Hot Flibby Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05462796 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2014

FOR

HOT FLIBBY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs G B Kane

Ms K A Kane

SECRETARY:

Mrs G B Kane

REGISTERED OFFICE:

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

REGISTERED NUMBER:

05462796 (England and Wales)

ACCOUNTANTS:

Cardens Accountants LLP

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

FIXED ASSETS

Tangible assets

2

1,101

1,645

CURRENT ASSETS

Stocks

257,764

257,764

Debtors

250

250

Cash at bank

8,380

4,515

266,394

262,529

CREDITORS

Amounts falling due within one year

3

20,973

25,235

NET CURRENT ASSETS

245,421

237,294

TOTAL ASSETS LESS CURRENT LIABILITIES

246,522

238,939

CREDITORS

Amounts falling due after more than one year

3

(202,300

)

(202,300

)

PROVISIONS FOR LIABILITIES

(220

)

(329

)

NET ASSETS

44,002

36,310

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

43,002

35,310

SHAREHOLDERS' FUNDS

44,002

36,310

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 28 January 2015 and were signed on its behalf by:

Mrs G B Kane - 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).

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% 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 taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected

to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income

and expenditure in taxation computations in periods different from those in which they are included in financial statements.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to

sell the asset. Deferred tax assets and liabilities are not discounted.

Other operating income

Rental income is recognised when the rent becomes due in accordance with the terms of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

and 31 May 2014

2,606

DEPRECIATION

At 1 June 2013

961

Charge for year

544

At 31 May 2014

1,505

NET BOOK VALUE

At 31 May 2014

1,101

At 31 May 2013

1,645

3.

CREDITORS

Creditors include an amount of £ 209,500 (2013 - £ 209,500 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary

£1

1,000

1,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES