Prestwich Plastering Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02177164 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

PRESTWICH PLASTERING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

Mr O M Hetta

Miss N Shah

SECRETARY:

Miss N Shah

REGISTERED OFFICE:

Vanguard House

Merchants Quay

Salford Quays

Salford

Gtr Manchester

M50 3ST

REGISTERED NUMBER:

02177164 (England and Wales)

ACCOUNTANTS:

Allens Accountants Limited

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Tangible assets

2

31,198

35,143

CURRENT ASSETS

Stocks

-

61,280

Debtors

816,645

1,405,646

Cash at bank and in hand

814,480

253,955

1,631,125

1,720,881

CREDITORS

Amounts falling due within one year

1,101,576

1,201,166

NET CURRENT ASSETS

529,549

519,715

TOTAL ASSETS LESS CURRENT
LIABILITIES

560,747

554,858

PROVISIONS FOR LIABILITIES

592

145

NET ASSETS

560,155

554,713

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

560,055

554,613

SHAREHOLDERS' FUNDS

560,155

554,713

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 2 August 2016 and were signed on its behalf by:

Mr O M Hetta - 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 services performed, 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.

Improvements to property

-

15% on cost and 15% on reducing balance

Fixtures & fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Stocks and work in progress

Long term contract work in progress is valued at cost, net of amounts transferred to cost of sales, after deducting

payments on account and making provision for foreseeable losses. Profits in respect of long term contracts are

recognised on a percentage of completion basis, where the ultimate outcome of the contract can be foreseen with

reasonable certainty.

Other stocks are valued at the lower of cost and net realisable value, after making due allowance for slow and

obsolete items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

274,530

Additions

8,164

At 31 March 2016

282,694

DEPRECIATION

At 1 April 2015

239,387

Charge for year

12,109

At 31 March 2016

251,496

NET BOOK VALUE

At 31 March 2016

31,198

At 31 March 2015

35,143

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/16

31/3/15

value:

£

90

Ordinary

£1

90

10

A ordinary

£1

10

100

4.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Hetta Holdings Limited, a company controlled by Mr O M Hetta, a

director.