Registered Number 09850183
HOOKLANDS LIMITED
Abbreviated Accounts
31 March 2017
Notes | 2017 | ||
---|---|---|---|
£ | |||
Fixed assets | |||
Intangible assets | 2 |
|
|
Tangible assets | 3 |
|
|
|
|||
Current assets | |||
Stocks |
|
||
Debtors |
|
||
Cash at bank and in hand |
|
||
|
|||
Creditors: amounts falling due within one year | 4 |
( |
|
Net current assets (liabilities) |
( |
||
Total assets less current liabilities |
|
||
Creditors: amounts falling due after more than one year | 4 |
( |
|
Total net assets (liabilities) |
( |
||
Capital and reserves | |||
Called up share capital | 5 |
|
|
Profit and loss account |
( |
||
Shareholders' funds |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Freehold property is not depreciated on the grounds that the depreciation charge and accumulated depreciation would be immaterial. This is due to the company having a policy and practice of regular maintenance and repair resulting in a high residual value. Maintenance and repair charges are recognised in the profit and loss account. In line with FRS15, the carrying values of freehold property are reviewed for impairment at the end of each period to ensure there are no events or changes in circumstances which would indicate the carrying value may not be recoverable.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment - Reducing Balance at 25%
Computer equipment - Straight Line at 33%
Intangible assets amortisation policy
Goodwill - Straight line over ten years
Other accounting policies
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Related party transactions
The company was under the control of Mr Arjuna throughout the current and previous year. Mr Arjuna is the managing director and majority shareholder.
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
£ | |
---|---|
Cost | |
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 March 2017 |
|
Amortisation | |
Charge for the year |
|
On disposals |
|
At 31 March 2017 |
|
Net book values | |
At 31 March 2017 | 337,496 |
£ | |
---|---|
Cost | |
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 March 2017 |
|
Depreciation | |
Charge for the year |
|
On disposals |
|
At 31 March 2017 |
|
Net book values | |
At 31 March 2017 | 710,562 |
2017
£ |
|
---|---|
Secured Debts |
|
Instalment debts due after 5 years |
|