Parkinson Business Finance Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 03778652 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2015

FOR

PARKINSON BUSINESS FINANCE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D J Parkinson

Mrs M T Parkinson

SECRETARY:

Mrs M T Parkinson

REGISTERED OFFICE:

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

REGISTERED NUMBER:

03778652 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

2

86,342

129,012

CURRENT ASSETS

Debtors

3

617,342

530,139

Cash at bank

1,454,144

1,229,203

2,071,486

1,759,342

CREDITORS

Amounts falling due within one year

96,802

41,875

NET CURRENT ASSETS

1,974,684

1,717,467

TOTAL ASSETS LESS CURRENT LIABILITIES

2,061,026

1,846,479

PROVISIONS FOR LIABILITIES

17,268

25,072

NET ASSETS

2,043,758

1,821,407

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

2,042,758

1,820,407

SHAREHOLDERS' FUNDS

2,043,758

1,821,407

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 30 November 2015 and were signed on its behalf by:

D J Parkinson - 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).

Income recognition

Commission income represents commissions receivable in the accounting period, excluding value added tax.

Income from both operating lease agreements and hire purchase agreements is allocated over the period of the

agreement on a straight line basis.

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

-

33% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in

preparing the annual financial statements.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

306,311

Additions

33,034

Disposals

(84,400

)

At 31 May 2015

254,945

DEPRECIATION

At 1 June 2014

177,299

Charge for year

44,626

Eliminated on disposal

(53,322

)

At 31 May 2015

168,603

NET BOOK VALUE

At 31 May 2015

86,342

At 31 May 2014

129,012

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 72,385 (31/5/14 - £ 119,703 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/15

31/5/14

value:

£

£

1,000

Ordinary

£1

1,000

1,000