Pumps & Equipment (Warwick) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01691673

PUMPS & EQUIPMENT (WARWICK) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

H J Simmons

Mrs P A Simmons

M P Simmons

D A Alexander

SECRETARY:

Mrs P A Simmons

REGISTERED OFFICE:

6 Collins Road

Heathcote Industrial Estate

Warwick

Warwickshire

CV34 6TF

REGISTERED NUMBER:

01691673

ACCOUNTANTS:

Sephton & Company LLP

Chartered Certified Accountants

Marston House

5 Elmdon Lane

Marston Green

Solihull

West Midlands

B37 7DL

FIXED ASSETS

Tangible assets

2

35,047

43,308

CURRENT ASSETS

Stocks

297,892

325,627

Debtors

358,488

541,452

Cash at bank and in hand

51,312

412

707,692

867,491

CREDITORS

Amounts falling due within one year

3

536,594

708,664

NET CURRENT ASSETS

171,098

158,827

TOTAL ASSETS LESS CURRENT
LIABILITIES

206,145

202,135

PROVISIONS FOR LIABILITIES

4,609

5,827

NET ASSETS

201,536

196,308

CAPITAL AND RESERVES

Called up share capital

4

10,000

Profit and loss account

191,536

186,308

SHAREHOLDERS' FUNDS

201,536

196,308

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 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 16 June 2016 and were signed on its behalf by:

M P Simmons - Director

1.	ACCOUNTING POLICIES

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 net invoiced sales of goods, excluding value added tax.

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

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital

element of the future payments is treated as a liability.

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

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

314,615

DEPRECIATION

At 1 January 2015

271,307

Charge for year

8,261

At 31 December 2015

279,568

NET BOOK VALUE

At 31 December 2015

35,047

At 31 December 2014

43,308

3.

CREDITORS

Creditors include an amount of £ 0 (2014 - £ 45,444 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

10,000

Ordinary

£1

10,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company paid £46,200 (2014 - £46,200) rent in respect of a property jointly owned by Mr H J

Simmons and Mrs P A Simmons who are directors of the company.

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H J Simmons.