HAMLET VIDEO INTERNATIONAL LIMITED
REGISTERED NUMBER:
01985480
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDITORS:
amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
|
|
PROVISIONS FOR LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act")
and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2016 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
|
HAMLET VIDEO INTERNATIONAL LIMITED
ABBREVIATED BALANCE SHEET
(continued)
AS AT
31 MARCH 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on
19 December 2016
.
................................................
S. G. Nunney
|
|
The notes on pages 3 to 4 form part of these financial statements.
Page 2
|
HAMLET VIDEO INTERNATIONAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
1.
ACCOUNTING POLICIES
|
|
Basis of preparation of financial statements
|
|
|
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015)
.
|
|
|
|
|
|
The directors are not aware of any material uncertainties related to events or conditions that may cast
significant doubt about the ability of the company to continue as a going concern and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Although the company is reporting losses for both current and the preceding financial year, the directors are confident that it will turn into profitability and will be able to meet its liabilities as they fall due. As a result, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
|
|
|
|
|
|
The financial statements do not include a Cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
|
|
|
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
|
|
|
Tangible fixed assets and depreciation
|
|
|
|
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
|
|
|
|
|
|
|
|
|
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
Page 3
|
HAMLET VIDEO INTERNATIONAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
2.
TANGIBLE FIXED ASSETS
3.
SHARE CAPITAL
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
100
Ordinary Shares
shares of £
1
each
|
|
|
4.
DIRECTOR'S BENEFITS: ADVANCES, CREDIT AND GUARANTEES
The company granted a drawdown facility to the directors of up to £100,000 at any one point in time. Interest is charged on overdrawn account at the prevailing rates as published by HM Revenue & Customs in respects of beneficial loans and is repayable on demand. During the year, the directors did not take advantage of the facility. The director provided interest free loans to the company with no fixed date for repayment. The amount outstanding as at the balance sheet date is £263 (£560 during 2015). During the year the company paid £27,000 (£30,000 during 2015) of dividends to the director. The director concerned is S G Nunney.
Page 4
|