HARVEY_&_HUGO_LIMITED - Accounts

HARVEY & HUGO LIMITED - Company Information

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Company Registration No. 07004092 (England and Wales)

HARVEY & HUGO LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

Evolution

Wynyard Park House

Wynyard Avenue

Wynyard

TS22 5TB

HARVEY & HUGO LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HARVEY & HUGO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

5,272

7,964

Current assets

Debtors

21,728

16,559

Cash at bank and in hand

9,350

11,900

31,078

28,459

Creditors: amounts falling due within one year

(28,958)

(26,164)

Net current assets

2,120

2,295

Total assets less current liabilities

7,392

10,259

Provisions for liabilities

(1,054)

(1,593)

6,338

8,666

Capital and reserves

Called up share capital

Profit and loss account

6,337

8,665

Shareholders' funds

6,338

8,666

For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 4 October 2016

Miss C Nichols

Director

Company Registration No. 07004092

HARVEY & HUGO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 2 -

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 January 2015).

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 receivable for goods and services net of VAT and trade discounts.

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:

Website

33.33% straight line

Computer equipment

33.33% reducing balance

Fixtures, fittings and equipment

20% reducing balance

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 September 2015 & at 31 August 2016

18,600

Depreciation

At 1 September 2015

10,636

Charge for the year

2,692

At 31 August 2016

13,328

Net book value

At 31 August 2016

5,272

At 31 August 2015

7,964

HARVEY & HUGO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

1 ordinary share of £1 each

Related party relationships and transactions

At 1 September 2015 the company owed Miss C Nichols, the director, £16,398 by way of an interest free loan. At 31 August 2016 the amount owed by the company had increased to £18,965.