PS Forwarding Co Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05487007

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

PS FORWARDING CO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Eaton

K G Beesley

SECRETARY:

P Eaton

REGISTERED OFFICE:

Unit B

Tame Park

Vanguard

Tamworth

Staffordshire

B77 5DY

REGISTERED NUMBER:

05487007

ACCOUNTANTS:

MGC Hayles Limited

Chartered Accountants

39 Castle Street

Leicester

LE1 5WN

FIXED ASSETS

Tangible assets

2

80,652

86,389

Investments

3

23,014

123,014

103,666

209,403

CURRENT ASSETS

Debtors

1,154,566

721,835

Cash at bank and in hand

377,036

311,038

1,531,602

1,032,873

CREDITORS

Amounts falling due within one year

1,458,655

1,078,411

NET CURRENT ASSETS/(LIABILITIES)

72,947

(45,538

)

TOTAL ASSETS LESS CURRENT LIABILITIES

176,613

163,865

CAPITAL AND RESERVES

Called up share capital

4

2,000

2,000

Profit and loss account

174,613

161,865

SHAREHOLDERS' FUNDS

176,613

163,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12 June 2015 and were signed on its behalf by:

P Eaton - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving

at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

167,052

Additions

27,937

Disposals

(14,500

)

At 31 December 2014

180,489

DEPRECIATION

At 1 January 2014

80,663

Charge for year

29,086

Eliminated on disposal

(9,912

)

At 31 December 2014

99,837

NET BOOK VALUE

At 31 December 2014

80,652

At 31 December 2013

86,389

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2014

123,014

Impairments

(100,000

)

At 31 December 2014

23,014

NET BOOK VALUE

At 31 December 2014

23,014

At 31 December 2013

123,014

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Associated company

PS Forwarding (2010) Limited

Country of incorporation: England

Nature of business: Freight Forwarders

%

Class of shares:

holding

£1 Ordinary

20.00

2014

2013

£

£

Aggregate capital and reserves

179,158

118,229

Profit for the year

60,929

42,125

During the year the directors have impaired the investments original cost.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2,000

Ordinary

£1

2,000

2,000

5.	ULTIMATE PARENT COMPANY

The ultimate parent company is PS Holdings Limited, a company registered in The Bahamas number

14101563, which is controlled by P Eaton.