Abbreviated Company Accounts - PORTER & DAUGHTER LIMITED

PORTER & DAUGHTER LIMITED - Company Information

08128572 PORTER & DAUGHTER LIMITED 2015-06-30 false 2014-07-01 2015-06-30 true 08128572 2014-07-01 2015-06-30 08128572 2015-06-30 08128572 2014-06-30 08128572 uk-gaap-cd-bus:Director1 2014-07-01 2015-06-30 08128572 uk-gaap-cd-bus:Director2 2014-07-01 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-01 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-06-30 iso4217:GBP shares

Registered Number 08128572

PORTER & DAUGHTER LIMITED

Abbreviated Accounts

30 June 2015

PORTER & DAUGHTER LIMITED Registered Number 08128572

Abbreviated Balance Sheet as at 30 June 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	51,055	11,493
		51,055	11,493
Current assets
Stocks		2,279,696	438,826
Debtors		51,877	45,663
Cash at bank and in hand		68,479	88,929
		2,400,052	573,418
Creditors: amounts falling due within one year	3	(2,548,724)	(597,770)
Net current assets (liabilities)		(148,672)	(24,352)
Total assets less current liabilities		(97,617)	(12,859)
Creditors: amounts falling due after more than one year	3	(5,500)	-
Total net assets (liabilities)		(103,117)	(12,859)
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		(103,217)	(12,959)
Shareholders' funds		(103,117)	(12,859)

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.

Approved by the Board on 31 March 2016

And signed on their behalf by:
Mr N Porter, Director

PORTER & DAUGHTER LIMITED Registered Number 08128572

Notes to the Abbreviated Accounts for the period ended 30 June 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost &D.7715 residual value of each asset over its expected useful life, as follows:
Land and buildings over 20 years
Motor vehicles - 25% straight line

Other accounting policies
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Stock and work in progress are valued at the lower of cost and net realisable value. Stock includes the borrowing costs relating to that property.

2Tangible fixed assets

	£
Cost
At 1 July 2014	12,098
Additions	48,702
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2015	60,800
Depreciation
At 1 July 2014	605
Charge for the year	9,140
On disposals	-
At 30 June 2015	9,745
Net book values
At 30 June 2015	51,055
At 30 June 2014	11,493

3Creditors

	2015 £	2014 £
Secured Debts	1,052,346	191,959

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100