Parkside Associates Limited - Period Ending 2016-03-31

Registration number: SC317963

Parkside Associates Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Roderick Gunkel and Associates Ltd
Orchardlea
Callander
FK17 8BG

Parkside Associates Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Parkside Associates Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Parkside Associates Limited for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a member of the Association Of Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook/accaglobal.com.

This report is made solely to the Board of Directors of Parkside Associates 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 Parkside Associates Limited and state those matters that we have agreed to state to them, as a body . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parkside Associates Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Parkside Associates 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 Parkside Associates Limited. You consider that Parkside Associates 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 Parkside Associates 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.

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

Roderick Gunkel and Associates Ltd
Orchardlea
Callander
FK17 8BG

3 May 2016

Page 1

Parkside Associates Limited
(Registration number: SC317963)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					-			2,301
Current assets
Debtors					30,870			78,327
Cash at bank and in hand					145,439			18,040
					176,309			96,367
Creditors: Amounts falling due within one year					(47,289)			(38,292)
Net current assets					129,020			58,075
Total assets less current liabilities					129,020			60,376
Provisions for liabilities					-			(449)
Net assets					129,020			59,927
Capital and reserves
Called up share capital		3			40			40
Profit and loss account					128,980			59,887
Shareholders' funds					129,020			59,927

For the year ending 31 March 2016 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 3 May 2016

.........................................
Stuart Ford
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Parkside Associates Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Fixtures, fittings, tools and equipment	20-50% reducing balance p.a.

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.

Tangible fixed assets

		Fixtures and fittings £			Total £
Cost or valuation
At 1 April 2015		5,994			5,994
Additions		4,743			4,743
Disposals		(4,000)			(4,000)
At 31 March 2016		6,737			6,737
Depreciation
At 1 April 2015		3,693			3,693
Charge for the year		3,044			3,044
At 31 March 2016		6,737			6,737
Net book value
At 31 March 2016		-			-
At 31 March 2015		2,301			2,301

Page 3

Parkside Associates Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		5,994			5,994
Additions		4,743			4,743
Disposals		(4,000)			(4,000)
At 31 March 2016		6,737			6,737
Depreciation
At 1 April 2015		3,693			3,693
Charge for the year		3,044			3,044
At 31 March 2016		6,737			6,737
Net book value
At 31 March 2016		-			-
At 31 March 2015		2,301			2,301

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		40			40			40			40

Page 4