Performance Test Company Limited - Period Ending 2015-12-31

Registration number: 03284352

Performance Test Company Limited

Abbreviated Accounts

for the Year Ended 31 December 2015
 

Performance Test Company Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

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 5) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Performance Test Company Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Performance Test Company Limited for the year ended 31 December 2015 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Performance Test Company Limited, as a body, in accordance with the terms of our engagement letter dated 1 March 2011. Our work has been undertaken solely to prepare for your approval the accounts of Performance Test Company Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Performance Test Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Performance Test Company 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 Performance Test Company Limited. You consider that Performance Test Company 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 Performance Test Company 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.

Rowlands Webster Limited
Tax Advisers & Accountants
Austin House
43 Poole Road
Westbourne
Bournemouth
Dorset
BH4 9DN

7 March 2016

Performance Test Company Limited (Registration number: 03284352)

Abbreviated Balance Sheet
  at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					7,391			9,727
Current assets
Stocks					5,200			6,500
Debtors					39,158			56,806
Cash at bank and in hand					48,258			78,645
					92,616			141,951
Creditors: Amounts falling due within one year					(28,894)			(46,784)
Net current assets					63,722			95,167
Total assets less current liabilities					71,113			104,894
Provisions for liabilities					(1,255)			(1,673)
Net assets					69,858			103,221
Capital and reserves
Called up share capital		3			834			834
Profit and loss account					69,024			102,387
Shareholders' funds					69,858			103,221

For the year ending 31 December 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 7 March 2016

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Performance Test Company Limited (Registration number: 03284352)

Abbreviated Balance Sheet
  at 31 December 2015

.........................................
Mr NP Kettle
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Performance Test Company Limited

Notes to the Abbreviated Accounts
  for the Year Ended 31 December 2015

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 January 2015).

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

Asset class	Depreciation method and rate
Plant & machinery	15% straight line basis
Computer equipment	25% straight line basis
Motor vehicles	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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 4

Performance Test Company Limited

Notes to the Abbreviated Accounts
  for the Year Ended 31 December 2015

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		81,528			81,528
At 31 December 2015		81,528			81,528
Depreciation
At 1 January 2015		71,801			71,801
Charge for the year		2,336			2,336
At 31 December 2015		74,137			74,137
Net book value
At 31 December 2015		7,391			7,391
At 31 December 2014		9,727			9,727

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		834			834			834			834

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