P & R Labpak Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05031493 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

P & R LABPAK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J H Thompson

D N Buxton

SECRETARY:

D N Buxton

REGISTERED OFFICE:

6 Ketterer Court

St Helens

Merseyside

WA9 3AH

REGISTERED NUMBER:

05031493 (England and Wales)

ACCOUNTANTS:

Prime

Chartered Accountants

5 Argosy Court

Scimitar Way

Whitley Business Park

Coventry

CV3 4GA

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

30,041

50,609

Investments

4

735,000

765,041

785,609

CURRENT ASSETS

Stocks

753,750

664,951

Debtors

1,302,246

917,651

Cash at bank

-

326,720

2,055,996

1,909,322

CREDITORS

Amounts falling due within one year

5

1,903,375

2,381,379

NET CURRENT ASSETS/(LIABILITIES)

152,621

(472,057

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

917,662

313,552

CREDITORS

Amounts falling due after more than one
year

5

608,933

102,437

NET ASSETS

308,729

211,115

CAPITAL AND RESERVES

Called up share capital

6

100,000

Profit and loss account

208,729

111,115

SHAREHOLDERS' FUNDS

308,729

211,115

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 11 November 2016 and were signed on
its behalf by:

D N Buxton - 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).

Preparation of consolidated financial statements

The financial statements contain information about P & R Labpak Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial

statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill and costs of its acquisition, being the amount paid in connection with the purchase of a

business in 2004, has been amortised evenly over its expected useful life of 10 years.

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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

282,551

AMORTISATION

At 1 July 2015

and 30 June 2016

282,551

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

228,724

DEPRECIATION

At 1 July 2015

178,115

Charge for year

20,568

At 30 June 2016

198,683

NET BOOK VALUE

At 30 June 2016

30,041

At 30 June 2015

50,609

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2015

and 30 June 2016

735,000

NET BOOK VALUE

At 30 June 2016

735,000

At 30 June 2015

735,000

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Euro Lab Supplies Limited

Nature of business: Supply of laboratory chemicals and equipment

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

210,901

367,122

Loss for the year

(156,221

)

(77,493

)

Labpak Export Limited

Nature of business: Export of veterinary products

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

81,738

53,917

Profit for the year

27,821

55,682

5.

CREDITORS

Creditors include an amount of £ 1,239,343 (2015 - £ 701,761 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

135,000

-

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100,000

Ordinary

£1

100,000