Abbreviated Company Accounts - PALMERS AT ULLESTHORPE LIMITED
Abbreviated Company Accounts - PALMERS AT ULLESTHORPE LIMITED
Registered Number 07759445
PALMERS AT ULLESTHORPE LIMITED
Abbreviated Accounts
31 July 2014
PALMERS AT ULLESTHORPE LIMITED Registered Number 07759445
Abbreviated Balance Sheet as at 31 July 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Called up share capital not paid |
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Fixed assets | |||
Intangible assets |
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Tangible assets | 2 |
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Investments |
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Current assets | |||
Stocks |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year | 3 |
( |
( |
Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
( |
( |
Provisions for liabilities |
( |
( |
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Accruals and deferred income |
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Total net assets (liabilities) |
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( |
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Capital and reserves | |||
Called up share capital | 4 |
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Share premium account |
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Revaluation reserve |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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( |
For the year ending 31 July 2014 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
And signed on their behalf by:
PALMERS AT ULLESTHORPE LIMITED Registered Number 07759445
Notes to the Abbreviated Accounts for the period ended 31 July 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Land Not depreciated
Buildings 15% straight line
Leasehold improvements 15% straight line
Fixtures, fittings & equipment 10% - 33% straight line
Vehicles 25% reducing balance
Other accounting policies
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.
Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.
Hire purchase and leasing
Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.
£ | |
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Cost | |
At 1 August 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2014 |
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Depreciation | |
At 1 August 2013 |
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Charge for the year |
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On disposals |
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At 31 July 2014 |
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Net book values | |
At 31 July 2014 | 343,474 |
At 31 July 2013 | 358,173 |
2014
£ |
2013
£ |
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Secured Debts |
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Instalment debts due after 5 years |
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Non-instalment debts due after 5 years |
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