PROCTER_BROTHERS_(BRADFOR - Accounts
PROCTER_BROTHERS_(BRADFOR - Accounts
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
Company Registration No. 00935978 (England and Wales)
COMPANY INFORMATION
Directors
Secretary
Company number
Registered office
Accountants
Bankers
Natwest Bank plc
1 Market Street
Bradford
West Yorkshire
BD1 1EG
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 MAY 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
-
Creditors: amounts falling due within one year
(406,051 )
(188,213 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(36,985 )
(7,509 )
Capital and reserves
Called up share capital
3
Share premium account
Other reserves
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 22 September 2015
Director
Company Registration No. 00935978
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Plant and machinery
Fixtures, fittings & office equipment
Motor vehicles
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2014
206,216
Additions
60,000
Disposals
(68,211)
At 31 May 2015
198,005
Depreciation
At 1 June 2014
172,473
On disposals
(68,211)
Charge for the year
26,833
At 31 May 2015
131,095
Net book value
At 31 May 2015
66,910
At 31 May 2014
33,744
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid