Company Registration No. 06417310 (England and Wales)
HINDOCHA & CO LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
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 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
396,492
426,992
Tangible assets
2
11,837
17,372
408,329
444,364
Current assets
Debtors
189,497
144,322
Cash at bank and in hand
11,376
18,992
200,873
163,314
Creditors: amounts falling due within one year
3
(180,089)
(188,496)
Net current assets/(liabilities)
20,784
(25,182)
Total assets less current liabilities
429,113
419,182
Creditors: amounts falling due after more than one year
(200,000)
(250,000)
Provisions for liabilities
(2,367)
(3,474)
226,746
165,708
Capital and reserves
Called up share capital
4
500
500
Profit and loss account
226,246
165,208
Shareholders' funds
226,746
165,708
HINDOCHA & CO LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 2 -
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has 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 24 December 2015
Mr Y Hindocha
Director
Company Registration No. 06417310
HINDOCHA & CO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
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 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 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
609,992
44,907
654,899
Additions
1,472
1,472
At 31 March 2015
609,992
46,379
656,371
Depreciation
At 1 April 2014
183,000
27,533
210,533
Charge for the year
30,500
7,009
37,509
At 31 March 2015
213,500
34,542
248,042
Net book value
At 31 March 2015
396,492
11,837
408,329
At 31 March 2014
426,992
17,372
444,364
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £33,976 (2014 - £37,851).
The bank overdraft is secured by debenture over the company's assets.
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
500 Ordinary shares of £1 each
500
500