P_D_REES_LIMITED - Accounts

P D REES LIMITED - Company Information

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Company Registration No. 04671842 (England and Wales)

P D REES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

P D REES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

P D REES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

27,000

30,000

Tangible assets

14,995

19,478

41,995

49,478

Current assets

Stocks

22,516

21,444

Debtors

5,873

6,311

Cash at bank and in hand

571

143

28,960

27,898

Creditors: amounts falling due within one year

(63,410)

(69,805)

Net current liabilities

(34,450)

(41,907)

Total assets less current liabilities

7,545

7,571

Provisions for liabilities

(2,998)

(3,699)

4,547

3,872

Capital and reserves

Called up share capital

100

Profit and loss account

4,447

3,772

Shareholders' funds

4,547

3,872

P D REES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 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 for issue on 23 July 2014

Mr P Rees

Director

Company Registration No. 04671842

P D REES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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

25% reducing balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

60,000

79,500

139,500

Additions

516

At 31 March 2014

60,000

80,016

140,016

Depreciation

At 1 April 2013

30,000

60,022

90,022

Charge for the year

3,000

4,999

7,999

At 31 March 2014

33,000

65,021

98,021

Net book value

At 31 March 2014

27,000

14,995

41,995

At 31 March 2013

30,000

19,478

49,478

P D REES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100

Control

The ultimate controlling parties are the directors, Mr P Rees and Mrs S Rees, by virtue of their shareholding.

Transactions with directors

Included in other creditors is an amount of £2,068 (2013: £10,368), representing amounts due to the director, Mr P Rees and £2,068 (2013: £10,368) representing amounts due to the director Mrs S Rees at the year end. These amounts are interest free and repayable on demand.