A & J Palmer Limited - Period Ending 2015-04-30

Registration number: 08197053

A & J Palmer Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

RMCA
Chartered Accountants
The Counting House
9 High Street
Tring
Herts
HP23 5TE

A & J Palmer Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

A & J Palmer Limited
(Registration number: 08197053)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					2			3,334
Tangible fixed assets					4,116			2,902
					4,118			6,236
Current assets
Debtors					70,628			54,513
Cash at bank and in hand					41,651			11,409
					112,279			65,922
Creditors: Amounts falling due within one year					(46,455)			(44,312)
Net current assets					65,824			21,610
Total assets less current liabilities					69,942			27,846
Provisions for liabilities					(823)			(580)
Net assets					69,119			27,266
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					69,117			27,264
Shareholders' funds					69,119			27,266

For the year ending 30 April 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 9 September 2015 and signed on its behalf by:

AM Palmer Director

JS Palmer Director

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

A & J Palmer Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. 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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	Over 3 years

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
Equipment	25% straight line
Fixtures & Fittings	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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

A & J Palmer Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2014		10,000			4,404			14,404
Additions		-			3,087			3,087
At 30 April 2015		10,000			7,491			17,491
Depreciation
At 1 May 2014		6,666			1,502			8,168
Charge for the year		3,332			1,873			5,205
At 30 April 2015		9,998			3,375			13,373
Net book value
At 30 April 2015		2			4,116			4,118
At 30 April 2014		3,334			2,902			6,236

3	Share capital

Allotted, called up and fully paid shares

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

Page 3