Precision Hygiene Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02888042 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2015

for

Precision Hygiene Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M C Gallagher

SECRETARY:

Mrs S Gallagher

REGISTERED OFFICE:

Southgate House

59 Magdalen Street

Exeter

Devon

EX2 4HY

REGISTERED NUMBER:

02888042 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

Southgate House

59 Magdalen Street

Exeter

Devon

EX2 4HY

FIXED ASSETS

Tangible assets

2

47,429

52,176

CURRENT ASSETS

Stocks

16,604

26,081

Debtors

90,337

96,998

Cash at bank and in hand

9

1,157

106,950

124,236

CREDITORS

Amounts falling due within one year

3

124,139

130,617

NET CURRENT LIABILITIES

(17,189

)

(6,381

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,240

45,795

PROVISIONS FOR LIABILITIES

6,395

6,666

NET ASSETS

23,845

39,129

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

23,843

39,127

SHAREHOLDERS' FUNDS

23,845

39,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 4 January 2016 and were signed by:

M C Gallagher - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The director has assessed going concern and considers that there are no material uncertainties which may cast

significant doubt about the company's ability to continue. As a result, the financial statements have been

prepared using the going concern basis of accounting.

Accounting convention

The financial statements 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 net invoiced sales and rentals of goods, excluding value added tax, to the extent that there

is a right to consideration and is recorded at the value of the consideration due. Where a contract has been only

partially completed at the balance sheet date turnover represents the value of the service provided to date

based on a proportion of the total expected consideration at completion. Where payments are received from

customers in advance of services provided, the amounts are recorded as Deferred Income and included as part

of Creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc.

-

25% on reducing balance, 25% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

365,735

Additions

8,918

At 31 August 2015

374,653

DEPRECIATION

At 1 September 2014

313,559

Charge for year

13,665

At 31 August 2015

327,224

NET BOOK VALUE

At 31 August 2015

47,429

At 31 August 2014

52,176

3.

CREDITORS

Creditors include an amount of £ 50,735 (31.8.14 - £ 50,432 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

£

2

Ordinary

£1

2

2

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company provided interest free advances to the director M C Gallagher. These were

repayable on demand.

Total advances during the year: £37,070 (2014 - £25,858)

Amounts repaid: £38,200 (2014 - £17,257)

Outstanding balance at year end: £7,471 (2014 - £8,601)