Prescross Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08019924 (England and Wales)

PRESCROSS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J F Thomas

Mrs L M Thomas

REGISTERED OFFICE:

West Lodge

Rainbow Street

Leominster

Herefordshire

HR6 8DQ

REGISTERED NUMBER:

08019924 (England and Wales)

ACCOUNTANTS:

Davies Edwards & Co

Chartered Certified Accountants

West Lodge

Rainbow Street

Leominster

Herefordshire

HR6 8DQ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

1,211

1,950

1,211

1,950

CURRENT ASSETS

Stocks

5,929

-

Debtors

6,211

-

Cash at bank

1,445

57,628

13,585

57,628

CREDITORS

Amounts falling due within one year

10,222

29,666

NET CURRENT ASSETS

3,363

27,962

TOTAL ASSETS LESS CURRENT LIABILITIES

4,574

29,912

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

4,474

29,812

SHAREHOLDERS' FUNDS

4,574

29,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 8 January 2016 and were signed on its behalf by:

J F Thomas - Director

1.	ACCOUNTING POLICIES

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 of goods, excluding value added tax.

Intangible assets

Formation costs are amortised 100% in the first period of trading.

Tangible fixed assets

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

Office equipment

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

and 30 April 2015

179

AMORTISATION

At 1 May 2014

and 30 April 2015

179

NET BOOK VALUE

At 30 April 2015

-

At 30 April 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

3,370

Additions

365

At 30 April 2015

3,735

DEPRECIATION

At 1 May 2014

1,420

Charge for year

1,104

At 30 April 2015

2,524

NET BOOK VALUE

At 30 April 2015

1,211

At 30 April 2014

1,950

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

5.	RELATED PARTY DISCLOSURES