Pacific Heating & Plumbing Limited - Period Ending 2015-04-30

Registration number: 06127411

Pacific Heating & Plumbing Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

Thompson Jones Business Solutions Limited
Chartered Accountants
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Pacific Heating & Plumbing Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Pacific Heating & Plumbing Limited
(Registration number: 06127411)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					3,000			4,000
Tangible fixed assets					1,485			1,747
					4,485			5,747
Current assets
Stocks					2,000			1,000
Debtors					4,523			3,109
Cash at bank and in hand					2			2,500
					6,525			6,609
Creditors: Amounts falling due within one year					(10,906)			(11,089)
Net current liabilities					(4,381)			(4,480)
Net assets					104			1,267
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					4			1,167
Shareholders' funds					104			1,267

For the year ending 30 April 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 director acknowledges his 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 director on 18 January 2016

.........................................
Mr Steven John Davies
Director

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

Pacific Heating & Plumbing Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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 in respect of heating and plumbing services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line method

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	15% reducing balance method
Motor vehicles	15% reducing balance method

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.

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.

Page 2

Pacific Heating & Plumbing Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2014		10,000			5,681			15,681
At 30 April 2015		10,000			5,681			15,681
Depreciation
At 1 May 2014		6,000			3,934			9,934
Charge for the year		1,000			262			1,262
At 30 April 2015		7,000			4,196			11,196
Net book value
At 30 April 2015		3,000			1,485			4,485
At 30 April 2014		4,000			1,747			5,747

3

Creditors

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

2015 £

2014 £

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3