false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2016-06-01
Sage Accounts Production Advanced 2017 Update 3 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
07649189
2016-06-01
2017-05-31
07649189
2017-05-31
07649189
2016-05-31
07649189
2015-06-01
2016-05-31
07649189
2016-05-31
07649189
2015-05-31
07649189
core:NetGoodwill
2016-06-01
2017-05-31
07649189
core:FurnitureFittings
2016-06-01
2017-05-31
07649189
core:MotorVehicles
2016-06-01
2017-05-31
07649189
bus:LeadAgentIfApplicable
2016-06-01
2017-05-31
07649189
bus:Director1
2016-06-01
2017-05-31
07649189
bus:Director2
2016-06-01
2017-05-31
07649189
core:WithinOneYear
2017-05-31
07649189
core:WithinOneYear
2016-05-31
07649189
core:ShareCapital
2017-05-31
07649189
core:ShareCapital
2016-05-31
07649189
core:RetainedEarningsAccumulatedLosses
2017-05-31
07649189
core:RetainedEarningsAccumulatedLosses
2016-05-31
07649189
bus:Director1
2016-05-31
07649189
bus:Director1
2017-05-31
07649189
bus:Director2
2016-05-31
07649189
bus:Director2
2017-05-31
07649189
bus:Director1
2015-05-31
07649189
bus:Director1
2016-05-31
07649189
bus:Director2
2015-05-31
07649189
bus:Director2
2016-05-31
07649189
bus:Director1
2015-06-01
2016-05-31
07649189
bus:Director2
2015-06-01
2016-05-31
07649189
bus:FRS102
2016-06-01
2017-05-31
07649189
bus:AuditExemptWithAccountantsReport
2016-06-01
2017-05-31
07649189
bus:AbridgedAccounts
2016-06-01
2017-05-31
07649189
bus:SmallCompaniesRegimeForAccounts
2016-06-01
2017-05-31
07649189
bus:PrivateLimitedCompanyLtd
2016-06-01
2017-05-31
07649189
core:OfficeEquipment
2016-06-01
2017-05-31
Statement of Consent to Prepare Abridged Financial Statements
|
|
All of the members of H & B Designers Limited have consented to the preparation of the abridged profit and loss account and the balance sheet for the year ending 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
07649189
Filleted Unaudited Abridged Financial Statements
|
|
Abridged Financial Statements
|
|
Year ended 31 May 2017
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements
|
1
|
|
|
Notes to the abridged financial statements
|
4 to 8
|
|
|
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
H & B Designers Limited
|
|
Year ended 31 May 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of H & B Designers Limited for the year ended 31 May 2017, which comprise the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of H & B Designers Limited, as a body, in accordance with the terms of our engagement letter dated 31 May 2016. Our work has been undertaken solely to prepare for your approval the abridged financial statements of H & B Designers Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H & B Designers Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that H & B Designers Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of H & B Designers Limited. You consider that H & B Designers Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of H & B Designers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
MILLER DAVIES LLP
Chartered accountant
A3 Broomsleigh Business Park
Worsley Bridge Road
London
SE26 5BN
28 February 2018
31 May 2017
Fixed assets
Intangible assets
|
5
|
|
52,000
|
78,000
|
Tangible assets
|
6
|
|
8,919
|
15,056
|
|
|
--------
|
--------
|
|
|
60,919
|
93,056
|
|
|
|
|
|
Current assets
Stocks
|
2,000
|
|
2,000
|
Debtors
|
73,303
|
|
84,971
|
Cash at bank and in hand
|
–
|
|
3,270
|
|
--------
|
|
--------
|
|
75,303
|
|
90,241
|
|
|
|
|
Creditors: amounts falling due within one year
|
136,109
|
|
126,320
|
|
---------
|
|
---------
|
Net current liabilities
|
|
60,806
|
36,079
|
|
|
--------
|
--------
|
Total assets less current liabilities
|
|
113
|
56,977
|
|
|
----
|
--------
|
Net assets
|
|
113
|
56,977
|
|
|
----
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
13
|
56,877
|
|
|
----
|
--------
|
Shareholders funds
|
|
113
|
56,977
|
|
|
----
|
--------
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged profit and loss account has not been delivered.
For the year ending 31 May 2017 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 abridged 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 abridged financial statements
.
Balance Sheet (continued)
|
|
31 May 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
28 February 2018
, and are signed on behalf of the board by:
Mr R J Butler
|
Mr R J Haime
|
Director
|
Director
|
|
|
Company registration number:
07649189
Notes to the Abridged Financial Statements
|
|
Year ended 31 May 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill
|
-
|
20% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Furniture and fittings
|
-
|
20% straight line
|
|
Motor vehicles
|
-
|
25% straight line
|
|
Office equipment
|
-
|
25% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2016:
3
).
5.
Intangible assets
|
£
|
Cost
|
|
At 1 June 2016 and 31 May 2017
|
130,000
|
|
---------
|
Amortisation
|
|
At 1 June 2016
|
52,000
|
Charge for the year
|
26,000
|
|
---------
|
At 31 May 2017
|
78,000
|
|
---------
|
Carrying amount
|
|
At 31 May 2017
|
52,000
|
|
---------
|
At 31 May 2016
|
78,000
|
|
---------
|
|
|
6.
Tangible assets
|
£
|
Cost
|
|
At 1 June 2016 and 31 May 2017
|
26,139
|
|
--------
|
Depreciation
|
|
At 1 June 2016
|
11,083
|
Charge for the year
|
6,137
|
|
--------
|
At 31 May 2017
|
17,220
|
|
--------
|
Carrying amount
|
|
At 31 May 2017
|
8,919
|
|
--------
|
At 31 May 2016
|
15,056
|
|
--------
|
|
|
7.
Financial instruments at fair value
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
|
136,222
|
183,297
|
|
---------
|
---------
|
|
|
|
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
|
136,109
|
126,320
|
|
---------
|
---------
|
|
|
|
8.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
2017
|
|
|
Balance brought forward
|
Advances/ (credits) to the directors
|
Balance outstanding
|
|
|
£
|
£
|
£
|
|
Mr R J Butler
|
(
209)
|
3,087
|
2,878
|
|
Mr R J Haime
|
(
210)
|
3,087
|
2,877
|
|
|
----
|
-------
|
-------
|
|
|
(
419)
|
6,174
|
5,755
|
|
|
----
|
-------
|
-------
|
|
|
|
|
|
|
2016
|
|
|
Balance brought forward
|
Advances/ (credits) to the directors
|
Balance outstanding
|
|
|
£
|
£
|
£
|
|
Mr R J Butler
|
(
40,630)
|
40,421
|
(
209)
|
|
Mr R J Haime
|
(
40,631)
|
40,421
|
(
210)
|
|
|
--------
|
--------
|
----
|
|
|
(
81,261)
|
80,842
|
(
419)
|
|
|
--------
|
--------
|
----
|
|
|
|
|
|