P & F Andrade Limited - Period Ending 2015-03-31

Registration number: 04584276

P & F Andrade Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Carter Nicholls Limited
Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

P & F Andrade Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
P & F Andrade Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of P & F Andrade Limited for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of P & F Andrade Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of P & F Andrade Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P & F Andrade Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that P & F Andrade 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 P & F Andrade Limited. You consider that P & F Andrade 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 P & F Andrade 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 statutory accounts.

......................................

Carter Nicholls Limited
Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

7 July 2015

Page 1

P & F Andrade Limited
(Registration number: 04584276)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					58,125			65,625
Tangible fixed assets					3,293			4,391
					61,418			70,016
Current assets
Stocks					5,750			8,500
Debtors					15,238			15,237
Cash at bank and in hand					330			550
					21,318			24,287
Creditors: Amounts falling due within one year					(81,094)			(93,432)
Net current liabilities					(59,776)			(69,145)
Net assets					1,642			871
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					1,640			869
Shareholders' funds					1,642			871

For the year ending 31 March 2015 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 7 July 2015 and signed on its behalf by:

.........................................
Mr Fernando Capontes
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

P & F Andrade Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... 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

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of value added tax.

Goodwill

Goodwill is intially recorded at cost.

Amortisation

Amortisation is calculated so as to write off the cost of goodwill over its estimated useful life .

Asset class	Amortisation method and rate
Goodwill	5% straight line

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset.

Asset class	Depreciation method and rate
Leasehold property	20% straight line
Fixtures and fittings	25% reducing balance
Motor vehicles	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

P & F Andrade Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		150,000			43,403			193,403
At 31 March 2015		150,000			43,403			193,403
Depreciation
At 1 April 2014		84,375			39,012			123,387
Charge for the year		7,500			1,098			8,598
At 31 March 2015		91,875			40,110			131,985
Net book value
At 31 March 2015		58,125			3,293			61,418
At 31 March 2014		65,625			4,391			70,016

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Fernando Jorge Andrade
Advanced to company	(17,302)	2,983	(20,285)	4,983
Mr Fernando Capontes
Advanced to company	(17,302)	2,983	(20,285)	4,983

Page 4