Proactive Industries Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 03396047 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

FOR

PROACTIVE INDUSTRIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P R Taylor

SECRETARY:

Mrs J K Taylor

REGISTERED OFFICE:

1623 Warwick Road

Knowle

Solihull

West Midlands

B93 9LF

REGISTERED NUMBER:

03396047 (England and Wales)

ACCOUNTANTS:

Athos Business Solutions

1623 Warwick Road

Knowle

Solihull

West Midlands

B93 9LF

FIXED ASSETS

Tangible assets

2

147,519

163,596

CURRENT ASSETS

Stocks

84,309

87,020

Debtors

259,788

230,166

Cash at bank and in hand

41,445

16,393

385,542

333,579

CREDITORS

Amounts falling due within one year

3

315,707

282,744

NET CURRENT ASSETS

69,835

50,835

TOTAL ASSETS LESS CURRENT LIABILITIES

217,354

214,431

CREDITORS

Amounts falling due after more than one year

(101,401

)

(131,283

)

PROVISIONS FOR LIABILITIES

(25,782

)

(15,041

)

NET ASSETS

90,171

68,107

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

90,071

68,007

SHAREHOLDERS' FUNDS

90,171

68,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 17 March 2016 and were signed by:

P R Taylor - 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).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

359,379

Additions

38,875

At 31 January 2016

398,254

DEPRECIATION

At 1 February 2015

195,783

Charge for year

54,952

At 31 January 2016

250,735

NET BOOK VALUE

At 31 January 2016

147,519

At 31 January 2015

163,596

3.

CREDITORS

Creditors include an amount of £ 6,068 (2015 - £ 13,765 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

5.	RELATED PARTY DISCLOSURES

6.	ULTIMATE CONTROLLING PARTY