PTS Demolition and Dismantling Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06715549 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2013

for

PTS Demolition and Dismantling Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D T Gauja

REGISTERED OFFICE:

Demolition House

Beaumont Way

Aycliffe Industrial Estate

Newton Aycliffe

Co. Durham

DL5 6SN

REGISTERED NUMBER:

06715549 (England and Wales)

ACCOUNTANTS:

Anderson Barrowcliff LLP

Chartered Accountants

Waterloo House

Teesdale South

Thornaby Place

Thornaby on Tees

TS17 6SA

FIXED ASSETS

Tangible assets

2

192,362

135,859

CURRENT ASSETS

Stocks

19,011

241,641

Debtors

223,716

173,650

Cash at bank and in hand

28,534

21,397

271,261

436,688

CREDITORS

Amounts falling due within one year

3

646,188

457,563

NET CURRENT LIABILITIES

(374,927

)

(20,875

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(182,565

)

114,984

CREDITORS

Amounts falling due after more than one year

3

(91,355

)

(39,901

)

PROVISIONS FOR LIABILITIES

-

(2,983

)

NET (LIABILITIES)/ASSETS

(273,920

)

72,100

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(274,020

)

72,000

SHAREHOLDERS' FUNDS

(273,920

)

72,100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2013 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 7 March 2014 and were signed by:

D T Gauja - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis despite the balance sheet showing negative

distributable reserves of £273,920. The director has confirmed that he will continue to support the company for

the foreseeable future and has invested £231,115 of cash into the company since 30 September 2013.

The trading performance of the company has been much improved since 1 October 2013, with forecast results

indicating that the company will return to profit in the year ended 30 September 2014.

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 April 2008).

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

Buildings

10% on cost

Plant and machinery

15%, 25% and 33% on cost

Fixtures and fittings

25% on cost

Motor vehicles

20%, 25% and 40% on cost

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow

moving items.

Work in progress is valued at a percentage of total contract income, less sales margin, based on an estimate of

the stage of completion of the contract at the year end.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2012

149,081

Additions

193,878

Disposals

(105,045

)

At 30 September 2013

237,914

DEPRECIATION

At 1 October 2012

13,222

Charge for year

53,861

Eliminated on disposal

(21,531

)

At 30 September 2013

45,552

NET BOOK VALUE

At 30 September 2013

192,362

At 30 September 2012

135,859

3.

CREDITORS

Creditors include an amount of £ 138,683 (2012 - £ 68,905 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

100

Ordinary

£1

100

100