Paul Walton Limited - Period Ending 2015-04-30

Registration number: 05785519

Paul Walton Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

Bruce Marshall & Co Limited
Accountants & Tax Advisors
3 Crewe Road
Sandbach
Cheshire
CW11 4NE

Paul Walton Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Paul Walton Limited
(Registration number: 05785519)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					3,315			1,501
Current assets
Debtors					31,470			781
Cash at bank and in hand					45,490			55,969
					76,960			56,750
Creditors: Amounts falling due within one year					(14,891)			(11,397)
Net current assets					62,069			45,353
Total assets less current liabilities					65,384			46,854
Provisions for liabilities					(663)			(300)
Net assets					64,721			46,554
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					64,719			46,552
Shareholders' funds					64,721			46,554

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 1 September 2015 and signed on its behalf by:

.........................................
Mr PFJ Walton
Director

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

Paul Walton 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.

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
Fixtures and fittings	25% reducing balance

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.

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.

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

Paul Walton Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2014		5,613			5,613
Additions		2,919			2,919
At 30 April 2015		8,532			8,532
Depreciation
At 1 May 2014		4,112			4,112
Charge for the year		1,105			1,105
At 30 April 2015		5,217			5,217
Net book value
At 30 April 2015		3,315			3,315
At 30 April 2014		1,501			1,501

3	Share capital

Allotted, called up and fully paid shares

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

Page 3