Abbreviated Company Accounts - PATRICKS OF PARSON DROVE LIMITED

PATRICKS OF PARSON DROVE LIMITED - Company Information

04257452 PATRICKS OF PARSON DROVE LIMITED 2015-07-31 false 2014-08-01 2015-07-31 true 04257452 2014-08-01 2015-07-31 04257452 2015-07-31 04257452 2014-07-31 04257452 uk-gaap-cd-bus:Director1 2014-08-01 2015-07-31 04257452 uk-gaap-cd-bus:Director2 2014-08-01 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-01 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 iso4217:GBP shares

Registered Number 04257452

PATRICKS OF PARSON DROVE LIMITED

Abbreviated Accounts

31 July 2015

PATRICKS OF PARSON DROVE LIMITED Registered Number 04257452

Abbreviated Balance Sheet as at 31 July 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	120,000	120,000
Investments	3	271	271
		120,271	120,271
Current assets
Stocks		114,261	114,261
Debtors		132	1,126
Cash at bank and in hand		5,326	881
		119,719	116,268
Creditors: amounts falling due within one year		(146,876)	(152,491)
Net current assets (liabilities)		(27,157)	(36,223)
Total assets less current liabilities		93,114	84,048
Total net assets (liabilities)		93,114	84,048
Capital and reserves
Called up share capital	4	2	2
Revaluation reserve		38,050	38,050
Profit and loss account		55,062	45,996
Shareholders' funds		93,114	84,048

For the year ending 31 July 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 27 April 2016

And signed on their behalf by:
Gary Patrick, Director

PATRICKS OF PARSON DROVE LIMITED Registered Number 04257452

Notes to the Abbreviated Accounts for the period ended 31 July 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 amounts chargeable in respect of the sale of goods and services to customers.

Valuation information and policy
Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
Investment Properties
This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed Asset Investment
Fixed asset investments are stated at historical cost less provision for any diminution in value. The market value of listed investments included in the balance sheet at historical cost is £362.

Work in Progress
Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2Tangible fixed assets

	£
Cost
At 1 August 2014	120,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2015	120,000
Depreciation
At 1 August 2014	-
Charge for the year	-
On disposals	-
At 31 July 2015	-
Net book values
At 31 July 2015	120,000
At 31 July 2014	120,000

3Fixed assets Investments
Cost as at 31 July 2015 is £271 and as at 31 July 2014 £271

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

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2