Company Registration No. 02507819 (England and Wales)
HIGHFAWN PRODUCTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
HIGHFAWN PRODUCTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
HIGHFAWN PRODUCTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
2
Current assets
Stocks
430
665
Debtors
31,550
39,169
Cash at bank and in hand
16,662
6,516
48,642
46,350
Creditors: amounts falling due within one year
(34,121)
(30,845)
Net current assets
14,521
15,505
Total assets less current liabilities
14,521
15,507
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
14,421
15,407
Shareholders' funds
14,521
15,507
For the financial year ended 31 August 2016 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 year 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 11 November 2016
Mr John Openshaw
Mrs L Openshaw
Director
Director
Company Registration No. 02507819
HIGHFAWN PRODUCTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
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 January 2015).
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 amounts receivable for goods and services net of VAT and trade discounts.
1.4
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 less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015 & at 31 August 2016
57
Depreciation
At 1 September 2015
55
Charge for the year
2
At 31 August 2016
57
Net book value
At 31 August 2016
-
At 31 August 2015
2
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100