Accounts


	PRESIDENTAL LTD


	ABBREVIATED UNAUDITED ACCOUNTS


	FOR THE YEAR ENDED 31 JULY 2016
























	INDEX TO THE ACCOUNTS



	Pages

	1	Abbreviated Balance Sheet

	2-3	Notes to the Abbreviated Accounts

PRESIDENTAL LTD
Company registered number: 08145222
ABBREVIATED BALANCE SHEET
AT 31 July 2016

	Note		2016	2015
		£	£	£
FIXED ASSETS
Tangible Assets	2		1,113	1,310

CURRENT ASSETS
Stock	1c	4,528		4,933
Debtors falling due within one year		3,803		3,300
Cash at bank and in hand		7,015		4,216
		15,346		12,449
CREDITORS: Amounts falling due within one year		15,482		13,477
NET CURRENT LIABILITIES			(136)	(1,028)
NET ASSETS			£977	£282

CAPITAL AND RESERVES
Called up share capital	3		10	10
Profit and loss account			967	272
SHAREHOLDERS' FUNDS			£977	£282


	In approving these financial statements as director of the company I hereby confirm the following:
	For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

	Directors' responsibilities:
	1) The members have not required the company to obtain an audit for its accounts for the year in question in accordance with section 476,
	2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

	The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

	These abbreviated accounts were approved by the board of directors on 05 December 2016



	Mr Adam Langton , Director


	The notes on pages 2 to 3 form part of these accounts
	page 1

	NOTES TO THE ABBREVIATED ACCOUNTS
	FOR THE YEAR ENDED 31 JULY 2016



1a.	Basis of accounting

	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).



1b.	Tangible fixed assets

	Fixed assets are shown at historical cost.

	Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.


	Plant and machinery	Reducing balance 25%
	Vehicles	Reducing balance 25%
	Fixtures and fittings	Reducing balance 15%
	Equipment	Reducing balance 15%



1c.	Stocks

	Stocks are stated at the lower of cost and net realisable value. Cost incurred in bringing each product to its present location and condition is based on purchase cost on a first-in, first-out basis, including transport.



1d.	Taxation

	Corporation tax payable is provided on taxable profits at the current rate.



1e.	Foreign currency

	Transactions denominated in foreign currencies are recorded in the local currency at actual exchange rates as of the date of the transaction.



1f.	Turnover

	Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business.

	page 2

	PRESIDENTAL LTD
	NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 31 JULY 2016



3.	SHARE CAPITAL	2016	2015
		£	£
	Allotted, issued and fully paid:

	10 Ordinary shares of £1 each	£10	£10

page 3