Premier Carpentry Limited - Period Ending 2014-01-31

Registration number: 05017988

Premier Carpentry Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2014
 

Complete Accountancy Plus Limited
35 Cassel Avenue
Poole
Dorset
BH13 6JD

Premier Carpentry Limited
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.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Premier Carpentry Limited
for the Year Ended 31 January 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Premier Carpentry Limited for the year ended 31 January 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Premier Carpentry Limited, as a body, in accordance with the terms of our engagement letter dated 27 November 2006. Our work has been undertaken solely to prepare for your approval the accounts of Premier Carpentry Limited and state those matters that we have agreed to state to them, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Premier Carpentry Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Premier Carpentry Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Premier Carpentry Limited. You consider that Premier Carpentry Limited 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 Premier Carpentry Limited. 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.

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

Complete Accountancy Plus Limited
35 Cassel Avenue
Poole
Dorset
BH13 6JD

30 September 2014

Page 1

Premier Carpentry Limited
(Registration number: 05017988)
Abbreviated Balance Sheet at 31 January 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					5,090			7,635
Current assets
Debtors					7,775			11,590
Creditors: Amounts falling due within one year					(7,515)			(10,498)
Net current assets					260			1,092
Total assets less current liabilities					5,350			8,727
Creditors: Amounts falling due after more than one year					(3,380)			(6,175)
Provisions for liabilities					(1,018)			(1,527)
Net assets					952			1,025
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					950			1,023
Shareholders' funds					952			1,025

For the year ending 31 January 2014 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 D J Arnold
Director

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

Premier Carpentry Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... 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..

Going concern

The financial statements have been prepared on a going concern basis.

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	25% reducing balance basis
Motor vehicles	25% straight line balance basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRS19. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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

Premier Carpentry Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2013		13,614			13,614
At 31 January 2014		13,614			13,614
Depreciation
At 1 February 2013		5,979			5,979
Charge for the year		2,545			2,545
At 31 January 2014		8,524			8,524
Net book value
At 31 January 2014		5,090			5,090
At 31 January 2013		7,635			7,635

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		2			2			2			2

4	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr D J Arnold
Directors Loan Account	863	-	407	7

Page 4