Product Finishing Services Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06453314 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Product Finishing Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A A Bethell

D R Fell

SECRETARY:

Mrs L Fell

REGISTERED OFFICE:

7 Hebden Grove, Willenhall

Wolverhampton

West Midlands

WV12 5FJ

REGISTERED NUMBER:

06453314 (England and Wales)

ACCOUNTANTS:

CJM Associates

St Thomas House

83 Wolverhampton Road

Cannock

Staffordshire

WS11 1AR

FIXED ASSETS

Tangible assets

2

68,694

42,630

CURRENT ASSETS

Stocks

83,007

110,951

Debtors

165,065

172,863

Cash at bank and in hand

513,957

435,239

762,029

719,053

CREDITORS

Amounts falling due within one year

126,370

170,474

NET CURRENT ASSETS

635,659

548,579

TOTAL ASSETS LESS CURRENT LIABILITIES

704,353

591,209

PROVISIONS FOR LIABILITIES

10,591

10,591

NET ASSETS

693,762

580,618

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

693,662

580,518

SHAREHOLDERS' FUNDS

693,762

580,618

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 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 21 July 2016 and were signed on its behalf by:

D R Fell - 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 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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

At 1 April 2015

89,368

Additions

43,769

At 31 March 2016

133,137

DEPRECIATION

At 1 April 2015

46,738

Charge for year

17,705

At 31 March 2016

64,443

NET BOOK VALUE

At 31 March 2016

68,694

At 31 March 2015

42,630

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

100

Ordinary

1

100

100