Permalok Fastening Systems Limited - Abbreviated accounts 16.1

Permalok Fastening Systems Limited - Abbreviated accounts 16.1

PERMALOK FASTENING SYSTEMS LIMITED - Company Information

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REGISTERED NUMBER: 02699717














ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

PERMALOK FASTENING SYSTEMS LIMITED

PERMALOK FASTENING SYSTEMS LIMITED (REGISTERED NUMBER: 02699717)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

PERMALOK FASTENING SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2016







DIRECTORS: D Tyas
E Tyas





SECRETARY: D Tyas





REGISTERED OFFICE: Unit 1A
Plumtree Industrial Estate
Harworth
Doncaster
South Yorkshire
DN11 8EW





REGISTERED NUMBER: 02699717





ACCOUNTANTS: Lewis's Chartered Certified Accountants
Windsor House
44 High Road
Balby
Doncaster
DN4 0PL
Page 1
PERMALOK FASTENING SYSTEMS LIMITED (REGISTERED NUMBER: 02699717)

ABBREVIATED BALANCE SHEET
31 MARCH 2016

31.3.16 31.3.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 80,094 106,906
Investments 3 205,861 205,861
285,955 312,767

CURRENT ASSETS
Stocks 152,049 162,344
Debtors 186,462 209,773
Cash at bank and in hand 111,449 85,375
449,960 457,492
CREDITORS
Amounts falling due within one year 4 181,570 213,987
NET CURRENT ASSETS 268,390 243,505
TOTAL ASSETS LESS CURRENT
LIABILITIES
554,345
556,272

CREDITORS
Amounts falling due after more than one
year
4
30,992
49,435
NET ASSETS 523,353 506,837

CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and loss account 523,253 506,737
SHAREHOLDERS' FUNDS 523,353 506,837

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 notes form part of these abbreviated accounts

Page 2 continued...
PERMALOK FASTENING SYSTEMS LIMITED (REGISTERED NUMBER: 02699717)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2016


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 12 July 2016 and were signed on its behalf by:





D Tyas - Director


The notes form part of these abbreviated accounts

Page 3
PERMALOK FASTENING SYSTEMS LIMITED (REGISTERED NUMBER: 02699717)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 15% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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
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.

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.

Page 4 continued...
PERMALOK FASTENING SYSTEMS LIMITED (REGISTERED NUMBER: 02699717)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2016

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 197,193
Additions 10,795
Disposals (21,172 )
At 31 March 2016 186,816
DEPRECIATION
At 1 April 2015 90,287
Charge for year 21,728
Eliminated on disposal (5,293 )
At 31 March 2016 106,722
NET BOOK VALUE
At 31 March 2016 80,094
At 31 March 2015 106,906

3. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1 April 2015
and 31 March 2016 205,861
NET BOOK VALUE
At 31 March 2016 205,861
At 31 March 2015 205,861

4. CREDITORS

Creditors include an amount of £ 43,995 (31.3.15 - £ 74,002 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.3.16 31.3.15
£    £   
Repayable by instalments 16,698 19,649

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.16 31.3.15
value: £    £   
100 Ordinary £1 100 100

Page 5