Hunter Price International Limited - Period Ending 2014-06-30

Registration number: 06932457

Hunter Price International Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

Winburn Glass Norfolk
Chartered Accountants
Convention House
St. Mary's Street
Leeds
LS9 7DP

Hunter Price International Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hunter Price International Limited
for the Year Ended 30 June 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hunter Price International Limited for the year ended 30 June 2014 set out on pages 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Hunter Price International Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hunter Price International Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hunter Price International Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hunter Price International Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hunter Price International Limited. You consider that Hunter Price International 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 accounts of Hunter Price International 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 accounts.

......................................

Winburn Glass Norfolk
Chartered Accountants
Convention House
St. Mary's Street
Leeds
LS9 7DP

30 March 2015

Page 1

Hunter Price International Limited
(Registration number: 06932457)
Abbreviated Balance Sheet at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					55,446			56,917
Current assets
Stocks					859,080			524,068
Debtors					1,582,448			880,166
Cash at bank and in hand					161,254			82,214
					2,602,782			1,486,448
Creditors: Amounts falling due within one year					(1,764,524)			(1,063,393)
Net current assets					838,258			423,055
Total assets less current liabilities					893,704			479,972
Provisions for liabilities					(8,330)			(8,630)
Net assets					885,374			471,342
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					885,372			471,340
Shareholders' funds					885,374			471,342

For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 30 March 2015 and signed on its behalf by:

.........................................
Mr JS Eden
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Hunter Price International Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Additions to short leasehold property	25% Straight Line
Plant and machinery	25% Straight Line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Hunter Price International Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2013		83,923			83,923
Additions		25,411			25,411
At 30 June 2014		109,334			109,334
Depreciation
At 1 July 2013		27,006			27,006
Charge for the year		26,882			26,882
At 30 June 2014		53,888			53,888
Net book value
At 30 June 2014		55,446			55,446
At 30 June 2013		56,917			56,917

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		169,933			248,840

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		2			2			2			2

5

Control

The company is controlled by Frodijay Holdings Limited as a wholly owned subsidiary.

Page 4