Estone Personal Credit Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03729110 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

ESTONE PERSONAL CREDIT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P Langley

J M Langley

REGISTERED OFFICE:

186A Dudley Port

Tipton

West Midlands

DY4 7RG

REGISTERED NUMBER:

03729110 (England and Wales)

ACCOUNTANTS:

Bowker, Stevens & Co

Suite No. 2, Centre Court

Vine Lane

Halesowen

West Midlands

B63 3EB

FIXED ASSETS

Tangible assets

2

18,899

17,559

CURRENT ASSETS

Debtors

795,256

652,530

Cash in hand

345,048

299,596

1,140,304

952,126

CREDITORS

Amounts falling due within one year

220,019

159,263

NET CURRENT ASSETS

920,285

792,863

TOTAL ASSETS LESS CURRENT LIABILITIES

939,184

810,422

CAPITAL AND RESERVES

Called up share capital

3

400

400

Profit and loss account

938,784

810,022

SHAREHOLDERS' FUNDS

939,184

810,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 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 22 May 2016 and were signed on its behalf by:

P Langley - Director

J M Langley - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company continues to maintain a high level of net current assets. The directors continue to envisage a high

liquidity and the company has no plans to seek finance from its bankers. As a result, the directors have concluded

that there are no material uncertainties regarding going concern and accordingly has adopted the going concern

basis of accounting.

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).

Turnover

Turnover represents the total accrued in the period in respect of charges for credit, recharges and commission

receivable, net of any rebates allowed. All turnover is derived in the UK.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost, 20% on cost and 15% on cost

Fixed assets costing under £1000 are written off to the profit and loss account in the year that the expenditure

was incurred.

Fixed assets costing over £1000 are stated at cost less depreciation.

Deferred tax

Deferred tax is provided using the liability method in respect of all material timing differences that have

originated but not reversed at the balance sheet date. Deferred tax assets are recognised where it is considered

more likely than not that future profits will be available for offset. The company has not adopted a policy of

discounting deferred tax assets and liabilities.

Hire purchase and leasing commitments

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

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

47,291

Additions

6,340

Disposals

(12,271

)

At 31 March 2016

41,360

DEPRECIATION

At 1 April 2015

29,732

Charge for year

5,000

Eliminated on disposal

(12,271

)

At 31 March 2016

22,461

NET BOOK VALUE

At 31 March 2016

18,899

At 31 March 2015

17,559

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

400

Ordinary

£1

400

400

4.	ASSETS LET UNDER HIRE PURCHASE CONTRACTS

The cost of assets acquired for the purpose of letting under hire purchase contracts at the balance sheet date was

£40,115. The net investment in the related hire purchase contracts at the balance sheet date was £35,840.