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iso4217:GBP
| Paramount Homes (Cheltenham) Limited |
For the year ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05706865
2
Paramount Homes (Cheltenham) Limited
Accountants' Report
For the year ended 31 March 2016
| As described on the balance sheet you are responsible for the preparation of the financial statements for the year |
| ended 31 March 2016 and you consider that the company is exempt from an audit under the Companies Act 2006. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you |
| to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
ARC Business Services
9A Northfield Road
Tetbury
Gloucestershire
GL8 8HB
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3
| Abbreviated Balance Sheet |
Paramount Homes (Cheltenham) Limited
2016
2015
2
16,089
20,111
16,089
20,111
526,139
735,206
9,981
-
-
369
735,206
536,489
| Creditors: amounts falling due within one year |
3
(266,965)
(367,130)
269,524
368,076
Net current assets
| Total assets less current liabilities |
384,165
289,635
(3,940)
(3,940)
| Provisions for liabilities |
380,225
Net assets
285,695
1
1
380,224
285,694
380,225
285,695
Shareholders funds
| For the 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 responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) 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. |
| Date approved by the board: 18 June 2016 |
| Mr Robert Ian McGrath Director |
| Signed on behalf of the board of directors |
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4
| Notes to the Abbreviated Financial Statements |
Paramount Homes (Cheltenham) Limited
For the year ended 31 March 2016
| The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
| Finance lease and hire purchase charges |
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
| by the shareholders prior to the balance sheet date. |
| Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Motor Vehicles
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated over the shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
| Stocks and work in progress |
| Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
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5
| Notes to the Abbreviated Financial Statements |
Paramount Homes (Cheltenham) Limited
For the year ended 31 March 2016
27,411
27,411
7,300
4,022
Charge for year
11,322
16,089
20,111
2016
| 3 Creditors: amounts falling due within one year |
2015
255,700
155,563
Bank loans and overdrafts (secured)
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