PBS_INTERNATIONAL_FREIGHT - Accounts


Company Registration No. 02648449 (England and Wales)
PBS INTERNATIONAL FREIGHT LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
Richard Anthony
Chartered Accountants
PBS INTERNATIONAL FREIGHT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PBS INTERNATIONAL FREIGHT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
677,014
636,636
Current assets
Stocks
106,750
53,985
Debtors
437,145
452,548
Cash at bank and in hand
455,416
473,689
999,311
980,222
Creditors: amounts falling due within one year
(653,111)
(621,849)
Net current assets
346,200
358,373
Total assets less current liabilities
1,023,214
995,009
Creditors: amounts falling due after more than one year
(171,360)
(202,303)
851,854
792,706
Capital and reserves
Called up share capital
3
15,000
15,000
Profit and loss account
836,854
777,706
Shareholders'  funds
851,854
792,706
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 13 December 2016
G L Costello Esq
Director
Company Registration No. 02648449
PBS INTERNATIONAL FREIGHT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Nil
Office equipment
33 1/3% reducing balance basis
Fixtures & fittings
15% reducing balance basis
Motor vehicles
25% reducing balance basis
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
950,069
Additions
80,480
Disposals
(11,524)
At 31 March 2016
1,019,025
Depreciation
At 1 April 2015
313,433
On disposals
(11,524)
Charge for the year
40,102
At 31 March 2016
342,011
Net book value
At 31 March 2016
677,014
At 31 March 2015
636,636
PBS INTERNATIONAL FREIGHT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
15,000 Ordinary shares of £1 each
15,000
15,000
4
Related party relationships and transactions
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
(34,206)
-
-
34,206
-
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