P. G. Tooling Limited - Period Ending 2013-11-30

Registration number: 04996504

P. G. Tooling Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2013
 

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

P. G. Tooling Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Registration number: 04996504

P. G. Tooling Limited
Balance Sheet as at 30 November 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets		2			13,263			15,084
Current assets
Debtors					40,800			55,935
Cash at bank and in hand					167			3,066
					40,967			59,001
Creditors: Amounts falling due within one year					(63,083)			(54,473)
Net current (liabilities)/assets					(22,116)			4,528
Total assets less current liabilities					(8,853)			19,612
Creditors: Amounts falling due after more than one year					-			(2,210)
Provisions for liabilities					(287)			(390)
Net (liabilities)/assets					(9,140)			17,012
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(9,240)			16,912
Shareholders' (deficit)/funds					(9,140)			17,012

For the year ending 30 November 2013 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 14 August 2014 and signed on its behalf by:

P Goodchild
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

P. G. Tooling Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 in respect of the manufacture of tools, is recognised on an accruals basis and is exclusive of value added tax.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land & buildings	Straight line over 15 years
Plant & machinery	25% Reducing balance
Fixtures & fittings	20% Reducing balance
Motor vehicles	25% Straight line

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

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2012		41,206			41,206
Additions		209			209
At 30 November 2013		41,415			41,415
Depreciation
At 1 December 2012		26,122			26,122
Charge for the year		2,030			2,030
At 30 November 2013		28,152			28,152
Net book value
At 30 November 2013		13,263			13,263
At 30 November 2012		15,084			15,084

Page 2

P. G. Tooling Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2013
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2013 Advance/ Credit £	2013 Repaid £	2012 Advance/ Credit £	2012 Repaid £
P Goodchild
	51,750	65,348	17,610	21,523

5

Control

The company is controlled by P Goodchild , Director and Chairman of the Company.

Page 3