P R Elford Limited - Limited company - abbreviated - 11.0.0

P R Elford Limited - Limited company - abbreviated - 11.0.0

P.R. ELFORD LIMITED - Company Information

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REGISTERED NUMBER: 06741244 (England and Wales)











ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

P R ELFORD LIMITED

P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

P R ELFORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2013







DIRECTORS: P R Elford
Miss J Barrett





REGISTERED OFFICE: 18 High West Street
Dorchester
Dorset
DT1 1UW





REGISTERED NUMBER: 06741244 (England and Wales)





ACCOUNTANTS: Pugsley Revill
18 High West Street
Dorchester
Dorset
DT1 1UW
Page 1
P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2013

2013 2012
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 150,000 160,000
Tangible assets 3 54,068 52,384
204,068 212,384

CURRENT ASSETS
Stocks 33,479 29,174
Debtors 60,464 71,819
Cash at bank 35,652 5,641
129,595 106,634
CREDITORS
Amounts falling due within one year 4 256,904 265,000
NET CURRENT LIABILITIES (127,309 ) (158,366 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
76,759
54,018

CREDITORS
Amounts falling due after more than one
year
4
(63,793		 )
(43,886		 )

PROVISIONS FOR LIABILITIES (8,342 ) (7,463 )
NET ASSETS 4,624 2,669

CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and loss account 4,524 2,569
SHAREHOLDERS' FUNDS 4,624 2,669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 notes form part of these abbreviated accounts

Page 2 continued...
P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

ABBREVIATED BALANCE SHEET - continued
31 DECEMBER 2013


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 Board of Directors on 12 September 2014 and were signed on its
behalf by:




P R Elford - Director



Miss J Barrett - Director


The notes form part of these abbreviated accounts

Page 3
P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

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.

Plant and equipment - 20% on reducing balance
Furniture and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office and computer equipment - 25% on reducing balance

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after making due
provision for obsolete and slow-moving items.

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads and in the
case
of work in progress a proportion of attributable profit.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over
the period of the lease.

Page 4 continued...
P R ELFORD LIMITED (REGISTERED NUMBER: 06741244)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2013

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2013
and 31 December 2013 200,000
AMORTISATION
At 1 January 2013 40,000
Amortisation for year 10,000
At 31 December 2013 50,000
NET BOOK VALUE

At 31 December 2013 150,000
At 31 December 2012 160,000

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2013 111,044
Additions 18,724
At 31 December 2013 129,768
DEPRECIATION
At 1 January 2013 58,660
Charge for year 17,040
At 31 December 2013 75,700
NET BOOK VALUE
At 31 December 2013 54,068
At 31 December 2012 52,384

4. CREDITORS

Creditors include an amount of £ 90,697 (2012 - £ 62,108 ) for which security has been given.

They also include the following debts falling due in more than five years:

2013 2012
£    £   
Repayable by instalments - 3,806

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2013 2012
value: £    £   
100 Ordinary A £1 100 100

Page 5