PDQ Spares Limited,Ltd - Accounts

PDQ Spares Limited,Ltd - Accounts

PDQ SPARES LIMITED - Company Information

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2013-05-01 true false Private Limited Company 03548558 2014-04-30 03548558 2013-05-01 2014-04-30 03548558 2013-04-30 03548558 2012-05-01 2013-04-30 03548558 uk-bus:Director1 2013-05-01 2014-04-30 03548558 uk-gaap:Buildings 2013-05-01 2014-04-30 03548558 uk-gaap:PlantMachinery 2013-05-01 2014-04-30 03548558 uk-gaap:CommercialMotorVehicles 2013-05-01 2014-04-30 03548558 uk-gaap:FixturesFittings 2013-05-01 2014-04-30 03548558 uk-gaap:AfterOneYear 2013-04-30 iso4217:GBP
PDQ Spares Limited
For the year ended 30 April 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03548558
2
Contents Page
PDQ Spares Limited
For the year ended 30 April 2014
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
PDQ Spares Limited
Accountants' Report
For the year ended 30 April 2014
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
ended 30 April 2014 and you consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you
to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
Graeme Hinchliffe Associates Ltd
6-8 Manvers Road
Swallownest
Sheffield
S26 4UD
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4
Abbreviated Balance Sheet
PDQ Spares Limited
As at 30 April 2014
03548558
Registered Number :
£
£
2014
Notes
2013
Fixed assets
Tangible assets
2
24,331
26,199
24,331
26,199
Current assets
Stocks
175,180
171,320
Debtors
91,616
111,029
Cash at bank and in hand
7,546
1,699
289,895
268,495
Creditors: amounts falling due within one year
(207,780)
(210,683)
60,715
79,212
Net current assets
Total assets less current liabilities
103,543
86,914
Creditors: amounts falling due after more than one year
3
-
(42,178)
(1,421)
(1,740)
Provisions for liabilities
59,944
Net assets
85,174
Capital and reserves
Called up share capital
100
100
Profit and loss account
59,844
85,074
59,944
85,174
Shareholders funds
For the year ended 30 April 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
2) 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.
Date approved by the board: 22 July 2014
Mr Mark Raffo Director
Signed on behalf of the board of directors
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5
Notes to the Abbreviated Financial Statements
PDQ Spares Limited
For the year ended 30 April 2014
1 Accounting Policies
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website Cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
10% Reducing balance
Plant and Machinery
15% Reducing balance
Motor Vehicles
25% Reducing balance
Fixtures and Fittings
15% Reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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6
Notes to the Abbreviated Financial Statements
PDQ Spares Limited
For the year ended 30 April 2014
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
79,529
At 01 May 2013
At 30 April 2014
79,529
Depreciation
53,330
At 01 May 2013
1,868
Charge for year
55,198
At 30 April 2014
Net book values
At 30 April 2014
24,331
26,199
At 30 April 2013
2013
2014
3 Creditors due after more than one year
£
£
42,178
-
Bank loans and overdraft
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