Registered Number 05650200

HEART CONTRACTS LIMITED

Abbreviated Accounts

31 December 2012

HEART CONTRACTS LIMITED Registered Number 05650200

Abbreviated Balance Sheet as at 31 December 2012

Notes 2012 2011
£ £
Fixed assets
Tangible assets 2 20,354 29,351
20,354 29,351
Current assets
Debtors 229,443 112,003
Cash at bank and in hand 438,133 379,531
667,576 491,534
Creditors: amounts falling due within one year (209,186) (216,782)
Net current assets (liabilities) 458,390 274,752
Total assets less current liabilities 478,744 304,103
Creditors: amounts falling due after more than one year (15,027) (15,027)
Provisions for liabilities (2,068) (2,999)
Total net assets (liabilities) 461,649 286,077
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 461,549 285,977
Shareholders' funds 461,649 286,077
  • For the year ending 31 December 2012 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 6 September 2013

And signed on their behalf by:
M Wass, Director

HEART CONTRACTS LIMITED Registered Number 05650200

Notes to the Abbreviated Accounts for the period ended 31 December 2012

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of services falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures fittings and equipment - 15% Reducing Balance
Motor vehicles - 25% Reducing Balance

Valuation information and policy
Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Other accounting policies
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

2Tangible fixed assets
£
Cost
At 1 January 2012 45,697
Additions -
Disposals (12,819)
Revaluations -
Transfers -
At 31 December 2012 32,878
Depreciation
At 1 January 2012 16,346
Charge for the year 6,526
On disposals (10,348)
At 31 December 2012 12,524
Net book values
At 31 December 2012 20,354
At 31 December 2011 29,351
3Called Up Share Capital
Allotted, called up and fully paid:
2012
£
2011
£
100 Ordinary shares of £1 each 100 100