Price Hunter International Limited - Period Ending 2015-06-30

Registration number: 08097191

Price Hunter International Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

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

Price Hunter 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
Price Hunter International Limited
for the Year Ended 30 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Price Hunter International Limited for the year ended 30 June 2015 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 Price Hunter 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 Price Hunter 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 Price Hunter International Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Price Hunter 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 Price Hunter International Limited. You consider that Price Hunter 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 Price Hunter 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

23 March 2016

Page 1

Price Hunter International Limited
(Registration number: 08097191)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					5,722			6,414
Current assets
Stocks					149,068			64,801
Debtors					359,457			164,993
Cash at bank and in hand					192,575			206,018
					701,100			435,812
Creditors: Amounts falling due within one year					(206,885)			(165,289)
Net current assets					494,215			270,523
Net assets					499,937			276,937
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					499,935			276,935
Shareholders' funds					499,937			276,937

For the year ending 30 June 2015 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 23 March 2016 and signed on its behalf by:

.........................................
Mr Joshua Simon Eden
Director

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

Price Hunter International Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... 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
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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction or, where the transaction is covered by a forward contract, the exchange rate specified in the contract. 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

Price Hunter International Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		7,746			7,746
Additions		1,482			1,482
At 30 June 2015		9,228			9,228
Depreciation
At 1 July 2014		1,332			1,332
Charge for the year		2,174			2,174
At 30 June 2015		3,506			3,506
Net book value
At 30 June 2015		5,722			5,722
At 30 June 2014		6,414			6,414

3

Creditors

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

		2015 £			2014 £
Amounts falling due within one year		59,263			-

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 4