PRESCO LTD - Abbreviated accounts

Registered number

04205134

PRESCO LTD

Abbreviated Accounts

30 April 2015

PRESCO LTD
Registered number:		04205134
Abbreviated Balance Sheet
as at 30 April 2015

Notes			2015			2014
€				€
Fixed assets
Tangible assets	2		412			550

Current assets
Debtors		58,268			209,086
Cash at bank and in hand		688,193			691,152
		746,461			900,238

Creditors: amounts falling due within one year		(14,077)			(11,790)

Net current assets			732,384			888,448

Total assets less current liabilities			732,796			888,998


Provisions for liabilities			(29)			(57)


Net assets			732,767			888,941

Capital and reserves
Called up share capital	3		1			1
Profit and loss account			732,766			888,940

Shareholder's funds			732,767			888,941

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr K Benhamza
Director
Approved by the board on 30 November 2015

PRESCO LTD
Notes to the Abbreviated Accounts
for the year ended 30 April 2015

1	Accounting policies

	Basis of preparation
	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
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			25% reducing balance

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.


2	Tangible fixed assets					€

	Cost
	At 1 May 2014					2,167
	At 30 April 2015					2,167

	Depreciation
	At 1 May 2014					1,617
	Charge for the year					138
	At 30 April 2015					1,755

	Net book value
	At 30 April 2015					412
	At 30 April 2014					550


3	Share capital	Nominal		2015		2015		2014
value			Number		€		€
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1		1		1

	The company's authorised and issued share capital is in Pound Sterling. The called up share capital is stated in the balance sheet in Euro following translation using the rate of exchange prevailing on the date of issue.

	On 4 November 2004 the company increased its authorised share capital to 200,000 ordinary £1 shares. On the same day the company allotted 199,999 £1 ordinary shares. To date these shares have not been called up and remain unpaid.