Company Registration No. 07804963 (England and Wales)
ABOUT HR LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
Evolution Business and Tax Advisors LLP
10 Evolution
Wynyard Park
Wynyard
TS22 5TB
ABOUT HR LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ABOUT HR LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
31 March 2014
- 1 -
2014
2013
Notes
£
£
£
£
Current assets
Work in progress
2,469
16,419
Debtors
24,849
18,793
Cash at bank and in hand
5,536
23,125
32,854
58,337
Creditors: amounts falling due within one year
(81,220)
(72,042)
Total assets less current liabilities
(48,366)
(13,705)
Capital and reserves
Called up share capital
2
1
1
Profit and loss account
(48,367)
(13,706)
Shareholders' funds
(48,366)
(13,705)
For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. 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 of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board for issue on 22 September 2014
Mr C D Todd
Director
Company Registration No. 07804963
ABOUT HR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 2 -
1
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 the fair value of the consideration receivable in respect of professional services provided during the period, excluding VAT. Where the outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised in the profit and loss account by reference to the stage of completion at the end of the accounting period, provided that a right to consideration has been obtained through performance. Consideration accrues as contract activity progresses by reference to the value of work performed. Where the outcome of a transaction cannot be estimated reliably, revenue is recognised only to the extent that the costs of providing the service are recoverable. No revenue is recognised where there are significant uncertainties regarding recovery of the consideration due or where the right to receive payment is contingent on events outside the control of the company.
Where the outcome of a transaction cannot be estimated reliably, revenue is recognised only to the extent that the costs of providing the service are recoverable. No revenue is recognised where there are significant uncertainties regarding recovery of the consideration due or where the right to receive payment is contingent on events outside the control of the company.
1.4
Work in progress
Work in progress is valued at the lower of cost and net realisable value and includes a relevant proportion for overheads.
2
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 ordinary share of £1 each
1
1
3
Control
As in the previous year, the company is wholly owned by Archers Law LLP, the ultimate controlling party, an LLP incorporated in England.
