Abbreviated Company Accounts - PALFREY & WEBB LIMITED

PALFREY & WEBB LIMITED - Company Information

Registered Number 00502777

PALFREY & WEBB LIMITED

Abbreviated Accounts

31 December 2014

PALFREY & WEBB LIMITED Registered Number 00502777

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	447,366	447,366
		447,366	447,366
Current assets
Debtors		6,723	8,832
Cash at bank and in hand		38,746	25,406
		45,469	34,238
Creditors: amounts falling due within one year		(15,318)	(13,860)
Net current assets (liabilities)		30,151	20,378
Total assets less current liabilities		477,517	467,744
Creditors: amounts falling due after more than one year		(64,467)	(70,285)
Total net assets (liabilities)		413,050	397,459
Capital and reserves
Called up share capital		1,000	1,000
Revaluation reserve		18,814	18,814
Profit and loss account		393,236	377,645
Shareholders' funds		413,050	397,459

For the year ending 31 December 2014 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 28 September 2015

And signed on their behalf by:
Mr. C. F. Gill, Director

PALFREY & WEBB LIMITED Registered Number 00502777

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of Accounting
================
The Accounts have been prepared under the Historical Cost Convention in accordance with applicable accounting standards and the Financial Reporting Standards For Smaller Entities (Effective April 2008).

The company has taken advantage of the exemptions in the Financial Reporting Standard Number 1 from the requirement to produce a Cash Flow Statement on the grounds that it is a small company.

Turnover policy
Turnover
========
Turnover represents total sales less Value Added Tax.

Tangible assets depreciation policy
Depreciation
===========
Depreciation is provided at the following rate to write down the cost or valuation, less estimated residual values, of all tangible fixed assets, with the exception of freehold land, over their expected useful lives:-

Longterm Leasehold Properties NIL

Other accounting policies
Deferred Taxation
=============
Provision is made for deferred taxation using the liability method, which takes account of the timing differences between the incidence of income and expenditure for taxation and accounting purposes, except to the extent that the Directors consider the liability to taxation is unlikely to arise.

INVESTMENT PROPERTIES
=======================
Investment properties are internally valued by the Directors every year, and these values are currently being reviewed.

2Tangible fixed assets

	£
Cost
At 1 January 2014	447,366
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	447,366
Depreciation
At 1 January 2014	-
Charge for the year	-
On disposals	-
At 31 December 2014	-
Net book values
At 31 December 2014	447,366
At 31 December 2013	447,366

Investment properties are internally valued by the Directors every year, and these values are currently being reviewed. It is likely in the year ended 31st December 2015 that these will substantially be devalued.