Parkshield Collection Ltd - Period Ending 2013-12-31

Registration number: 7878804

Parkshield Collection Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Axel Chartered Accountants
3 Minshull Street
Knutsford
Cheshire
WA16 6HG

Parkshield Collection Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Parkshield Collection Ltd
for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Parkshield Collection Ltd for the year ended 31 December 2013 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Parkshield Collection Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Parkshield Collection Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parkshield Collection Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Parkshield Collection Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Parkshield Collection Ltd. You consider that Parkshield Collection Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Parkshield Collection Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Axel Chartered Accountants
3 Minshull Street
Knutsford
Cheshire
WA16 6HG

30 September 2014

Page 1

Parkshield Collection Ltd
(Registration number: 7878804)
Abbreviated Balance Sheet at 31 December 2013

		Note			31 December 2013 £			31 December 2012 £
Fixed assets
Tangible fixed assets					5,339			7,395
Current assets
Debtors					5,698			-
Cash at bank and in hand					3,333			2,437
					9,031			2,437
Creditors: Amounts falling due within one year					(11,141)			(5,887)
Net current liabilities					(2,110)			(3,450)
Net assets					3,229			3,945
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					3,228			3,944
Shareholders' funds					3,229			3,945

For the year ending 31 December 2013 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 director acknowledges his 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 director on 30 September 2014

.........................................
Mr Andrew Fitton
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Parkshield Collection Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... 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 April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% and 33.33% straight line

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.

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.

Page 3

Parkshield Collection Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		9,584			9,584
At 31 December 2013		9,584			9,584
Depreciation
At 1 January 2013		2,189			2,189
Charge for the year		2,056			2,056
At 31 December 2013		4,245			4,245
Net book value
At 31 December 2013		5,339			5,339
At 31 December 2012		7,395			7,395

3	Share capital

Allotted, called up and fully paid shares

	31 December 2013						31 December 2012
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

Page 4