Abbreviated Company Accounts - PEN CENTRAL LIMITED

Abbreviated Company Accounts - PEN CENTRAL LIMITED

PRIMARY PRODUCTS LIMITED - Company Information

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Registered Number 09193226

PEN CENTRAL LIMITED

Abbreviated Accounts

31 August 2015

PEN CENTRAL LIMITED Registered Number 09193226

Abbreviated Balance Sheet as at 31 August 2015

Notes 2015
£
Fixed assets
Tangible assets 2 675
675
Current assets
Stocks 6,743
Debtors 3,307
Cash at bank and in hand 5,816
15,866
Creditors: amounts falling due within one year (15,067)
Net current assets (liabilities) 799
Total assets less current liabilities 1,474
Total net assets (liabilities) 1,474
Capital and reserves
Called up share capital 3 100
Profit and loss account 1,374
Shareholders' funds 1,474
  • For the year ending 31 August 2015 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 directors acknowledge their 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 Board on 26 May 2016

And signed on their behalf by:
A Carr, Director

PEN CENTRAL LIMITED Registered Number 09193226

Notes to the Abbreviated Accounts for the period ended 31 August 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

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

Tangible assets depreciation policy
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:

Office equipment - 25% reducing balance

Other accounting policies
Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2Tangible fixed assets
£
Cost
Additions 900
Disposals -
Revaluations -
Transfers -
At 31 August 2015 900
Depreciation
Charge for the year 225
On disposals -
At 31 August 2015 225
Net book values
At 31 August 2015 675
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£
60 A Ordinary shares of £1 each 60
30 B Ordinary shares of £1 each 30
10 C Ordinary shares of £1 each 10

New shares allotted

During the period 60 Ordinary A shares having an aggregate nominal value of £60 were allotted for an aggregate consideration of £60. The reason for allotment was the incorporation of the company.

During the period 30 Ordinary B shares having an aggregate nominal value of £30 were allotted for an aggregate consideration of £30. The reason for allotment was the incorporation of the company.

During the period 10 Ordinary C shares having an aggregate nominal value of £10 were allotted for an aggregate consideration of £10. The reason for allotment was the incorporation of the company.