Premier Q Coatings Limited - Period Ending 2015-03-31

Registration number: 04701842

 

Premier Q Coatings Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Premier Q Coatings Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Premier Q Coatings Limited
balance sheet as at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					56,000			59,500
Tangible fixed assets					21,071			26,339
					77,071			85,839
Current assets
Stocks					15,575			15,850
Debtors					75,668			70,992
Cash at bank and in hand					156,925			100,263
					248,168			187,105
Creditors: Amounts falling due within one year					(158,235)			(155,938)
Net current assets					89,933			31,167
Total assets less current liabilities					167,004			117,006
Provisions for liabilities					(2,288)			(2,918)
Total net assets					164,716			114,088
Capital and reserves
Called up share capital		3			25,000			25,000
Profit and loss account					139,716			89,088
Shareholders' funds					164,716			114,088

For the year ending 31 March 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 .

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Premier Q Coatings Limited
balance sheet as at 31 March 2015
......... continued

Approved by the Board on 11 September 2015 and signed on its behalf by:

.........................................
P D Thomas
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Premier Q Coatings Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 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.

Goodwill

Goodwill is being written off evenly over its estimated useful life of twenty years.

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
Office Equipment	20% reducing balance basis
Motor Vehicles	20% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Page 3

Premier Q Coatings Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		70,000			61,718			131,718
At 31 March 2015		70,000			61,718			131,718
Depreciation
At 1 April 2014		10,500			35,379			45,879
Charge for the year		3,500			5,268			8,768
At 31 March 2015		14,000			40,647			54,647
Net book value
At 31 March 2015		56,000			21,071			77,071
At 31 March 2014		59,500			26,339			85,839

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		25,000			25,000			25,000			25,000

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