PROCESS_&_INDUSTRIAL_DESI - Accounts

PROCESS & INDUSTRIAL DESIGN LIMITED - Company Information

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Company Registration No. 3025108 (England and Wales)

PROCESS & INDUSTRIAL DESIGN LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

PROCESS & INDUSTRIAL DESIGN LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PROCESS & INDUSTRIAL DESIGN LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

26,827

24,931

Current assets

Debtors

258,617

109,564

Cash at bank and in hand

267,156

171,586

525,773

281,150

Creditors: amounts falling due within one year

(206,700)

(186,643)

Net current assets

319,073

94,507

Total assets less current liabilities

345,900

119,438

Creditors: amounts falling due after more than one year

(5,650)

(8,475)

Provisions for liabilities

(166)

340,084

110,797

Capital and reserves

Called up share capital

100

Profit and loss account

339,984

110,697

Shareholders' funds

340,084

110,797

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 September 2015

R Halpin

Director

Company Registration No. 3025108

PROCESS & INDUSTRIAL DESIGN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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

Turnover represents the invoiced value of goods sold and services rendered as principal excluding value added tax and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Premises Improvment

Nil depreciation

Plant and machinery

20% - 25% reducing balance

Fixtures & fittings

20% - 25% reducing balance

Motor vehicles

20% - 25% reducing balance

Fixed assets

Tangible assets

Cost

At 1 January 2014

25,411

Additions

5,390

At 31 December 2014

30,801

Depreciation

At 1 January 2014

480

Charge for the year

3,494

At 31 December 2014

3,974

Net book value

At 31 December 2014

26,827

At 31 December 2013

24,931

PROCESS & INDUSTRIAL DESIGN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £2,825 (2013 - £2,825).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £5,650 (2013 - £8,475).

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Ultimate parent company

D J White and R Halpin each hold 50% of the issued share capital of the company.