Pentstrend General Trading Co. Limited - Abbreviated accounts 16.1

PENTSTREND GENERAL TRADING CO. LIMITED

ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C E Marsh

A C Bernstein

SECRETARY:

A C Bernstein

REGISTERED OFFICE:

4 Churchill Court

58 Station Road

North Harrow

Middlesex

HA2 7ST

REGISTERED NUMBER:

00825546 (England and Wales)

ACCOUNTANTS:

ADAMS MOORHOUSE, Chartered Accountants

4 Churchill Court

58 Station Road

North Harrow

Middlesex

HA2 7ST

BANKERS:

Barclays Bank PLC

30 High Street

Southampton

SO9 7AB

FIXED ASSETS

Tangible assets

2

454,037

453,789

Investments

3

76

454,113

453,865

CURRENT ASSETS

Stocks

22,721

22,854

Debtors

132,795

120,146

Cash at bank and in hand

11,934

24,997

167,450

167,997

CREDITORS

Amounts falling due within one year

152,740

207,881

NET CURRENT ASSETS/(LIABILITIES)

14,710

(39,884

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

468,823

413,981

PROVISIONS FOR LIABILITIES

3,361

2,135

NET ASSETS

465,462

411,846

CAPITAL AND RESERVES

Called up share capital

4

100

Revaluation reserve

188,496

Profit and loss account

276,866

223,250

SHAREHOLDERS' FUNDS

465,462

411,846

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 1 August 2016 and were signed on its behalf by:

C E Marsh - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Preparation of consolidated financial statements

The financial statements contain information about Pentstrend General Trading Co. Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

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.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

15% 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

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 OR VALUATION

At 1 January 2015

604,396

Additions

13,939

At 31 December 2015

618,335

DEPRECIATION

At 1 January 2015

150,607

Charge for year

13,691

At 31 December 2015

164,298

NET BOOK VALUE

At 31 December 2015

454,037

At 31 December 2014

453,789

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

76

NET BOOK VALUE

At 31 December 2015

76

At 31 December 2014

76

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Southern Counties Real Estate Company Limited

Country of incorporation: England & Wales

Nature of business: Real Estate Agents

%

Class of shares:

holding

Ordinary

76.00

31.5.15

£

Aggregate capital and reserves

(26,634

)

Loss for the period/year

(26,734

)

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100