Company Registration No. 03336855 (England and Wales)
HILLTOP GARDEN CENTRE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2015
HILLTOP GARDEN CENTRE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
HILLTOP GARDEN CENTRE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2015
31 July 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
23,317
43,417
Tangible assets
2
552,003
554,615
575,320
598,032
Current assets
Stocks
589,502
537,305
Debtors
62,041
27,809
Cash at bank and in hand
273,221
108,913
924,764
674,027
Creditors: amounts falling due within one year
(611,011)
(382,140)
Net current assets
313,753
291,887
Total assets less current liabilities
889,073
889,919
Creditors: amounts falling due after more than one year
(12,498)
-
Provisions for liabilities
(19,264)
(12,992)
857,311
876,927
Capital and reserves
Called up share capital
3
10,100
10,100
Share premium account
527,943
527,943
Profit and loss account
319,268
338,884
Shareholders' funds
857,311
876,927
HILLTOP GARDEN CENTRE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2015
31 July 2015
- 2 -
For the financial Period ended 31 July 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 19 October 2015
Mr G. S. Ashby
Mr K. J. Ashby
Director
Director
Company Registration No. 03336855
HILLTOP GARDEN CENTRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 JULY 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.
1.4
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1997, is being amortised evenly over its estimated useful life of twenty years.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Land not depreciated/Property 5% per annum of cost
Plant and machinery
20% per annum of net book value
Fixtures, fittings & equipment
20% per annum of net book value
Motor vehicles
20% per annum of net book value
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.7
Pensions
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.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
HILLTOP GARDEN CENTRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 February 2014
268,000
1,187,130
1,455,130
Additions
-
63,685
63,685
At 31 July 2015
268,000
1,250,815
1,518,815
Depreciation
At 1 February 2014
224,583
632,515
857,098
Charge for the period
20,100
66,297
86,397
At 31 July 2015
244,683
698,812
943,495
Net book value
At 31 July 2015
23,317
552,003
575,320
At 31 January 2014
43,417
554,615
598,032
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
10,000 Ordinary of £1 each
10,000
10,000
100 A Ordinary of £1 each
100
100
10,100
10,100
4
Transactions with directors
During the year the company made advances to directors totalling £31,761. Interest was charged at a commercial rate on advances made.