Port Sunlight Trailer Company Limited - Period Ending 2015-09-30

Registration number: 01387715

Port Sunlight Trailer Company Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

GW Kelly & Co
Chartered Accountants
3 Stadium Court
Plantation Road
Bromborough
Wirral
CH62 3QG

Port Sunlight Trailer Company 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 Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Port Sunlight Trailer Company Limited
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Port Sunlight Trailer Company Limited for the year ended 30 September 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at icas.org.uk/Ethics.

This report is made solely to the Board of Directors of Port Sunlight Trailer Company 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 Port Sunlight Trailer Company Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icas.org.uk/Ethics. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Port Sunlight Trailer Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Port Sunlight Trailer Company 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 Port Sunlight Trailer Company Limited. You consider that Port Sunlight Trailer Company 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 Port Sunlight Trailer Company 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.

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

GW Kelly & Co
Chartered Accountants
3 Stadium Court
Plantation Road
Bromborough
Wirral
CH62 3QG

11 February 2016

Page 1

Port Sunlight Trailer Company Limited
(Registration number: 01387715)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					3,967			4,268
Current assets
Stocks					41,719			36,748
Debtors					12,617			13,018
Cash at bank and in hand					41,770			19,075
					96,106			68,841
Creditors: Amounts falling due within one year					(49,952)			(32,559)
Net current assets					46,154			36,282
Net assets					50,121			40,550
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					50,021			40,450
Shareholders' funds					50,121			40,550

For the year ending 30 September 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 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 11 February 2016

.........................................
Mr B Gibbs
Director

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

Port Sunlight Trailer Company Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... 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 April 2008).

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
Plant & Machinery	15% reducing balance
Motor Vehicles	25% reducing balance
Computer Equipment	20% reducing balance
Hire Equipment	15% reducing balance

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Page 3

Port Sunlight Trailer Company Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		27,133			27,133
Additions		550			550
At 30 September 2015		27,683			27,683
Depreciation
At 1 October 2014		22,865			22,865
Charge for the year		851			851
At 30 September 2015		23,716			23,716
Net book value
At 30 September 2015		3,967			3,967
At 30 September 2014		4,268			4,268

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4