Penybont Monumental Masons Limited - Period Ending 2016-04-30

Registration number: 05253014

Penybont Monumental Masons Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Penybont Accounting Services Limited

Penybont Monumental Masons Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Penybont Monumental Masons Limited
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Penybont Monumental Masons Limited for the year ended 30 April 2016 set out on pages 4 to 9 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Penybont Monumental Masons Limited, 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 Penybont Monumental Masons Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penybont Monumental Masons Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Penybont Monumental Masons Limited 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 Penybont Monumental Masons Limited. You consider that Penybont Monumental Masons Limited 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 Penybont Monumental Masons Limited. 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.

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

Penybont Accounting Services Limited

2 January 2017

Page 1

Penybont Monumental Masons Limited
(Registration number: 05253014)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Current assets
Stocks					670			1,100
Debtors					7,691			8,658
Cash at bank and in hand					7,233			20,418
					15,594			30,176
Creditors: Amounts falling due within one year					(13,096)			(18,203)
Net assets					2,498			11,973
Capital and reserves
Called up share capital		3			3			3
Profit and loss account					2,495			11,970
Shareholders' funds					2,498			11,973

For the year ending 30 April 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 2 January 2017 and signed on its behalf by:

.........................................
Suzanne Parry
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Penybont Monumental Masons Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

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

Asset class	Depreciation method and rate
Plant and machinery	20% on cost
Vehicles	20% on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stock.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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

Penybont Monumental Masons Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		10,642			10,642
At 30 April 2016		10,642			10,642
Depreciation
At 1 May 2015		10,642			10,642
At 30 April 2016		10,642			10,642
Net book value
At 30 April 2016		-			-
At 30 April 2015		-			-

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of 1 each		3			3			3			3

Page 4

Penybont Monumental Masons Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Suzanne Parry
Dividends	8,200	8,200	5,200	5,200
Lisa Carpenter
Dividends	8,200	8,200	5,200	5,200
Terina Hitchings
Dividends	8,200	8,200	5,200	5,200

Page 5