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HUNTINGDON AUDIO SYSTEMS LIMITED




Company Registration Number:
03218803 (England and Wales)



Report of the Directors and Unaudited Financial Statements



Period of accounts


Start date: 01st August 2009

End date: 31st July 2010

SUBMITTED

HUNTINGDON AUDIO SYSTEMS LIMITED

Contents of the Financial Statements
for the Period Ended
31st July 2010

Company Information
Report of the Directors
Profit and Loss Account
Balance sheet
Notes to the Financial Statements

HUNTINGDON AUDIO SYSTEMS LIMITED

Company Information
for the Period Ended
31st July 2010




Director: Jeremy Jacobs
Company secretary: Paul Jacobs
Registered office: 17 Eagle Way
Hartford
Huntingdon
Cambridge
PE29 1ZA
Company Registration Number: 03218803 (England and Wales)

HUNTINGDON AUDIO SYSTEMS LIMITED

Directors’ Report Period Ended 31st July 2010

The directors present their report with the financial statements of the company for the period ended 31st July 2010

Principal activities
The principal activity of the company in the period under review was:
provision of consultancy services to the defence industry. No sales of equipment were made.

Directors
The directors shown below have held office during the whole of the period from
01st August 2009 to 31st July 2010
Jeremy Jacobs

Political and charitable donations
No political or charitable donations were made

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 28 November 2010
And Signed On Behalf Of The Board By:

Name: Jeremy Jacobs
Status: Director

HUNTINGDON AUDIO SYSTEMS LIMITED

Profit and Loss Account

for the Period Ended 31st July 2010

Notes 2010
£
2009
£
Turnover: 2 81,071 74,182
Cost of sales: 0 0
Gross profit or (loss): 81,071 74,182
Distribution costs: 0 0
Administrative expenses: 4, 5 76,735 75,081
Operating profit or (loss): 3 4,336 ( 899 )
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit or (loss) on ordinary activities before taxation: 4,336 ( 899 )
Tax on profit or loss on ordinary activities: 6 0 0
Profit or (loss) for the financial year: 4,336 ( 899 )

The notes form part of these financial statements

HUNTINGDON AUDIO SYSTEMS LIMITED

Statement of total recognised gains and losses
31st July 2010

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report.

HUNTINGDON AUDIO SYSTEMS LIMITED

Balance sheet
As at 31st July 2010

Notes 2010
£
2009
£
Fixed assets
Intangible assets: 0 0
Tangible assets: 8 2,724 3,632
Total fixed assets: 2,724 3,632
Current assets
Stocks: 9 22,697 21,867
Debtors: 10 15,429 12,898
Cash at bank and in hand: 4,366 1,724
Total current assets: 42,492 36,489
Creditors
Creditors: amounts falling due within one year 10,604 9,845
Net current assets (liabilities): 31,888 26,644
Total assets less current liabilities: 34,612 30,276
Creditors: amounts falling due after more than one year: 11 0 0
Provision for liabilities: 0 .0
Total net assets (liabilities): 34,612 30,276

The notes form part of these financial statements

HUNTINGDON AUDIO SYSTEMS LIMITED

Balance sheet
As at 31st July 2010
continued

Notes 2010
£
2009
£
Capital and reserves
Called up share capital: 12 2 2
Revaluation reserve: 0 0
Profit and Loss account: 13 34,610 30,274
Total shareholders funds: 34,612 30,276

For the year ending 31 July 2010 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.

The financial statements were approved by the Board of Directors on 28 November 2010

SIGNED ON BEHALF OF THE BOARD BY:

Name: Jeremy Jacobs
Status: Director

The notes form part of these financial statements

HUNTINGDON AUDIO SYSTEMS LIMITED

Notes to the Financial Statements
for the Period Ended
31st July 2010

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The Financial Statements have been prepared under the historical cost convention and in accordance with the provisions applicable to companies subject to the small companies regime.

    Turnover policy

    Turnover shown in the Accounts represents the value of consultancy services provided and excluding VAT. Since no sales of equipment have yet materialized there are no costs of sales.

    Tangible fixed assets depreciation policy

    Depreciation has been provided in the Accounts on a reducing balance basis at 25% of the written down value brought forward at the beginning of the year.

    Intangible fixed assets amortisation policy

    There are no intangible fixed assets on the company's balance sheet requiring amortization.

    Valuation information and policy

    Stocks of components which have been purchased for production of equipment for sale have been shown in the Accounts at Cost.

  • 2 . Turnover

    Turnover during the year of £81071 represents the value of consultancy services rendered to the defence industry. This is excluding Vat .No sales of High Fidelity equipment have been made during the year.

  • 3 . Operating profit or (loss)

    Profit before tax as stated after charging the following.

