Petticoat Lane Fireplaces Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04988881 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

PETTICOAT LANE FIREPLACES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTORS:

Mr T A Moss Snr

Mr T A Moss Jnr

SECRETARY:

Mr T A Moss Snr

REGISTERED OFFICE:

17 Victoria Road East

Thornton Cleveleys

Lancashire

FY5 5HT

REGISTERED NUMBER:

04988881 (England and Wales)

ACCOUNTANTS:

Miller Roskell Limited

Chartered Certified Accountants

17 Victoria Road East

Thornton Cleveleys

Lancashire

FY5 5HT

BANKERS:

HSBC Bank plc

40 Fishergate

Preston

Lancashire

PR1 2AD

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

18,973

8,561

18,973

8,561

CURRENT ASSETS

Stocks

20,049

22,036

Debtors

534

-

Cash at bank and in hand

15,565

16,979

36,148

39,015

CREDITORS

Amounts falling due within one year

75,187

65,059

NET CURRENT LIABILITIES

(39,039

)

(26,044

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(20,066

)

(17,483

)

CREDITORS

Amounts falling due after more than one year

5,531

-

NET LIABILITIES

(25,597

)

(17,483

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(25,697

)

(17,583

)

SHAREHOLDERS' FUNDS

(25,597

)

(17,483

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 September 2015 and were signed on its behalf by:

Mr T A Moss Jnr - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company's balance sheet shows excess of liabilities over assets of £25,597, and net current

liabilities of £39,039.

The company is dependent upon the continuing support of its major creditors to enable it to meet its

day to day working capital requirements.

On this basis the financial statements have been prepared on the going concern basis. The financial

statements do not include any adjustments that would result from the withdrawal of support of the

creditors.

Accounting convention

The financial statements 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 of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

30,000

AMORTISATION

At 1 January 2014

and 31 December 2014

30,000

NET BOOK VALUE

At 31 December 2014

-

At 31 December 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

20,109

Additions

17,950

Disposals

(14,450

)

At 31 December 2014

23,609

DEPRECIATION

At 1 January 2014

11,548

Charge for year

2,309

Eliminated on disposal

(9,221

)

At 31 December 2014

4,636

NET BOOK VALUE

At 31 December 2014

18,973

At 31 December 2013

8,561

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1.00

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Petticoat Lane Fireplaces Limited for the year ended 31 December 2014 which

comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Petticoat Lane Fireplaces Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Petticoat Lane Fireplaces Limited and state those matters that we have agreed to state to the Board of Directors of Petticoat Lane Fireplaces Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Petticoat Lane Fireplaces Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Petticoat Lane Fireplaces Limited. You consider that Petticoat Lane Fireplaces 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 financial statements of Petticoat Lane

Fireplaces 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 financial statements.

Miller Roskell Limited

Chartered Certified Accountants

17 Victoria Road East

Thornton Cleveleys

Lancashire

FY5 5HT

30 September 2015