Pack Meadow Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 08515887 (England and Wales)

PACK MEADOW LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTOR:

R J Southall

REGISTERED OFFICE:

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

REGISTERED NUMBER:

08515887 (England and Wales)

ACCOUNTANTS:

Phoenix Business Associates Limited

Chartered Certified Accountants

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

FIXED ASSETS

Tangible assets

2

186,167

194,617

CURRENT ASSETS

Cash at bank and in hand

1,529

12

CREDITORS

Amounts falling due within one year

3

35,183

33,260

NET CURRENT LIABILITIES

(33,654

)

(33,248

)

TOTAL ASSETS LESS CURRENT LIABILITIES

152,513

161,369

CREDITORS

Amounts falling due after more than one year

3

(95,302

)

(103,504

)

PROVISIONS FOR LIABILITIES

(8,988

)

(10,096

)

NET ASSETS

48,223

47,769

CAPITAL AND RESERVES

Called up share capital

4

125

125

Share premium

64,975

64,975

Profit and loss account

(16,877

)

(17,331

)

SHAREHOLDERS' FUNDS

48,223

47,769

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 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 25 February 2016 and were signed by:

R J Southall - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

As at the balance sheet date the company has net current liabilities. However, included in creditors due

within 1 year are amounts owed to a former director and shareholder who has given an undertaking not to

request such funds until such time as the company is able to repay these. Accordingly the directors

consider that the going concern basis of preparation is appropriate.

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.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

15% on cost

Included in plant and machinery are floodlights with a cost of £35,000. This was the cost paid by the

company for the floodlights during the year and at which time a valuation was placed on them. The

directors have considered the expected useful economic life remaining on the floodlights and consider that

a 10 year straight line period of depreciation is appropriate.

Deferred tax

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

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

and 31 May 2015

198,843

DEPRECIATION

At 1 June 2014

4,226

Charge for year

8,450

At 31 May 2015

12,676

NET BOOK VALUE

At 31 May 2015

186,167

At 31 May 2014

194,617

3.

CREDITORS

Creditors include an amount of £ 107,646 (31/5/14 - £ 115,878 ) for which security has been given.

They also include the following debts falling due in more than five years:

31/5/15

31/5/14

£

£

Repayable by instalments

33,406

41,636

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/15

31/5/14

value:

£

£

125

Ordinary

£1

125

125

During the year ended 31st May 2014 100 Ordinary £1 shares were issued at par as the initial capital base

of the company. A further 25 Ordinary £1 shares were issued during the year at a premium of £64,975 to

further increase the company's capital base to be 125 Ordinary £1 issued shares.

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages

two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Pack Meadow Limited for the year ended 31 May 2015 which comprise the Profit and

Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the director of Pack Meadow Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pack Meadow Limited and state those matters that we have agreed to state to the director of Pack Meadow Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Pack Meadow Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pack Meadow Limited. You consider that Pack Meadow Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pack Meadow

Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or

information and explanations you have given to us and we do not, therefore, express any opinion on the statutory

financial statements.

Phoenix Business Associates Limited

Chartered Certified Accountants

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

25 February 2016