Pullen (Gainsborough) Ltd - Period Ending 2016-03-31

Registration number: 07194214

Pullen (Gainsborough) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Saul Fairholm Limited
12 Tentercroft Street
Lincoln
LN5 7DB

Pullen (Gainsborough) Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Pullen (Gainsborough) Ltd
(Registration number: 07194214)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					13,400			16,750
Tangible fixed assets		2			2,568			2,599
					15,968			19,349
Current assets
Stocks					774			995
Debtors					103			102
Cash at bank and in hand					3,603			4,586
					4,480			5,683
Creditors: Amounts falling due within one year					(15,684)			(6,919)
Net current liabilities					(11,204)			(1,236)
Total assets less current liabilities					4,764			18,113
Provisions for liabilities					(513)			(520)
Net assets					4,251			17,593
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					4,151			17,493
Shareholders' funds					4,251			17,593

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 20 July 2016

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Pullen (Gainsborough) Ltd
(Registration number: 07194214)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mrs SE Pullen
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Pullen (Gainsborough) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Revenue represents the fair value of the consideration received or receivable for cafe services, net of discounts. Revenue is recognised when it is probable that the economic benefits associated with a transaction will flow to the Company and the amount of revenue and associated costs can be measured reliably.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and equipment	15% on reducing balance
Office equipment	33% straight line mehtod

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Pullen (Gainsborough) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		33,500			4,165			37,665
Additions		-			448			448
At 31 March 2016		33,500			4,613			38,113
Depreciation
At 1 April 2015		16,750			1,566			18,316
Charge for the year		3,350			479			3,829
At 31 March 2016		20,100			2,045			22,145
Net book value
At 31 March 2016		13,400			2,568			15,968
At 31 March 2015		16,750			2,599			19,349

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

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