REGISTERED NUMBER: 05372926

Calves Hill Limited

Abbreviated Accounts

for the Year Ended 30th June 2013

Page

Abbreviated Balance Sheet

1

to

2

Notes to the Abbreviated Accounts

3

to

4

FIXED ASSETS

Tangible assets

2

32,880

45,245

CURRENT ASSETS

Stocks

50,761

58,426

Debtors

229,960

206,133

Cash at bank

-

1

280,721

264,560

CREDITORS

Amounts falling due within one year

3

203,202

250,577

NET CURRENT ASSETS

77,519

13,983

TOTAL ASSETS LESS CURRENT LIABILITIES

110,399

59,228

CREDITORS

Amounts falling due after more than one year

3

110,225

58,977

NET ASSETS

174

251

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

172

249

SHAREHOLDERS' FUNDS

174

251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31st March 2014 and were signed on its behalf by:

S M Jones - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced value of work done and goods sold, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

Between 2 and 5 years straight line

Office equipment

-

3 years straight line

Motor vehicles

-

Between 3 and 6 years straight line

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2012

179,479

Additions

1,659

At 30th June 2013

181,138

DEPRECIATION

At 1st July 2012

134,234

Charge for year

14,024

At 30th June 2013

148,258

NET BOOK VALUE

At 30th June 2013

32,880

At 30th June 2012

45,245

3.

CREDITORS

Creditors include an amount of £ 118,373 (2012 - £ 77,028 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

2

Ordinary

£1

2

2

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th June 2013 and

30th June 2012:

2013

2012

£

£

I A Jones and S M Jones

Balance outstanding at start of year

117,234

81,829

Amounts advanced

44,478

50,405

Amounts repaid

(7,000

)

(15,000

)

Balance outstanding at end of year

154,712

117,234

Loan interest of £5,332 is included within the figure for loans advanced and is calculated using HM Revenue

& Customs official rates. The maximum amount overdrawn during the year was £154,712 (2012: £117,234).