Accounts filed on 31-12-2015

Accounts filed on 31-12-2015

PROTRAIN RACING PRODUCTS LIMITED - Company Information

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017520372015-01-012015-12-31falsetruehttp://www.companieshouse.gov.uk/pt:PlantMachinery2014-12-31http://www.companieshouse.gov.uk/cd:Director12015-01-012015-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2015-12-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2014-12-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2015-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2014-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-01-012015-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2015-12-31http://www.companieshouse.gov.uk/pt:PlantMachinery2015-01-012015-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-12-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2015-01-012015-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12014-12-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2015-01-012015-12-31http://www.companieshouse.gov.uk/2014-01-012014-12-31http://www.companieshouse.gov.uk/2015-01-012015-12-31http://www.companieshouse.gov.uk/2014-12-31http://www.companieshouse.gov.uk/2015-12-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2015-01-012015-12-31http://www.companieshouse.gov.uk/2014-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 01752037
Protrain Racing Products Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/12/2015
Prepared By:
Balmer Accountancy Ltd
Whiteleaf Business Centre
11 Little Balmer
Buckingham
MK18 1TF
Protrain Racing Products Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/12/2015
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 01752037
Protrain Racing Products Limited
Registered Number: 01752037
BALANCE SHEET AT 31/12/2015
20152014
Notes££
FIXED ASSETS
Tangible assets217,53821,067
CURRENT ASSETS
Stock4,8044,804
Debtors (amounts falling due within one year)36,6954,894
Cash at bank and in hand2,52399
14,0229,797
CREDITORS: Amounts falling due within one year47,31750,511
NET CURRENT LIABILITIES(33,295)(40,714)
TOTAL ASSETS LESS CURRENT LIABILITIES(15,757)(19,647)
CREDITORS: Amounts falling due after more than one year48,8917,000
NET LIABILITIES(24,648)(26,647)
CAPITAL AND RESERVES
Called up share capital520,00020,000
Profit and loss account(44,648)(46,647)
SHAREHOLDERS' FUNDS(24,648)(26,647)
For the year ending 31/12/2015 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 29/09/2016 and signed on their behalf by
Gary Martin Chapman
Director
Protrain Racing Products Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2015
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015).
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Commercial Vehiclesreducing balance 15%
Equipmentreducing balance 25%
1d. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.
1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
Protrain Racing Products Limited
2. TANGIBLE FIXED ASSETS
Plant andCommercial
MachineryVehiclesEquipmentTotal
££££
Cost
At 01/01/201522,36249,2141,78273,358
At 31/12/201522,36249,2141,78273,358
Depreciation
At 01/01/201518,71131,8391,74152,291
For the year9132,606103,529
At 31/12/201519,62434,4451,75155,820
Net Book Amounts
At 31/12/20152,73814,7693117,538
At 31/12/20143,65117,3754121,067
3. DEBTORS 20152014
££
Amounts falling due within one year:
Trade debtors6,5003,595
Other debtors1951,299
6,6954,894
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20152014
££
Other creditors8,8917,000
8,8917,000
Protrain Racing Products Limited
5. SHARE CAPITAL 20152014
££
Allotted, issued and fully paid:
20000 Ordinary shares of £1 each2000020000
20,00020,000