P & S Carpets Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03272137 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 October 2015

for

P & S Carpets Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

P Fligelstone

SECRETARY:

REGISTERED OFFICE:

Unit 4 Sunderland Estate

Church Lane

Kings Langley

Hertfordshire

WD4 8JP

REGISTERED NUMBER:

03272137 (England and Wales)

ACCOUNTANTS:

Martin+Heller

Chartered Accountants

5 North End Road

London

NW11 7RJ

FIXED ASSETS

Tangible assets

2

57

CURRENT ASSETS

Stocks

47,350

47,331

Debtors

-

2,652

Cash at bank

213,665

216,630

261,015

266,613

CREDITORS

Amounts falling due within one year

227,673

237,211

NET CURRENT ASSETS

33,342

29,402

TOTAL ASSETS LESS CURRENT
LIABILITIES

33,399

29,459

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

33,395

29,455

SHAREHOLDERS' FUNDS

33,399

29,459

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 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 27 October 2016 and were signed by:

P Fligelstone - Director

1.	ACCOUNTING POLICIES

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 January 2015).

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.

Plant and machinery

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

2,408

DEPRECIATION

At 1 November 2014

and 31 October 2015

2,351

NET BOOK VALUE

At 31 October 2015

57

At 31 October 2014

57

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

2

Ordinary

£1

2

Ordinary B Shares

£1

2

4