P & H Environmental Ltd - Period Ending 2016-05-31

Registration number: 07629269

P & H Environmental Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

P & H Environmental Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

P & H Environmental Ltd
(Registration number: 07629269)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					12,932			10,141
Current assets
Debtors					16,339			25,311
Cash at bank and in hand					18,417			12,548
					34,756			37,859
Creditors: Amounts falling due within one year					(32,468)			(23,174)
Net current assets					2,288			14,685
Total assets less current liabilities					15,220			24,826
Creditors: Amounts falling due after more than one year					(4,210)			(5,015)
Provisions for liabilities					(2,586)			(2,028)
Net assets					8,424			17,783
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					8,423			17,782
Shareholders' funds					8,424			17,783

For the year ending 31 May 2016 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 23 September 2016 and signed on its behalf by:

.........................................
P S Taylor
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

P & H Environmental Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... 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).

Turnover

Turnover represents net invoiced sale of goods and services, excluding value added tax.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Plant and machinery	20% on cost
Motor vehicles	25% on reducing balance
Computer equipment	33% on cost

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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P & H Environmental Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

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

		Tangible assets £			Total £
Cost
At 1 June 2015		17,351			17,351
Additions		7,474			7,474
At 31 May 2016		24,825			24,825
Depreciation
At 1 June 2015		7,210			7,210
Charge for the year		4,683			4,683
At 31 May 2016		11,893			11,893
Net book value
At 31 May 2016		12,932			12,932
At 31 May 2015		10,141			10,141

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary share of £1 each		2			2			1			1

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