Pretloves Removal & Storage Service Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06855543 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Pretloves Removal & Storage Service Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

27,000

36,000

Tangible assets

3

167,685

98,655

194,685

134,655

CURRENT ASSETS

Stocks

3,142

6,897

Debtors

84,855

77,112

Cash at bank

132,537

123,511

220,534

207,520

CREDITORS

Amounts falling due within one year

219,397

220,194

NET CURRENT ASSETS/(LIABILITIES)

1,137

(12,674

)

TOTAL ASSETS LESS CURRENT LIABILITIES

195,822

121,981

CREDITORS

Amounts falling due after more than one year

(60,136

)

(32,749

)

PROVISIONS FOR LIABILITIES

(18,207

)

(13,281

)

NET ASSETS

117,479

75,951

CAPITAL AND RESERVES

Called up share capital

4

200

200

Profit and loss account

117,279

75,751

SHAREHOLDERS' FUNDS

117,479

75,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 5 December 2016 and were signed on its behalf by:

Mr A C Pretlove - Director

Mrs A T Pretlove-Redmond - 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).

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 2010, is being amortised evenly over its estimated useful life of ten 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 etc

-

25% - 50% 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.

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 April 2015

and 31 March 2016

90,000

AMORTISATION

At 1 April 2015

54,000

Amortisation for year

9,000

At 31 March 2016

63,000

NET BOOK VALUE

At 31 March 2016

27,000

At 31 March 2015

36,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

338,447

Additions

127,394

Disposals

(13,500

)

At 31 March 2016

452,341

DEPRECIATION

At 1 April 2015

239,792

Charge for year

55,895

Eliminated on disposal

(11,031

)

At 31 March 2016

284,656

NET BOOK VALUE

At 31 March 2016

167,685

At 31 March 2015

98,655

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

200

Ordinary

£1

200

200

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

National Westminster Bank Plc have a fixed and floating charge covering all property and undertaking of the

company. This is providing security for a loan of which the directors have obtained personally.