Company Registration No. 06417310 (England and Wales)
HINDOCHA & CO LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
HINDOCHA & CO LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
HINDOCHA & CO LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
365,992
396,492
Tangible assets
2
10,112
11,837
376,104
408,329
Current assets
Debtors
158,954
189,497
Cash at bank and in hand
42,102
11,376
201,056
200,873
Creditors: amounts falling due within one year
3
(219,379)
(180,089)
Net current liabilities/(assets)
(18,323)
20,784
Total assets less current liabilities
357,781
429,113
Creditors: amounts falling due after more than one year
(75,000)
(200,000)
Provisions for liabilities
(2,022)
(2,367)
280,759
226,746
Capital and reserves
Called up share capital
4
500
500
Profit and loss account
280,259
226,246
Shareholders' funds
280,759
226,746
HINDOCHA & CO LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 28 December 2016
Mr Y Hindocha
Director
Company Registration No. 06417310
HINDOCHA & CO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 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 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 fees receivable for services provided net of VAT.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
1.5
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:
Computer equipment
50% p.a. on a straight line basis
Fixtures, fittings & equipment
25% p.a on a reducing balance basis
1.6
Revenue recognition
Fee income represents revenue earned for professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its services. It represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
HINDOCHA & CO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
609,992
46,379
656,371
Additions
-
2,381
2,381
At 31 March 2016
609,992
48,760
658,752
Depreciation
At 1 April 2015
213,500
34,542
248,042
Charge for the year
30,500
4,106
34,606
At 31 March 2016
244,000
38,648
282,648
Net book value
At 31 March 2016
365,992
10,112
376,104
At 31 March 2015
396,492
11,837
408,329
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £44,631 (2015 - £33,976).
The bank overdraft is secured by debenture over the company's assets.
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
500 Ordinary shares of £1 each
500
500