PS Forwarding Co Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05487007

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

PS FORWARDING CO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

K G Beesley

P Eaton

SECRETARY:

P Eaton

REGISTERED OFFICE:

Unit B

Tame Park

Vanguard

Tamworth

Staffordshire

B77 5DY

REGISTERED NUMBER:

05487007

ACCOUNTANTS:

Hayles Leicester Limited

Chartered Accountants

39 Castle Street

Leicester

LE1 5WN

FIXED ASSETS

Tangible assets

2

62,503

80,652

Investments

3

23,014

85,517

103,666

CURRENT ASSETS

Debtors

878,333

1,154,566

Cash at bank and in hand

394,894

377,036

1,273,227

1,531,602

CREDITORS

Amounts falling due within one year

1,170,021

1,458,655

NET CURRENT ASSETS

103,206

72,947

TOTAL ASSETS LESS CURRENT LIABILITIES

188,723

176,613

CAPITAL AND RESERVES

Called up share capital

4

2,000

Profit and loss account

186,723

174,613

SHAREHOLDERS' FUNDS

188,723

176,613

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 29 June 2016 and were signed on its behalf by:

P Eaton - 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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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

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

180,489

Additions

25,519

Disposals

(60,043

)

At 31 December 2015

145,965

DEPRECIATION

At 1 January 2015

99,837

Charge for year

20,835

Eliminated on disposal

(37,210

)

At 31 December 2015

83,462

NET BOOK VALUE

At 31 December 2015

62,503

At 31 December 2014

80,652

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

23,014

NET BOOK VALUE

At 31 December 2015

23,014

At 31 December 2014

23,014

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

PS Forwarding (2010) Limited

Country of incorporation: England

Nature of business: Freight Forwarders

%

Class of shares:

holding

£1 Ordinary

20.00

2015

2014

£

Aggregate capital and reserves

73,904

179,158

Profit for the year

14,746

60,929

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2,000

Ordinary

£1

2,000

5.	ULTIMATE PARENT COMPANY

The ultimate parent company is PS Holdings Limited, a company registered in The Bahamas number 14101563,

which is controlled by P Eaton.