Picture Master Company Ltd - Limited company - abbreviated - 11.9
Picture Master Company Ltd - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 30 June 2015 |
| for |
| PICTURE MASTER COMPANY LTD |
| PICTURE MASTER COMPANY LTD (REGISTERED NUMBER: 06610393) |
| Contents of the Abbreviated Accounts |
| for the year ended 30 June 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| PICTURE MASTER COMPANY LTD |
| Company Information |
| for the year ended 30 June 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| PICTURE MASTER COMPANY LTD (REGISTERED NUMBER: 06610393) |
| Abbreviated Balance Sheet |
| 30 June 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| PICTURE MASTER COMPANY LTD (REGISTERED NUMBER: 06610393) |
| Abbreviated Balance Sheet - continued |
| 30 June 2015 |
| The financial statements were approved by the Board of Directors on |
| PICTURE MASTER COMPANY LTD (REGISTERED NUMBER: 06610393) |
| Notes to the Abbreviated Accounts |
| for the year ended 30 June 2015 |
| 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 and services, excluding value added tax arising from the sale |
| and supply of signage material. Income is recognised on despatch of goods or on delivery of a service. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Cost is defined as the initial purchase price of parts and raw materials, including import duties, handling costs |
| and delivery, together with directs costs of advertising and marketing incurred. |
| Net realisable value is the estimated proceeds from the sale of items of stock, less all further costs to be |
| incurred in marketing, selling and distributing the items in question. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange |
| ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating |
| result. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's |
| pension scheme are charged to the profit and loss account in the period to which they relate. |
| PICTURE MASTER COMPANY LTD (REGISTERED NUMBER: 06610393) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 30 June 2015 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 July 2014 |
| and 30 June 2015 |
| DEPRECIATION |
| At 1 July 2014 |
| Charge for year |
| At 30 June 2015 |
| NET BOOK VALUE |
| At 30 June 2015 |
| At 30 June 2014 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 June 2015 and |
| 30 June 2014: |
| 2015 | 2014 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| During the year the following dividends were paid to the directors of the company: |
| 2015 | 2014 |
| £ | £ |
| Mr J Xu - 85 Ordinary shares | 29,750 | 15,000 |
| Mrs V Patel - 15 Ordinary shares | 1,500 | 15,000 |