Pontypool Automatics Limited - Period Ending 2015-07-31

Registration number: 04063954

Pontypool Automatics Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2015
 

Pontypool Automatics Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Pontypool Automatics Limited
(Registration number: 04063954)
Abbreviated Balance Sheet at 31 July 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					59,675			67,134
Tangible fixed assets					68,032			55,510
					127,707			122,644
Current assets
Stocks					585			570
Debtors					30,536			19,448
Cash at bank and in hand					5,329			7,926
					36,450			27,944
Creditors: Amounts falling due within one year					(16,716)			(18,010)
Net current assets					19,734			9,934
Net assets					147,441			132,578
Capital and reserves
Called up share capital		3			1,000			1,000
Share premium account					127,304			127,304
Profit and loss account					19,137			4,274
Shareholders' funds					147,441			132,578

For the year ending 31 July 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 21 December 2015 and signed on its behalf by:

.........................................
Mr John Dibble
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Pontypool Automatics Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Goodwill is disclosed in the accounts at its cost, less any, diminuation in value, over its useful life.

Amortisation

Amortisation of goodwill is based on the diminuation of its value.

Asset class	Amortisation method and rate
Goodwill	Over 10 years

Depreciation

Tangible fixed assets are stated at cost less 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
Plant and machinery	25% Reducing Balance
Fixtures, fittings & equipment	25 - 33% Reducing Balance
Motor Vehicles	25% Reducing Balance

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

Pontypool Automatics Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2014		74,593			207,835			282,428
Additions		-			32,225			32,225
At 31 July 2015		74,593			240,060			314,653
Depreciation
At 1 August 2014		7,459			152,325			159,784
Charge for the year		7,459			19,703			27,162
At 31 July 2015		14,918			172,028			186,946
Net book value
At 31 July 2015		59,675			68,032			127,707
At 31 July 2014		67,134			55,510			122,644

3	Share capital

Allotted, called up and fully paid shares

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

Page 3