Pearson Building Limited - Period Ending 2015-06-30

Registration number: 5478550

Pearson Building Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Pearson Building Limited
(Registration number: 5478550)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			9,638			11,665
Current assets
Stocks					24,897			23,495
Debtors					8,558			10,043
Cash at bank and in hand					18,443			4,241
					51,898			37,779
Creditors: Amounts falling due within one year					(65,066)			(69,253)
Net current liabilities					(13,168)			(31,474)
Total assets less current liabilities					(3,530)			(19,809)
Creditors: Amounts falling due after more than one year					(2,632)			(6,723)
Provisions for liabilities					(1,929)			(2,333)
Net liabilities					(8,091)			(28,865)
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					(9,091)			(29,865)
Shareholders' deficit					(8,091)			(28,865)

The notes on pages 3 to 5 form an integral part of these financial statements.
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Pearson Building Limited
(Registration number: 5478550)
Abbreviated Balance Sheet at 30 June 2015
......... continued

For the year ending 30 June 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the director on 13 December 2015

.........................................
Mr D A Pearson
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
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Pearson Building Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 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).

Turnover

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

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
Motor vechicles	25% reducing balance
Office equipment	25% reducing balance

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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Pearson Building Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		16,520			16,520
Additions		1,188			1,188
At 30 June 2015		17,708			17,708
Depreciation
At 1 July 2014		4,855			4,855
Charge for the year		3,215			3,215
At 30 June 2015		8,070			8,070
Net book value
At 30 June 2015		9,638			9,638
At 30 June 2014		11,665			11,665

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		6,346			9,852
Amounts falling due after more than one year		2,632			6,723
Total secured creditors		8,978			16,575

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Pearson Building Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

4	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

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