Pilkingtons (Accrington) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02346720 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Pilkingtons (Accrington) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A Pilkington

SECRETARY:

A Pilkington

REGISTERED OFFICE:

22 - 28 Willow Street

Accrington

Lancashire

BB5 1LP

REGISTERED NUMBER:

02346720 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

94,274

67,654

94,274

67,654

CURRENT ASSETS

Stocks

13,651

17,064

Debtors

101,247

77,378

Cash at bank and in hand

63,356

49,211

178,254

143,653

CREDITORS

Amounts falling due within one year

56,414

68,870

NET CURRENT ASSETS

121,840

74,783

TOTAL ASSETS LESS CURRENT LIABILITIES

216,114

142,437

PROVISIONS FOR LIABILITIES

18,747

13,531

NET ASSETS

197,367

128,906

CAPITAL AND RESERVES

Called up share capital

4

100

100

Share premium

413,419

413,419

Retained earnings

(216,152

)

(284,613

)

SHAREHOLDERS' FUNDS

197,367

128,906

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 17 March 2016 and were signed by:

A Pilkington - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 2004, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

401,200

AMORTISATION

At 1 January 2015

and 31 December 2015

401,200

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

180,166

Additions

52,827

At 31 December 2015

232,993

DEPRECIATION

At 1 January 2015

112,512

Charge for year

26,207

At 31 December 2015

138,719

NET BOOK VALUE

At 31 December 2015

94,274

At 31 December 2014

67,654

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/15

31/12/14

value:

£

£

100

ORDINARY

£1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2015 and

31 December 2014:

31/12/15

31/12/14

£

£

A Pilkington

Balance outstanding at start of year

38,509

38,534

Amounts advanced

5,539

24,300

Amounts repaid

(5,539

)

(24,325

)

Balance outstanding at end of year

38,509

38,509

Interest has been charged on the overdrawn directors loan account at 3.25% upto 31st March and 3.00%

thereafter.