Pricepoint Gardening Limited - Period Ending 2015-06-30

Registration number: 4457237

Pricepoint Gardening Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Young & Co
Chartered Accountants
Bewell House
Bewell Street
Hereford
Herefordshire
HR4 0BA

Pricepoint Gardening Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 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.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Pricepoint Gardening 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 Pricepoint Gardening 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 Pricepoint Gardening 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 Pricepoint Gardening 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 Pricepoint Gardening Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pricepoint Gardening 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 Pricepoint Gardening Limited. You consider that Pricepoint Gardening 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 Pricepoint Gardening 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.

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

Young & Co
Chartered Accountants
Bewell House
Bewell Street
Hereford
Herefordshire
HR4 0BA

27 April 2016

Page 1

Pricepoint Gardening Limited
(Registration number: 4457237)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					70,611			67,551
Current assets
Stocks					5,000			5,000
Debtors					91,094			115,188
Cash at bank and in hand					135,819			112,261
					231,913			232,449
Creditors: Amounts falling due within one year					(74,480)			(67,283)
Net current assets					157,433			165,166
Total assets less current liabilities					228,044			232,717
Provisions for liabilities					(5,440)			(4,323)
Net assets					222,604			228,394
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					222,504			228,294
Shareholders' funds					222,604			228,394

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 27 April 2016

.........................................
Mr Edward Warwick Charles Price
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Pricepoint Gardening 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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% SL

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
Motor vehicles	25% WDV
Plant and machiery	15% of cost per annum
Property improvements	2% of cost per annum

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, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Pricepoint Gardening Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

Hire purchase and leasing

Assets acquired under hire purchase agreements and finance leases are capitalised in the balance sheet and are depreciated in accordance with the company’s normal policy. The outstanding liabilities under such agreements, less interest not yet due, are included in creditors. Interest on such agreements is charged to the profit and loss account over the term of each agreement and represents a constant proportion of the balance of capital repayments outstanding.

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2014		80,000			236,013			316,013
Additions		-			13,528			13,528
At 30 June 2015		80,000			249,541			329,541
Depreciation
At 1 July 2014		80,000			168,462			248,462
Charge for the year		-			10,468			10,468
At 30 June 2015		80,000			178,930			258,930
Net book value
At 30 June 2015		-			70,611			70,611
At 30 June 2014		-			67,551			67,551

Page 4

Pricepoint Gardening Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Allotted share capital 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 Edward Warwick Charles Price
Director's current account	47,076	-	22,759	-

Page 5