TrivettHicks Limited - Period Ending 2014-05-31

Registration number: 04380917

TrivettHicks Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2014
 

Young & Co
Chartered Accountants
Bewell House
Bewell Street
Hereford
Herefordshire
HR4 0BA

TrivettHicks Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
TrivettHicks Limited
for the Year Ended 31 May 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TrivettHicks Limited for the year ended 31 May 2014 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 TrivettHicks 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 TrivettHicks 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 TrivettHicks Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that TrivettHicks 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 TrivettHicks Limited. You consider that TrivettHicks 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 TrivettHicks 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.

......................................

Young & Co
Chartered Accountants
Bewell House
Bewell Street
Hereford
Herefordshire
HR4 0BA

27 October 2014

Page 1

TrivettHicks Limited
(Registration number: 04380917)
Abbreviated Balance Sheet at 31 May 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					11,482			13,404
Current assets
Debtors					41,881			41,125
Cash at bank and in hand					4,764			1,630
					46,645			42,755
Creditors: Amounts falling due within one year					(54,800)			(52,761)
Net current liabilities					(8,155)			(10,006)
Total assets less current liabilities					3,327			3,398
Provisions for liabilities					(1,699)			(1,989)
Net assets					1,628			1,409
Capital and reserves
Called up share capital		4			114			114
Share premium account					446			446
Profit and loss account					1,068			849
Shareholders' funds					1,628			1,409

For the year ending 31 May 2014 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 27 October 2014 and signed on its behalf by:

.........................................
Mr J L Hicks
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

TrivettHicks Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... 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 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
Leasehold property improvements	5% of cost per annum
Fixtures and fittings	15% of written down value per annum

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

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

TrivettHicks Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2013		65,468			65,468
At 31 May 2014		65,468			65,468
Depreciation
At 1 June 2013		52,064			52,064
Charge for the year		1,922			1,922
At 31 May 2014		53,986			53,986
Net book value
At 31 May 2014		11,482			11,482
At 31 May 2013		13,404			13,404

3

Creditors

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

		2014 £			2013 £
Amounts falling due within one year		25,754			25,072

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary A of £0.10 each		500			50			500			50
Ordinary B of £0.10 each		500			50			500			50
Ordinary C of £0.10 each		68			7			68			7
Ordinary D of £0.10 each		68			7			68			7
		1,136			114			1,136			114

Page 4

TrivettHicks Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

5	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr J A Trivett
Directors loan (interest charged at 4%)	11,193	(230)	11,423	-
Mr J L Hicks
Directors loan (interest charged at 4%)	10,104	(277)	10,381	-

Page 5