Abbreviated Company Accounts - P AND A EYECARE LIMITED

P AND A EYECARE LIMITED - Company Information

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Registered Number 05708370

P AND A EYECARE LIMITED

Abbreviated Accounts

31 March 2016

P AND A EYECARE LIMITED Registered Number 05708370

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	8,832	9,384
Tangible assets	3	26,851	25,887
		35,683	35,271
Current assets
Stocks		9,125	7,994
Debtors	4	47,488	9,857
Cash at bank and in hand		218	812
		56,831	18,663
Creditors: amounts falling due within one year	5	(21,474)	(17,554)
Net current assets (liabilities)		35,357	1,109
Total assets less current liabilities		71,040	36,380
Creditors: amounts falling due after more than one year	5	(18,507)	(16,179)
Total net assets (liabilities)		52,533	20,201
Capital and reserves
Called up share capital	6	2	2
Profit and loss account		52,531	20,199
Shareholders' funds		52,533	20,201

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 16 December 2016

And signed on their behalf by:
P Soulsby, Director

P AND A EYECARE LIMITED Registered Number 05708370

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

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold 5% straight line
Plant & Machinery 20% reducing balance
Fixtures & Fittings 20% reducing balance

Intangible assets amortisation policy
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

Valuation information and policy
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses

Other accounting policies
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred

2Intangible fixed assets

	£
Cost
At 1 April 2015	11,040
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	11,040
Amortisation
At 1 April 2015	1,656
Charge for the year	552
On disposals	-
At 31 March 2016	2,208
Net book values
At 31 March 2016	8,832
At 31 March 2015	9,384

3Tangible fixed assets

	£
Cost
At 1 April 2015	45,427
Additions	6,836
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	52,263
Depreciation
At 1 April 2015	19,540
Charge for the year	5,872
On disposals	-
At 31 March 2016	25,412
Net book values
At 31 March 2016	26,851
At 31 March 2015	25,887

4Debtors

	2016 £	2015 £
Debtors include the following amounts due after more than one year	3,113	-

5Creditors

	2016 £	2015 £
Secured Debts	6,836	-

6Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2

7Transactions with directors

Name of director receiving advance or credit:	James Michael
Description of the transaction:	Loan
Balance at 1 April 2015:	-
Advances or credits made:	£ 3,113
Advances or credits repaid:	-
Balance at 31 March 2016:	£ 3,113

The above loan is interest free.