PML Construction Ltd - Period Ending 2014-01-31

Registration number: 07897273

PML Construction Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2014
 

Nigel Taylor MA ACA T/A AIMS Accountants for Business
7 St Martins Lane
Beckenham
Kent
BR3 3XT

PML Construction Ltd
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.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
PML Construction Ltd
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 PML Construction Ltd 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.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of PML Construction Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of PML Construction Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PML Construction Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PML Construction Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PML Construction Ltd. You consider that PML Construction Ltd 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 PML Construction Ltd. 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.

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

Nigel Taylor MA ACA T/A AIMS Accountants for Business
7 St Martins Lane
Beckenham
Kent
BR3 3XT

17 October 2014

Page 1

PML Construction Ltd
(Registration number: 07897273)
Abbreviated Balance Sheet at 31 January 2014

		Note			31 January 2014 £			31 January 2013 £
Fixed assets
Tangible fixed assets					6,645			7,380
Current assets
Debtors					8,473			685
Cash at bank and in hand					7,820			2,028
					16,293			2,713
Creditors: Amounts falling due within one year					(18,662)			(8,086)
Net current liabilities					(2,369)			(5,373)
Total assets less current liabilities					4,276			2,007
Creditors: Amounts falling due after more than one year					(1,486)			-
Net assets					2,790			2,007
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					2,690			1,907
Shareholders' funds					2,790			2,007

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 17 October 2014

.........................................
Mr Patrick Steppel
Director

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

PML Construction Ltd
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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Fixtures and Fittings	25% Straight Line
Motor Vehicles	25% Straight Line
Office Equipment	25% Straight Line

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

PML Construction Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2013		9,840			9,840
Additions		2,300			2,300
At 31 January 2014		12,140			12,140
Depreciation
At 1 February 2013		2,460			2,460
Charge for the year		3,035			3,035
At 31 January 2014		5,495			5,495
Net book value
At 31 January 2014		6,645			6,645
At 31 January 2013		7,380			7,380

3	Share capital

Allotted, called up and fully paid shares

	31 January 2014						31 January 2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4

Control

The company is controlled by the Director who owns 50% of the share capital and his partner the Company Secretary who owns the other 50%.

Page 4