PETRICHOR_ASSOCIATES_LTD - Accounts


PETRICHOR ASSOCIATES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MAY 2016
COMPANY REGISTRATION NO. 09175210 (England and Wales)
PETRICHOR ASSOCIATES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PETRICHOR ASSOCIATES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MAY 2016
31 May 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,853
2,078
Current assets
Stocks
36,597
-
Debtors
77,797
390,586
Cash at bank and in hand
258,459
98,835
372,853
489,421
Creditors: amounts falling due within one year
(139,419)
(301,158)
Net current assets
233,434
188,263
Total assets less current liabilities
235,287
190,341
Capital and reserves
Called up share capital
3
300
300
Profit and loss account
234,987
190,041
Shareholders'  funds
235,287
190,341
For the financial period ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 11 October 2016
Mr P E Kadow
Director
Company Registration No. 09175210
PETRICHOR ASSOCIATES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MAY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33.3% straight line
Fixtures fittings and equipment
15% reducing balance
1.5
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015
3,117
Additions
957
At 31 May 2016
4,074
Depreciation
At 1 September 2015
1,039
Charge for the period
1,182
At 31 May 2016
2,221
Net book value
At 31 May 2016
1,853
At 31 August 2015
2,078
PETRICHOR ASSOCIATES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary A shares of £1 each
100
100
100 Ordinary B shares of £1 each
100
100
100 Ordinary C shares of £1 each
100
100
300
300
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