    2010 2009
    £ £
    Depreciation - owned assets: 908 1,211
    Depreciation - assets on hire purchase contract: 0 0
    Amortisation of goodwill: 0 0
    Amortisation of other intangible assets: 0 0
    Profit or (loss) on disposal of fixed assets: 0 0
    Operating lease rentals: 0 0
    Bad debts written off: 0 0

    Depreciation has been provided on a reducing balance basis of 25% of the written down value brought forward at the beginning of the year.

  • 4 . Directors' remuneration

    2010 2009
    £ £
    Directors' remuneration: 54,100 48,710
    Value of contributions to directors' pensions: 900 900
    TOTAL: 55,000 49,610

    No additional benefits have been provided to directors.

  • 5. Employees

    2010 2009
    £ £
    Wages and salaries: 54,100 48,710
    Social security costs: 6,272 5,539
    Pension costs: 900 900
    Total staff costs: 61,272 55,149
    Average number of employees including directors during the period: 2 2

    The Finance Director/ Company Secretary, receives no remuneration. Therefore there are employee records for only one employee.

  • 6. Taxation

    The tax charge on the profit on ordinary activities for the period was as follows:
    2010 2009
    £ £
    UK Corporation Tax: 0 0
    Deferred Tax: 0 0
    Tax on profit or (loss) on ordinary activities: 0 0
    Profit or (loss) on ordinary activities before taxation: 4,336 ( 899 )
    Profit or (loss) on ordinary activities before taxation multiplied by the standard rate of Corporation Tax: 1,214 ( 252 )
    Expense not deductable for tax purposes: 0 0
    Accelerated capital allowances: 0 0
    Adjustments in respect of prior periods: ( 4,320 ) ( 4,127 )
    Current tax charge or (credit): ( 3,106 ) ( 4,379 )

    small companies tax rate 2009 = 21% small companies tax rate 2010 = 21% Box AC327 = £911 Box AC231 = £-3240 Box AC233 = £-2329 Box AC233 *21/28 = £2329

  • 7. Dividends

    2010 2009
    £ £
    Dividends paid on ordinary shares: 0 0
    Dividends paid on preference shares: 0 0
    Total dividends paid: 0 0

    No dividends were paid in either year.

  • 8. Tangible assets

    Land and buildings Plant Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    At 01st August 2009: - 12,629 - 20,684 - 33,313
    Additions: - 0 - 0 - 0
    Disposals: - 0 - 0 - 0
    Revaluations: - 0 - 0 - 0
    Transfers: - 0 - 0 - 0
    At 31st July 2010: - 12,629 - 20,684 - 33,313
    Depreciation
    At 01st August 2009: - 10,634 - 19,047 - 29,681
    Charge for year: - 499 - 409 - 908
    On disposals: - 0 - 0 - 0
    Other adjustments - 0 - 0 - 0
    At 31st July 2010: - 11,133 - 19,456 - 30,589
    Net book value
    At 31st July 2010: - 1,496 - 1,228 - 2,724
    At 31st July 2009: - 1,995 - 1,637 - 3,632

  • 9. Stocks

    2010 2009
    £ £
    Stocks of raw materials and consumables: 0 0
    Work in progress: 22,697 21,867
    Long term contract balances: 0 0
    Finished goods and goods for resale: 0 0
    Payments on account: 0 0
    Total: 22,697 21,867

    Boxes AC263 and AC264 refer to stocks of components purchased for the manufacture of Hi-Fi Equipment.

  • 10. Debtors

    2010 2009
    £ £
    Trade debtors: 4,280 3,524
    Other debtors: 11,149 9,374
    Prepayments and accrued income: 0 0
    Total: 15,429 12,898

    Boxes AC134 and AC135 refer to payments receivable for Consultancy work. Boxes AC136 and AC 137 refer to Private Motoring.

  • 11. Creditors: amounts falling due after more than one year

    2010 2009
    £ £
    Bank loans: 0 0
    Amounts due under finance leases and hire purchase contracts: 0 0
    Other creditors: 0 0
    Total: 0 0

    There are no long term creditors.

  • 12. Called up share capital

    Allotted, called up and paid

    Previous period 2009
    Class Number of shares Nominal value per share Total
    Ordinary shares: 2 1 2
    Preference shares: 0 0 0
    Total share capital: 2
    Current period 2010
    Class Number of shares Nominal value per share Total
    Ordinary shares: 2 1 2
    Preference shares: 0 0 0
    Total share capital: 2

    Each of the two directors holds one Ordinary Share.

  • 13. Profit and loss account

    2010 2009
    £ £
    At 01st August 2008: 30,274 31,173
    Profit or (loss) for the period: 4,336 ( 899 )
    Equity dividends paid: 0 0
    Retained profit at 31st July 2010: 34,610 30,274

    No Additional Information.