Registered Number 04892026
HARING WOODS STUDIO
Abbreviated Accounts
7 March 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 3 |
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Current assets | |||
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Reserves | |||
Income and expenditure account |
( |
( |
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Members' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Turnover represents the value net of value added tax and discounts of goods provided to customers and work carried out in respect of services provided to customers
Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful life
Office Equipment 25% reducing balance
Furniture & Fixings 25% reducing balance
Other accounting policies
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
BALANCE SHEET DEFICIENCY NOTE
The accounts have been prepared on a going concern basis despite the balance sheet deficiency on the grounds that A. The Directors have undertaken not to seek repayment of their director’s loan accounts for the following year if this was to leave the company unable to meet its other obligations. B. The Directors are confident that future profitability will eliminate the deficiency. C. The company has the full support of the bank
ULTIMATE CONTROLLING PARTY NOTE
During the period the company was under the control of its directors.
2
Company limited by guarantee
£ | |
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Cost | |
At 8 March 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 7 March 2016 |
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Depreciation | |
At 8 March 2015 |
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Charge for the year |
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On disposals |
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At 7 March 2016 |
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Net book values | |
At 7 March 2016 | 4,998 |
At 7 March 2015 | 5,476 |