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05398816
HALLMARK FUNCTION MANAGEMENT LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
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HALLMARK FUNCTION MANAGEMENT LIMITED
REGISTERED NUMBER: 05398816
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ABBREVIATED BALANCE SHEET
AS AT 30 NOVEMBER 2016
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 November 2016 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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HALLMARK FUNCTION MANAGEMENT LIMITED
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ABBREVIATED BALANCE SHEET (continued)
AS AT 30 NOVEMBER 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
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Mr J J Mobbs
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Mr J P Mobbs
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
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HALLMARK FUNCTION MANAGEMENT LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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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 January 2015).
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
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The company's financial security is secured by the directors by way of a loan; therefore they continue to adopt the going concern basis of accounting when preparing these financial statements.
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2.TANGIBLE FIXED ASSETS
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At 1 December 2015 and 30 November 2016
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Page 3
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HALLMARK FUNCTION MANAGEMENT LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
3.INVESTMENT PROPERTY
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At 1 December 2015 and 30 November 2016
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The 2016 valuations were made by the directors, on an open market value for existing use basis.
4.SHARE CAPITAL
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Allotted, called up and fully paid
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100 Ordinary A shares of £1 each
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100 Ordinary B shares of £1 each
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5.DIRECTORS' BENEFITS: ADVANCES, CREDIT AND GUARANTEES
The company owes Mr J Mobbs, a director of the company, £417,253 (2015: £413,251) secured by way of a first charge over the freehold property and assets.
The loan accrues interest at a rate of 3.3% above base rate. The director has waived his entitlement to interest for the year ended 30 November 2016. Capital repayments are repayable in 120 equal monthly instalments.
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