Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

PRO PAINT SPECIALIST LTD - Company Information

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PRO PAINT SPECIALIST LTD

Company Registration Number:
07805124 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

PRO PAINT SPECIALIST LTD

Abbreviated Balance sheet

As at 31 March 2016


Notes
2016
£
2015
£
Fixed assets
Tangible assets: 2 22,815 30,421
Total fixed assets: 22,815 30,421
Current assets
Debtors: 34,453 23,090
Cash at bank and in hand: 36,498 36,003
Total current assets: 70,951 59,093
Creditors: amounts falling due within one year: ( 18,488 ) ( 14,183 )
Net current assets (liabilities): 52,463 44,910
Total assets less current liabilities: 75,278 75,331
Creditors: amounts falling due after more than one year: ( 10,961 ) ( 15,346 )
Total net assets (liabilities): 64,317 59,985

The notes form part of these financial statements

PRO PAINT SPECIALIST LTD

Balance sheet continued

As at 31 March 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 3 10 10
Profit and loss account: 64,307 59,975
Shareholders funds: 64,317 59,985

For the year ending 31 March 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.

The financial statements were approved by the Board of Directors on 01 September 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Colin David Hamshire
Status: Director

The notes form part of these financial statements

PRO PAINT SPECIALIST LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historic cost convention as modified by the revaluation of certain fixed assets in accordance with the FRS for Smaller e=Entities (Effective April 2008)

    Turnover policy

    The turnover shown in the Profit and Loss Account represents revenue recognised by the company in repect of goods and services supplied during the period, exclusive of VAT and trade discounts

    Tangible fixed assets depreciation policy

    Depreciation is provided after taking of any grants receivable at the following annual rate in order to write off each asset over its estimated useful life. Freehold - 2%, Plant and Machinery - 15%, Fixtures and Fittings - 10%, Motor Verhicles - 25% on cost and amount written down for plant and machinery - 18%

    Intangible fixed assets amortisation policy

    There were no intangible assets.

    Valuation information and policy

    No revaluations have occurred during the period

    Other accounting policies

    Assets held 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 life. Those held under finance leases are depreciated over their estimated useful like or the lease term, whichever is the shorter. The interest element of of these obligations are charged to the profit and loss account over the relevant period. The capital element of the future payments are treated a a liability.

PRO PAINT SPECIALIST LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 2. Tangible assets

    Total
    Cost £
    01 April 2015: 34,457
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 March 2016: 34,457
    Depreciation
    01 April 2015: 4,036
    Charge for year: 7,606
    On disposals: 0
    Other adjustments: 0
    31 March 2016: 11,642
    Net book value
    31 March 2016: 22,815
    31 March 2015: 30,421

PRO PAINT SPECIALIST LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 3. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 10 1.00 10
    Preference shares: 0
    Total share capital (£): 10
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 10 1.00 10
    Preference shares: 0
    Total share capital (£): 10