PN Stubbs Limited - Period Ending 2015-06-30

Registration number: 06341937

PN Stubbs Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Paul Austen Associates Ltd
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

PN Stubbs Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
PN Stubbs Limited
for the Year Ended 30 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PN Stubbs Limited for the year ended 30 June 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of PN Stubbs Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of PN Stubbs Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PN Stubbs Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PN Stubbs Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PN Stubbs Limited. You consider that PN Stubbs 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 accounts of PN Stubbs 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 accounts.

......................................

Paul Austen Associates Ltd
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Congleton
Cheshire
CW12 4BA

3 November 2015

Page 1

PN Stubbs Limited
(Registration number: 06341937)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					2,758			3,678
Investments					300,000			300,000
					302,758			303,678
Current assets
Cash at bank and in hand					3,323			748
Creditors: Amounts falling due within one year					(222,969)			(227,263)
Net current liabilities					(219,646)			(226,515)
Total assets less current liabilities					83,112			77,163
Creditors: Amounts falling due after more than one year					-			(4,500)
Net assets					83,112			72,663
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					83,012			72,563
Shareholders' funds					83,112			72,663

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 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 3 November 2015

.........................................
Mr Paul Nicholas Stubbs
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

PN Stubbs 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 & Machinery	25% per annum reducing balance
Motor Vehicles	25% per annum reducing balance
Fixtures and Fittings	25% per annum reducing balance
Office Equioment	25% per annum reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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 3

PN Stubbs Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 July 2014		142,230			300,000			442,230
At 30 June 2015		142,230			300,000			442,230
Depreciation
At 1 July 2014		138,552			-			138,552
Charge for the year		920			-			920
At 30 June 2015		139,472			-			139,472
Net book value
At 30 June 2015		2,758			300,000			302,758
At 30 June 2014		3,678			300,000			303,678

3	Share capital

Allotted, called up and fully paid shares

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

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Paul Nicholas Stubbs
Amounts owed to director	202,144	-	210,824	-

Page 4