and Wales)

HILLS RETAIL STORES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

Chartered Accountants' Report

5

DIRECTORS:

Mrs E I Hall

Mr J E Hall

Mr R D Hall

SECRETARY:

Mr G P Allmand

REGISTERED OFFICE:

5 - 6 Bridge Street

Spalding

Lincolnshire

PE11 1XA

REGISTERED NUMBER:

02904363 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

FIXED ASSETS

Tangible assets

2

691,163

726,864

CURRENT ASSETS

Stocks

235,790

198,923

Debtors

57,864

109,784

Cash at bank and in hand

217,781

127,980

511,435

436,687

CREDITORS

Amounts falling due within one year

3

315,612

320,989

NET CURRENT ASSETS

195,823

115,698

TOTAL ASSETS LESS CURRENT LIABILITIES

886,986

842,562

PROVISIONS FOR LIABILITIES

3,794

5,439

NET ASSETS

883,192

837,123

CAPITAL AND RESERVES

Called up share capital

4

5,100

5,100

Revaluation reserve arising on de-merger

196,543

196,543

Profit and loss account

681,549

635,480

SHAREHOLDERS' FUNDS

883,192

837,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 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 Board of Directors on 19 January 2015 and were signed on its behalf by:

Mrs E I Hall - 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 amounts charged to customers for goods and services provided during the year, excluding value added

tax and trade discounts. Sales are recognised upon delivery to the customer, or upon collection by the customer.

Tangible fixed assets

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

Land and buildings

-

2.5% on cost

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 20% on cost

Stocks

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

items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

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.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

924,772

Additions

4,526

Disposals

(3,300

)

At 30 April 2014

925,998

DEPRECIATION

At 1 May 2013

197,908

Charge for year

40,227

Eliminated on disposal

(3,300

)

At 30 April 2014

234,835

NET BOOK VALUE

At 30 April 2014

691,163

At 30 April 2013

726,864

3.

CREDITORS

Creditors include an amount of £ 0 (2013 - £ 7,201 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

5,100

Ordinary

£1

5,100

5,100

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,400 were paid to the directors .

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial

statements, from which the unaudited abbreviated accounts (set out on pages two to four) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Hills Retail Stores Limited for the year ended 30 April 2014 which comprise the Profit and Loss Account, the Balance

Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical

and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Hills Retail Stores Limited, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hills Retail Stores

Limited and state those matters that we have agreed to state to the Board of Directors of Hills Retail Stores Limited, as a body, in

this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this

report.

It is your duty to ensure that Hills Retail Stores Limited has kept adequate accounting records and to prepare statutory financial

statements that give a true and fair view of the assets, liabilities, financial position and profit of Hills Retail Stores Limited. You

consider that Hills Retail Stores Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hills Retail Stores Limited. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have

given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

19 January 2015