Park Stairlifts Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 07589271 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

FOR

PARK STAIRLIFTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mrs M P Belcher

REGISTERED OFFICE:

1386 London Road

Leigh on Sea

Essex

SS9 2UJ

REGISTERED NUMBER:

07589271 (England and Wales)

ACCOUNTANTS:

Francis James & Partners LLP

Chartered Accountants

1386 London Road

Leigh on Sea

Essex

SS9 2UJ

FIXED ASSETS

Intangible assets

2

-

15,000

Tangible assets

3

14,769

10,929

14,769

25,929

CURRENT ASSETS

Debtors

2,182

2,827

Cash at bank

47,992

59,376

50,174

62,203

CREDITORS

Amounts falling due within one year

4

60,374

85,544

NET CURRENT LIABILITIES

(10,200

)

(23,341

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,569

2,588

CREDITORS

Amounts falling due after more than one year

4

275

2,071

NET ASSETS

4,294

517

CAPITAL AND RESERVES

Called up share capital

5

2

2

Profit and loss account

4,292

515

SHAREHOLDERS' FUNDS

4,294

517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 11 October 2014 and were signed by:

Mrs M P Belcher - 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 April 2008).

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of three 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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax has been calculated, but the amount involved is not significant enough to materially affect the

financial statements, and therefore no provision has been made.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

45,000

AMORTISATION

At 1 July 2013

30,000

Amortisation for year

15,000

At 30 June 2014

45,000

NET BOOK VALUE

At 30 June 2014

-

At 30 June 2013

15,000

3.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2013

9,400

10,031

19,431

Additions

6,569

-

6,569

At 30 June 2014

15,969

10,031

26,000

DEPRECIATION

At 1 July 2013

4,113

4,389

8,502

Charge for year

1,319

1,410

2,729

At 30 June 2014

5,432

5,799

11,231

NET BOOK VALUE

At 30 June 2014

10,537

4,232

14,769

At 30 June 2013

5,287

5,642

10,929

4.

CREDITORS

Creditors include an amount of £ 2,071 (2013 - £ 3,867 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2