PDQ Spares Limited,Ltd - Accounts

PDQ Spares Limited,Ltd - Accounts

PDQ SPARES LIMITED - Company Information

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2015-05-01 true false Private Limited Company 03548558 2016-04-30 03548558 2015-05-01 2016-04-30 03548558 2015-04-30 03548558 2014-05-01 2015-04-30 03548558 uk-bus:Director1 2015-05-01 2016-04-30 03548558 uk-gaap:Buildings 2015-05-01 2016-04-30 03548558 uk-gaap:PlantMachinery 2015-05-01 2016-04-30 03548558 uk-gaap:CommercialMotorVehicles 2015-05-01 2016-04-30 03548558 uk-gaap:FixturesFittings 2015-05-01 2016-04-30 03548558 uk-gaap:AfterOneYear 2015-04-30 iso4217:GBP
PDQ Spares Limited
For the year ended 30 April 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03548558
2
Contents Page
PDQ Spares Limited
For the year ended 30 April 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
PDQ Spares Limited
Accountants' Report
For the year ended 30 April 2016
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
ended 30 April 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.
Graeme Hinchliffe Associates Ltd
6-8 Manvers Road
Swallownest
Sheffield
S26 4UD
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4
Abbreviated Balance Sheet
PDQ Spares Limited
As at 30 April 2016
03548558
Registered Number :
£
£
2016
Notes
2015
Fixed assets
Tangible assets
2
22,551
24,262
22,551
24,262
Current assets
Stocks
155,400
156,300
Debtors
112,247
103,161
Cash at bank and in hand
102,056
42,229
361,517
309,876
Creditors: amounts falling due within one year
(161,128)
(129,405)
148,748
232,112
Net current assets
Total assets less current liabilities
254,663
173,010
Creditors: amounts falling due after more than one year
3
(16,981)
-
(1,162)
(1,458)
Provisions for liabilities
253,501
Net assets
154,571
Capital and reserves
Called up share capital
100
100
Profit and loss account
253,401
154,471
253,501
154,571
Shareholders funds
For the year ended 30 April 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: 21 June 2016
Mr Mark Raffo Director
Signed on behalf of the board of directors
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5
Notes to the Abbreviated Financial Statements
PDQ Spares Limited
For the year ended 30 April 2016
1 Accounting Policies
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website Cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Tangible fixed assets
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:
Land and Buildings
10% Reducing balance
Plant and Machinery
15% Reducing balance
Motor Vehicles
25% Reducing balance
Fixtures and Fittings
15% Reducing balance
Stocks
Stocks 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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6
Notes to the Abbreviated Financial Statements
PDQ Spares Limited
For the year ended 30 April 2016
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
80,199
At 01 May 2015
At 30 April 2016
80,199
Depreciation
55,937
At 01 May 2015
1,711
Charge for year
57,648
At 30 April 2016
Net book values
At 30 April 2016
22,551
24,262
At 30 April 2015
2015
2016
3 Creditors due after more than one year
£
£
-
16,981
Bank loans and overdraft
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