PREM_CHEM_LIMITED - Accounts

PREM CHEM LIMITED - Company Information

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Company Registration No. 07885250 (England and Wales)

PREM CHEM LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

PREM CHEM LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

PREM CHEM LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

80,792

18,352

Current assets

Debtors

113,404

3,492

Cash at bank and in hand

226

22,297

113,630

25,789

Creditors: amounts falling due within one year

(111,644)

(44,185)

Net current assets/(liabilities)

1,986

(18,396)

Total assets less current liabilities

82,778

(44)

Capital and reserves

Profit and loss account

82,778

(44)

Shareholders' funds

82,778

(44)

For the financial year ended 30 September 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 5 December 2014

Mr Lee Shepard

Director

Company Registration No. 07885250

PREM CHEM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

Motor vehicles

Fixed assets

Tangible assets

Cost

At 1 October 2013

22,840

Additions

82,550

At 30 September 2014

105,390

Depreciation

At 1 October 2013

4,488

Charge for the year

20,110

At 30 September 2014

24,598

Net book value

At 30 September 2014

80,792

At 30 September 2013

18,352