Peaks & Dales Medical Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03927936

Abbreviated Accounts

for the Year Ended 28 February 2015

for

Peaks & Dales Medical Limited

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

Mrs R V Burgess

R J Hobson

REGISTERED OFFICE:

Charter House

Wyvern Court, Stanier Way

Wyvern Business Park

Derby

DE21 6BF

REGISTERED NUMBER:

03927936

ACCOUNTANTS:

M. J. Shapcott & Co. Limited

Chartered Accountants

Charter House, Wyvern Court

Stanier Way

Derby

DE21 6BF

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 three to six)

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 Peaks & Dales Medical Limited for the year ended 28 February 2015 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 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 Peaks & Dales Medical 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 Peaks & Dales Medical Limited and state those matters that we have agreed to state to the Board of Directors of Peaks & Dales Medical Limited, 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Peaks & Dales Medical 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 profit of Peaks & Dales Medical Limited. You consider that Peaks & Dales Medical 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 Peaks & Dales Medical

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.

M. J. Shapcott & Co. Limited

Chartered Accountants

Charter House, Wyvern Court

Stanier Way

Derby

DE21 6BF

18 September 2015

FIXED ASSETS

Tangible assets

2

33,588

36,448

CURRENT ASSETS

Stocks

36,589

26,435

Debtors

47,569

48,221

Cash at bank and in hand

68,496

80,637

152,654

155,293

CREDITORS

Amounts falling due within one year

3

42,784

63,691

NET CURRENT ASSETS

109,870

91,602

TOTAL ASSETS LESS CURRENT LIABILITIES

143,458

128,050

CREDITORS

Amounts falling due after more than one year

3

(531

)

-

PROVISIONS FOR LIABILITIES

(7,289

)

(7,290

)

NET ASSETS

135,638

120,760

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

135,636

120,758

SHAREHOLDERS' FUNDS

135,638

120,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2015 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 18 September 2015 and were signed on its behalf by:

R J Hobson - Director

1.	ACCOUNTING POLICIES

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).

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.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Turnover

Turnover represents the value of goods supplied, less discounts given and VAT. Turnover is recognised when the

company has transferred the significant risks and rewards of ownership of the goods to the buyer, when the

amount of turnover can be measured reliably when it is probable that the economic benefits associated with the

transaction will flow to the company, typically on the delivery of goods.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2014

85,947

Additions

13,924

Disposals

(20,122

)

At 28 February 2015

79,749

DEPRECIATION

At 1 March 2014

49,499

Charge for year

12,226

Eliminated on disposal

(15,564

)

At 28 February 2015

46,161

NET BOOK VALUE

At 28 February 2015

33,588

At 28 February 2014

36,448

3.

CREDITORS

Creditors include an amount of £ 3,399 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2