Peggs Joinery Limited - Abbreviated accounts

PEGGS JOINERY LIMITED - Company Information

Registered number

08282469

Peggs Joinery Limited

Abbreviated Accounts

31 October 2014

Peggs Joinery Limited

Report to the directors on the preparation of the unaudited abbreviated accounts of Peggs Joinery Limited for the year ended 31 October 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Peggs Joinery Limited for the year ended 31 October 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Peggs Joinery Limited, as a body, in accordance with the terms of our engagement letter dated 7 November 2012. Our work has been undertaken solely to prepare for your approval the accounts of Peggs Joinery Limited and state those matters that we have agreed to state to the Board of Directors of Peggs Joinery Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peggs Joinery Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Peggs Joinery Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Peggs Joinery Limited. You consider that Peggs Joinery Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Peggs Joinery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts.

Steven R Francis & Co Limited
Chartered Certified Accountants
Bury Lodge
Bury Road
Stowmarket
Suffolk
IP14 1JA

14 April 2015

Peggs Joinery Limited
Registered number:		08282469
Abbreviated Balance Sheet
as at 31 October 2014

Notes			2014			2013
£				£
Fixed assets
Intangible assets	2		16,400			18,450
Tangible assets	3		2,500			3,750
			18,900			22,200

Current assets
Stocks		9,500			7,917
Debtors		35,609			42,293
Cash at bank and in hand		11,325			6,377
		56,434			56,587

Creditors: amounts falling due within one year		(58,061)			(62,926)

Net current liabilities			(1,627)			(6,339)

Total assets less current liabilities			17,273			15,861

Creditors: amounts falling due after more than one year			(8,426)			(11,508)



Net assets			8,847			4,353

Capital and reserves
Called up share capital	4		200			200
Profit and loss account			8,647			4,153

Shareholders' funds			8,847			4,353

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr J Norman
Director
Approved by the board on 14 April 2015

Peggs Joinery Limited
Notes to the Abbreviated Accounts
for the year ended 31 October 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			25% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Intangible fixed assets					£

	Cost
	At 1 November 2013					20,500
	At 31 October 2014					20,500

	Amortisation
	At 1 November 2013					2,050
	Provided during the year					2,050
	At 31 October 2014					4,100

	Net book value
	At 31 October 2014					16,400
	At 31 October 2013					18,450


3	Tangible fixed assets					£

	Cost
	At 1 November 2013					5,000
	At 31 October 2014					5,000

	Depreciation
	At 1 November 2013					1,250
	Charge for the year					1,250
	At 31 October 2014					2,500

	Net book value
	At 31 October 2014					2,500
	At 31 October 2013					3,750


4	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	'A' ordinary shares	£1 each		100		100		100
	'B' ordinary shares	£1 each		100		100		100
						200		200