Preston Enterprise Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04683318 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

PRESTON ENTERPRISE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K A Patel

A Patel

REGISTERED OFFICE:

9 Victoria Road

Fulwood

Preston

Lancashire

PR2 8ND

REGISTERED NUMBER:

04683318 (England and Wales)

ACCOUNTANTS:

Turner & Turner

Chartered Accountants

9 Victoria Rd

Fulwood

Preston

Lancashire

PR2 8ND

FIXED ASSETS

Tangible assets

2

118,531

118,531

CURRENT ASSETS

Debtors

3

883

883

Cash at bank

121

121

1,004

1,004

CREDITORS

Amounts falling due within one year

4

17,421

16,917

NET CURRENT LIABILITIES

(16,417

)

(15,913

)

TOTAL ASSETS LESS CURRENT LIABILITIES

102,114

102,618

CREDITORS

Amounts falling due after more than one year

4

146,458

146,458

NET LIABILITIES

(44,344

)

(43,840

)

CAPITAL AND RESERVES

Called up share capital

5

2

2

Profit and loss account

(44,346

)

(43,842

)

SHAREHOLDERS' FUNDS

(44,344

)

(43,840

)

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 19 December 2016 and were signed on its behalf by:

K A Patel - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared on a Going Concern basis. The directors, who are the shareholders and the

major creditors, have committed to not withdrawing support for the company for a period of at least twelve months from the

date of these financial statements.

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).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

Nil

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Going concern

The accounts have been prepared on a going concern basis. This is dependant on the continuing support of the directors

who are also the shareholders.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

118,531

NET BOOK VALUE

At 31 March 2016

118,531

At 31 March 2015

118,531

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 883 (2015 - £ 883 )

4.

CREDITORS

Creditors include an amount of £ 34,154 (2015 - £ 34,154 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2

6.	RELATED PARTY DISCLOSURES