Abbreviated Company Accounts - S.J. HAGUE LIMITED

Abbreviated Company Accounts - S.J. HAGUE LIMITED

Registered Number 04092237


Abbreviated Accounts

31 October 2015

S.J. HAGUE LIMITED Registered Number 04092237

Abbreviated Balance Sheet as at 31 October 2015

Notes 2015 2014
£ £
Called up share capital not paid - -
Fixed assets
Tangible assets 2 81,797 88,917
81,797 88,917
Current assets
Stocks 154,093 93,495
Debtors 248,452 369,543
Cash at bank and in hand 910,571 848,066
1,313,116 1,311,104
Creditors: amounts falling due within one year (176,010) (200,432)
Net current assets (liabilities) 1,137,106 1,110,672
Total assets less current liabilities 1,218,903 1,199,589
Provisions for liabilities (15,500) (16,735)
Total net assets (liabilities) 1,203,403 1,182,854
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,203,401 1,182,852
Shareholders' funds 1,203,403 1,182,854
  • For the year ending 31 October 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 21 July 2016

And signed on their behalf by:
Mrs S D Hague, Director

S.J. HAGUE LIMITED Registered Number 04092237

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Property Improvements - 20% Straight line
Equipment - 20% reducing balance

Other accounting policies

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2Tangible fixed assets
At 1 November 2014 241,195
Additions 4,872
Disposals 0
Revaluations 0
Transfers 0
At 31 October 2015 246,067
At 1 November 2014 152,278
Charge for the year 11,992
On disposals -
At 31 October 2015 164,270
Net book values
At 31 October 2015 81,797
At 31 October 2014 88,917