PNP_PACKAGING_SERVICES_LI - Accounts

P.N.P. PACKAGING SERVICES LIMITED - Company Information

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PNP PACKAGING SERVICES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014

Company Registration No. 02728530 (England and Wales)

PNP PACKAGING SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PNP PACKAGING SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

9,899

11,467

Current assets

Debtors

167,955

219,787

Cash at bank and in hand

55,987

30,250

223,942

250,037

Creditors: amounts falling due within one year

(208,727)

(208,195)

Net current assets

15,215

41,842

Total assets less current liabilities

25,114

53,309

Provisions for liabilities

(1,303)

(1,467)

23,811

51,842

Capital and reserves

Called up share capital

100

Profit and loss account

23,711

51,742

Shareholders' funds

23,811

51,842

For the financial year ended 31 July 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 and authorised for issue on 15 April 2015

Paul Robinson

Director

Company Registration No. 02728530

PNP PACKAGING SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Turnover

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

1.3

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

15% Reducing balance

Motor vehicles

25% Reducing balance

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 August 2013

106,298

Additions

1,517

Disposals

(14,323)

At 31 July 2014

93,492

Depreciation

At 1 August 2013

94,831

On disposals

(12,782)

Charge for the year

1,544

At 31 July 2014

83,593

Net book value

At 31 July 2014

9,899

At 31 July 2013

11,467

PNP PACKAGING SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Loans to directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Nicholas Robinson - Loan

(32,696)

34,300

19,616

(18,012)

Paul Robinson - Loan

(32,696)

35,700

21,016

(18,012)

(65,392)

70,000

40,632

(36,024)