Abbreviated Company Accounts - PJ HERON (DRAPERSTOWN) LIMITED

PJ HERON (DRAPERSTOWN) LIMITED - Company Information

R0000355 PJ HERON (DRAPERSTOWN) LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true R0000355 2015-04-01 2016-03-31 R0000355 2016-03-31 R0000355 2015-03-31 R0000355 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 R0000355 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 R0000355

PJ HERON (DRAPERSTOWN) LIMITED

Abbreviated Accounts

31 March 2016

PJ HERON (DRAPERSTOWN) LIMITED Registered Number R0000355

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	1,450,603	1,452,803
Investments	3	7,250	37,250
		1,457,853	1,490,053
Current assets
Stocks		29,964	31,275
Debtors		332,397	169,282
Cash at bank and in hand		382,991	440,269
		745,352	640,826
Creditors: amounts falling due within one year		(46,096)	(48,181)
Net current assets (liabilities)		699,256	592,645
Total assets less current liabilities		2,157,109	2,082,698
Total net assets (liabilities)		2,157,109	2,082,698
Capital and reserves
Called up share capital	4	1,258,344	1,258,344
Profit and loss account		898,765	824,354
Shareholders' funds		2,157,109	2,082,698

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:
Mr D Heron, Director

PJ HERON (DRAPERSTOWN) LIMITED Registered Number R0000355

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 in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). 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).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets include investment properties at valuation. Other tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Buildings Freehold 2% straight line
Fixtures, fittings & equipment 15% straight line

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

Pensions
The pension costs charged in the financial statements represent the contributions payable by the company during the year in accordance with FRS 17.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 April 2015	1,478,835
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	1,478,835
Depreciation
At 1 April 2015	26,032
Charge for the year	2,200
On disposals	-
At 31 March 2016	28,232
Net book values
At 31 March 2016	1,450,603
At 31 March 2015	1,452,803

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for diminution in value.

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
1,258,344 Ordinary shares of £1 each	1,258,344	1,258,344