PDL Scaffolding Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03385123 (England and Wales)

Abbreviated Accounts

for the Year Ended 30 June 2016

for

PDL Scaffolding Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M S Wightman

REGISTERED OFFICE:

Granite Building

6 Stanley Street

Liverpool

L1 6AF

REGISTERED NUMBER:

03385123 (England and Wales)

ACCOUNTANTS:

Sloan & Co.

Chartered Accountants

Granite Buildings

6 Stanley Street

Liverpool

Merseyside

L1 6AF

FIXED ASSETS

Tangible assets

2

1,257,026

748,095

CURRENT ASSETS

Stocks

30,165

72,871

Debtors

634,471

396,207

Cash at bank

2,156

187

666,792

469,265

CREDITORS

Amounts falling due within one year

3

1,112,400

640,895

NET CURRENT LIABILITIES

(445,608

)

(171,630

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

811,418

576,465

CREDITORS

Amounts falling due after more than one
year

3

(432,240

)

(350,978

)

PROVISIONS FOR LIABILITIES

(94,549

)

(58,657

)

NET ASSETS

284,629

166,830

CAPITAL AND RESERVES

Called up share capital

4

40,000

Profit and loss account

244,629

126,830

SHAREHOLDERS' FUNDS

284,629

166,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 16 September 2016 and were signed by:

M S Wightman - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company`s current liabilities exceed its current assets by £445,608 (2015 :£171,630) In view of the known

income stream for the forthcoming twelve months the Director considers it appropriate to prepare these financial

statements on the going concern basis.

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 invoice value 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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 July 2015

925,413

Additions

646,954

At 30 June 2016

1,572,367

DEPRECIATION

At 1 July 2015

177,318

Charge for year

138,023

At 30 June 2016

315,341

NET BOOK VALUE

At 30 June 2016

1,257,026

At 30 June 2015

748,095

3.

CREDITORS

Creditors include an amount of £ 1,027,633 (2015 - £ 669,443 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

40,000

Ordinary

£1

40,000