Pit 4 Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC488796 (Scotland)

ABBREVIATED ACCOUNTS

FOR THE PERIOD 13 OCTOBER 2014 TO 31 MARCH 2016

FOR

PIT 4 LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTOR:

Miss Y M Keith

REGISTERED OFFICE:

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

REGISTERED NUMBER:

SC488796 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

FIXED ASSETS

Tangible assets

2

1,870

CURRENT ASSETS

Stocks

4,200

Debtors

1,020

Cash at bank and in hand

9,276

14,496

CREDITORS

Amounts falling due within one year

(14,032

)

NET CURRENT ASSETS

464

TOTAL ASSETS LESS CURRENT LIABILITIES

2,334

PROVISIONS FOR LIABILITIES

(374

)

NET ASSETS

1,960

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

1,860

SHAREHOLDERS' FUNDS

1,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 8 July 2016 and were signed by:

Miss Y M Keith - 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 the net invoiced amount of services provided to customers excluding value added tax. For service

contracts performed gradually over time, revenue is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

2,005

At 31 March 2016

2,005

DEPRECIATION

Charge for period

135

At 31 March 2016

135

NET BOOK VALUE

At 31 March 2016

1,870

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Details of directors loan account transactions and the year end balance are as follows:

2016

£

Miss Y Keith:

Received from directors during period

3,462

Paid to directors during the period

-

Amount due to directors at 31st March 2016

3,462

The loans are interest free and ar repayabe on demand.