Pearson Design & Print Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07255765 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st March 2016

for

PEARSON DESIGN & PRINT LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Accountants' Report

6

DIRECTOR:

D Pearson

REGISTERED OFFICE:

14 Tintagel Court

Harrowgate Farm

Darlington

Co. Durham

DL3 0ZY

REGISTERED NUMBER:

07255765 (England and Wales)

ACCOUNTANTS:

Mitchell Gordon LLP

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

FIXED ASSETS

Tangible assets

2

86,410

4,274

CURRENT ASSETS

Debtors

3,738

7,054

Cash at bank

104

-

3,842

7,054

CREDITORS

Amounts falling due within one year

3

28,203

10,075

NET CURRENT LIABILITIES

(24,361

)

(3,021

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

62,049

1,253

CREDITORS

Amounts falling due after more than one year

3

(66,511

)

-

PROVISIONS FOR LIABILITIES

(416

)

(855

)

NET (LIABILITIES)/ASSETS

(4,878

)

398

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(4,978

)

298

SHAREHOLDERS' FUNDS

(4,878

)

398

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

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

The director acknowledges his 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 21st July 2016 and were signed by:

D Pearson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis of accounting. At the balance sheet date

the company's liabilities exceeded its assets by £4,878. Included within liabilities is an amount of £20,917 owed

to the director of the company. The director has confirmed that repayment of the loan will not be sought if it

proved to be prejudicial to the company.

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 services, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company receives 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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

No depreciation has been provided on freehold property in the financial statements. The property is in the process

of being brought into use and depreciation will commence at that time.

Deferred tax

Deferred tax is provided on the liability method to take account of timing differences between the treatment of

certain items for accounts purposes and their treatment for tax purposes. Tax deferred is accounted for in respect

of all material timing differences. The company has not adopted a policy of discounting deferred tax assets and

liabilities.

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

At 1st April 2015

13,404

Additions

85,032

Disposals

(5,691

)

At 31st March 2016

92,745

DEPRECIATION

At 1st April 2015

9,130

Charge for year

1,451

Eliminated on disposal

(4,246

)

At 31st March 2016

6,335

NET BOOK VALUE

At 31st March 2016

86,410

At 31st March 2015

4,274

3.

CREDITORS

Creditors include an amount of £ 67,999 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

59,775

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/16

31/3/15

value:

£

100

Ordinary

£1

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2016 and

31st March 2015:

31/3/16

31/3/15

£

D Pearson

Balance outstanding at start of year

1,126

-

Amounts advanced

-

1,126

Amounts repaid

(1,126

)

-

Balance outstanding at end of year

-

1,126

These advances are interest free and repayable upon demand.

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Pearson.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Pearson Design & Print Ltd for the year ended 31st March 2016 which comprise the Profit and

Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Pearson Design & Print Ltd in accordance with the terms of our engagement letter dated 10th May 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Pearson Design & Print Ltd and state those matters that we have agreed to state to the director of Pearson Design & Print Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Pearson Design & Print Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pearson Design & Print Ltd. You consider that Pearson Design & Print Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pearson Design & Print Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mitchell Gordon LLP

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

21st July 2016