Abbreviated Company Accounts - PRIORY MARINE SERVICES LTD

PRIORY MARINE SERVICES LTD - Company Information

06526265 PRIORY MARINE SERVICES LTD 2016-03-31 false 2015-04-01 2016-03-31 true 06526265 2015-04-01 2016-03-31 06526265 2016-03-31 06526265 2015-03-31 06526265 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 06526265 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 06526265

PRIORY MARINE SERVICES LTD

Abbreviated Accounts

31 March 2016

PRIORY MARINE SERVICES LTD Registered Number 06526265

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Tangible assets	2	15,764	18,014
		15,764	18,014
Current assets
Stocks		23,900	37,696
Debtors		79,389	18,888
Cash at bank and in hand		-	717
		103,289	57,301
Creditors: amounts falling due within one year		(149,932)	(112,512)
Net current assets (liabilities)		(46,643)	(55,211)
Total assets less current liabilities		(30,879)	(37,197)
Provisions for liabilities		(2,795)	(2,009)
Total net assets (liabilities)		(33,674)	(39,206)
Capital and reserves
Called up share capital	3	100	100
Revaluation reserve		6,318	6,318
Profit and loss account		(40,092)	(45,624)
Shareholders' funds		(33,674)	(39,206)

For the year ending 31 March 2016 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 directors acknowledge their 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 Board on 21 December 2016

And signed on their behalf by:
C.J. Bates, Director

PRIORY MARINE SERVICES LTD Registered Number 06526265

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents net invoiced sales of services, excluding value added tax.

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

Plant and machinery etc - 15% on reducing balance and Straight line over 3 years

Valuation information and policy
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Deferred Tax
Provision is made at current rates for taxation deferred in respect of timing differences.

Going Concern
The financial statements have been prepared on a going concern basis in view of the support provided by the directors/shareholders of the company.

2Tangible fixed assets

	£
Cost
At 1 April 2015	31,113
Additions	1,800
Disposals	(1,500)
Revaluations	-
Transfers	-
At 31 March 2016	31,413
Depreciation
At 1 April 2015	13,099
Charge for the year	2,925
On disposals	(375)
At 31 March 2016	15,649
Net book values
At 31 March 2016	15,764
At 31 March 2015	18,014

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100