DAVID_PEAT_SOLUTIONS_LIMI - Accounts

DAVID PEAT SOLUTIONS LIMITED - Company Information

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Company Registration No. 07186729 (England and Wales)

DAVID PEAT SOLUTIONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

DAVID PEAT SOLUTIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

DAVID PEAT SOLUTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,934

1,663

Current assets

Debtors

414

425

Cash at bank and in hand

3,396

2,378

3,810

2,803

Creditors: amounts falling due within one year

(1,795)

(2,358)

Net current assets

2,015

445

Total assets less current liabilities

3,949

2,108

Capital and reserves

Called up share capital

Profit and loss account

3,947

2,106

Shareholders' funds

3,949

2,108

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 2 June 2016

Mr D A Peat

Director

Company Registration No. 07186729

DAVID PEAT SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has continued to adopt the going concern basis in preparing the financial statements.

1.2

Turnover

Turnover represents amounts receivable for services provided net of VAT.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

20% Straight line

Fixed assets

Tangible assets

Cost

At 1 April 2015

4,316

Additions

953

At 31 March 2016

5,269

Depreciation

At 1 April 2015

2,653

Charge for the year

682

At 31 March 2016

3,335

Net book value

At 31 March 2016

1,934

At 31 March 2015

1,663

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

DAVID PEAT SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Related party relationships and transactions

Loan from the director and his wife

Transactions in relation to the loan from the director and his wife during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr D A Peat - Director loan

484

110

400

194

484

110

400

194