Peter A Easton Irrigation Limited - Abbreviated accounts

PETER A EASTON IRRIGATION LIMITED - Company Information

Registered number

SC289302

Peter A Easton Irrigation Limited

Abbreviated Accounts

31 October 2015

Peter A Easton Irrigation Limited
Registered number:		SC289302
Abbreviated Balance Sheet
as at 31 October 2015

	Notes		2015			2014
£				£
Fixed assets
Tangible assets	2		11,031			14,702

Current assets
Stocks		23,584			8,805
Debtors		13,120			21,136
Cash at bank and in hand		102			103
		36,806			30,044

Creditors: amounts falling due within one year		(42,044)			(34,727)

Net current liabilities			(5,238)			(4,683)

Total assets less current liabilities			5,793			10,019

Creditors: amounts falling due after more than one year			(5,673)			(9,928)



Net assets			120			91

Capital and reserves
Called up share capital	3		1			1
Profit and loss account			119			90

Shareholders' funds			120			91

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Peter Easton
Director
Approved by the board on 2 March 2016

Peter A Easton Irrigation Limited
Notes to the Abbreviated Accounts
for the year ended 31 October 2015

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			25% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 November 2014					30,926
	At 31 October 2015					30,926

	Depreciation
	At 1 November 2014					16,224
	Charge for the year					3,671
	At 31 October 2015					19,895

	Net book value
	At 31 October 2015					11,031
	At 31 October 2014					14,702


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1		1		1