P.B. Lewis Builders Limited - Period Ending 2015-12-31

Registration number: 04513171

P.B. Lewis Builders Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

MKL Accountants Limited
Chartered Certified Accountants
Herston Cross House
230 High Street
Swanage
Dorset
BH19 2PQ

P.B. Lewis Builders Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
P.B. Lewis Builders Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of P.B. Lewis Builders Limited for the year ended 31 December 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of P.B. Lewis Builders Limited, as a body, in accordance with the terms of our engagement letterdated 9 September 2002. Our work has been undertaken solely to prepare for your approval the accounts of P.B. Lewis Builders Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P.B. Lewis Builders Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that P.B. Lewis Builders Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of P.B. Lewis Builders Limited. You consider that P.B. Lewis Builders Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of P.B. Lewis Builders Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MKL Accountants Limited
Chartered Certified Accountants
Herston Cross House
230 High Street
Swanage
Dorset
BH19 2PQ

8 September 2016

Page 1

P.B. Lewis Builders Limited
(Registration number: 04513171)
Abbreviated Balance Sheet at 31 December 2015

		Note			31 December 2015 £			31 December 2014 £
Fixed assets
Intangible fixed assets					3,150			3,600
Tangible fixed assets					3,951			4,325
					7,101			7,925
Current assets
Stocks					72,103			128,171
Debtors					29,970			40,602
					102,073			168,773
Creditors: Amounts falling due within one year					(106,555)			(146,189)
Net current (liabilities)/assets					(4,482)			22,584
Total assets less current liabilities					2,619			30,509
Provisions for liabilities					(790)			(865)
Net assets					1,829			29,644
Capital and reserves
Called up share capital		3			150			150
Profit and loss account					1,679			29,494
Shareholders' funds					1,829			29,644

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

P.B. Lewis Builders Limited
(Registration number: 04513171)
Abbreviated Balance Sheet at 31 December 2015
......... continued

For the year ending 31 December 2015 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 directors acknowledge their 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 Board on 8 September 2016 and signed on its behalf by:

.........................................
Miss AJ Parry
Director

.........................................
Mr PBM Lewis
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

P.B. Lewis Builders Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

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	5% Straight line method

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
Motor vehicles	25% Reducing balance method
Plant and machinery	25% Reducing balance method
Office equipment	25% Reducing balance method

Stock and work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 4

P.B. Lewis Builders Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2015		9,000			12,305			21,305
Additions		-			1,429			1,429
Disposals		-			(2,383)			(2,383)
At 31 December 2015		9,000			11,351			20,351
Depreciation
At 1 January 2015		5,400			7,980			13,380
Charge for the year		450			1,318			1,768
Eliminated on disposals		-			(1,898)			(1,898)
At 31 December 2015		5,850			7,400			13,250
Net book value
At 31 December 2015		3,150			3,951			7,101
At 31 December 2014		3,600			4,325			7,925

Page 5

P.B. Lewis Builders Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	31 December 2015						31 December 2014
		No.			£			No.			£
Ordinary Class A shares of £1 each		100			100			100			100
Ordinary Class B shares of £1 each		50			50			50			50
Ordinary Class C shares of £1 each		-			-			-			-
		150			150			150			150

Page 6