Abbreviated Company Accounts - P & D DEVELOPMENTS LIMITED
Abbreviated Company Accounts - P & D DEVELOPMENTS LIMITED
Registered Number 05016419
P & D DEVELOPMENTS LIMITED
Abbreviated Accounts
31 March 2014
P & D DEVELOPMENTS LIMITED Registered Number 05016419
Abbreviated Balance Sheet as at 31 March 2014
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 March 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:
P & D DEVELOPMENTS LIMITED Registered Number 05016419
Notes to the Abbreviated Accounts for the period ended 31 March 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost
Equipment - 33% on cost
Other accounting policies
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
£ | |
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Cost | |
At 1 April 2013 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 March 2014 |
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Depreciation | |
At 1 April 2013 |
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Charge for the year |
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On disposals |
( |
At 31 March 2014 |
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Net book values | |
At 31 March 2014 | 712,580 |
At 31 March 2013 | 520,034 |