HRO'C_LIMITED - Accounts

HRO'C LIMITED - Company Information

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Company Registration No. 01439794 (England and Wales)

HRO'C LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

HRO'C LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

HRO'C LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

305,335

293,059

Investments

1,202

306,537

294,261

Current assets

Stocks

119,347

103,767

Debtors

994,447

712,410

Cash at bank and in hand

171,361

187,036

1,285,155

1,003,213

Creditors: amounts falling due within one year

(1,398,785)

(998,555)

Net current liabilities/(assets)

(113,630)

4,658

Total assets less current liabilities

192,907

298,919

Creditors: amounts falling due after more than one year

(29,697)

(49,408)

Provisions for liabilities

(3,797)

(13,800)

159,413

235,711

Capital and reserves

Called up share capital

21,039

Share premium account

16,068

Other reserves

31,790

Profit and loss account

90,516

166,814

Shareholders' funds

159,413

235,711

HRO'C LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2015

- 2 -

For the financial year ended 30 June 2015 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 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 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 15 March 2016

Mr M Cheatham

Mr C Hazard

Director

Company Registration No. 01439794

HRO'C LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

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 amounts invoiced in respect of services provided of VAT.

1.4

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:

Fixtures and fittings

20% on cost

Motor vehicles

20% on cost

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

Cost comprises direct labour, materials and attributable overheads based upon the normal level of activity. Net realisable value is the price at which work in progress can be sold in the normal course of business after allowing for costs of completion.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable. The assets of the scheme are help separately from those of the company in an independently administered fund.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

HRO'C LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

Accounting policies

(Continued)

- 4 -

1.10

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.11

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 July 2014

738,099

1,202

739,301

Additions

166,974

Disposals

(145,048)

At 30 June 2015

760,025

1,202

761,227

Depreciation

At 1 July 2014

445,040

On disposals

(86,768)

Charge for the year

96,418

At 30 June 2015

454,690

Net book value

At 30 June 2015

305,335

1,202

306,537

At 30 June 2014

293,059

1,202

294,261

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

HRO'C Public Relations Limited

England

Ordinary

100.00

HRO'C Design Limited

England

Ordinary

100.00

HRO'C Interactive Limited

England

Ordinary

100.00

The Media Division Limited

England

Ordinary

100.00

HRO'C LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

Fixed assets

(Continued)

- 5 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

HRO'C Public Relations Limited

Dormant

HRO'C Design Limited

Dormant

100

HRO'C Interactive Limited

Dormant

The Media Division Limited

Dormant

34,396

Debtors

Debtors include an amount of £0 (2014 - £6,600) which is due after more than one year.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £116,673 (2014 - £80,646).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £29,697 (2014 - £49,408).

Share capital

2015

2014

Allotted, called up and fully paid

21,039 Ordinary A Shares of £1 each

21,039