Abbreviated Company Accounts - PAUL LYSAGHT LIMITED

Abbreviated Company Accounts - PAUL LYSAGHT LIMITED

PAUL LYSAGHT LIMITED - Company Information

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Registered Number 02769338

PAUL LYSAGHT LIMITED

Abbreviated Accounts

31 March 2015

PAUL LYSAGHT LIMITED Registered Number 02769338

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 4,500 5,250
Tangible assets 3 1,288 742
5,788 5,992
Current assets
Stocks 1,550 1,975
Debtors 1,170 582
Cash at bank and in hand 1,795 3,026
4,515 5,583
Creditors: amounts falling due within one year (7,889) (10,347)
Net current assets (liabilities) (3,374) (4,764)
Total assets less current liabilities 2,414 1,228
Total net assets (liabilities) 2,414 1,228
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,314 1,128
Shareholders' funds 2,414 1,228
  • 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.

Approved by the Board on 18 November 2015

And signed on their behalf by:
P Lysaght, Director

PAUL LYSAGHT LIMITED Registered Number 02769338

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales, excluding VAT.

Tangible assets depreciation policy
Depreciation aims to write down the cost less estimated residual value of all
fixed assets on the straight line basis over their expected useful lives.

The rates applicable are:-

Fixtures and equipment 20%

Intangible assets amortisation policy
Purchased goodwill is amortised on a straight line basis over its useful economic life.

Valuation information and policy
Stocks and work in progress are stated at the lower of cost and net realisable value.
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2Intangible fixed assets
£
Cost
At 1 April 2014 15,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2015 15,000
Amortisation
At 1 April 2014 9,750
Charge for the year 750
On disposals -
At 31 March 2015 10,500
Net book values
At 31 March 2015 4,500
At 31 March 2014 5,250
3Tangible fixed assets
£
Cost
At 1 April 2014 7,943
Additions 868
Disposals -
Revaluations -
Transfers -
At 31 March 2015 8,811
Depreciation
At 1 April 2014 7,201
Charge for the year 322
On disposals -
At 31 March 2015 7,523
Net book values
At 31 March 2015 1,288
At 31 March 2014 742