PEM Laser Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01747946 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

FOR

PEM LASER LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S A Bell

SECRETARY:

S A Bell

REGISTERED OFFICE:

Sutherland House

1759 London Road

Leigh-on-Sea

Essex

SS9 2RZ

REGISTERED NUMBER:

01747946 (England and Wales)

ACCOUNTANTS:

Platt Rushton LLP

Chartered Accountants

Sutherland House

1759 London Road

Leigh On Sea

Essex

SS9 2RZ

BANKERS:

HSBC Bank Plc

Brentwood DSC

Unit B Redwing Court

Ashton Road

Harold Hill

Romford Essex

RM3 8UD

FIXED ASSETS

Tangible assets

2

412,896

436,252

CURRENT ASSETS

Stocks

105,000

-

Debtors

61,102

32,430

Cash at bank

5,810

529

171,912

32,959

CREDITORS

Amounts falling due within one year

228,199

145,835

NET CURRENT LIABILITIES

(56,287

)

(112,876

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

356,609

323,376

CREDITORS

Amounts falling due after more than one
year

11,285

19,665

NET ASSETS

345,324

303,711

CAPITAL AND RESERVES

Called up share capital

3

25,000

Profit and loss account

320,324

278,711

SHAREHOLDERS' FUNDS

345,324

303,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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 28 April 2016 and were signed by:

S A Bell - 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 January 2015).

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related

Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Land and buildings

-

2% on cost upon completion

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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 September 2014

1,025,724

Additions

10,253

At 31 August 2015

1,035,977

DEPRECIATION

At 1 September 2014

589,472

Charge for year

33,609

At 31 August 2015

623,081

NET BOOK VALUE

At 31 August 2015

412,896

At 31 August 2014

436,252

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

25,000

Ordinary shares

£1

25,000